Steve Boland, president regarding Shopping at Lender of America

Steve Boland, president regarding Shopping at Lender of America

Lender off The united states today introduced Balance Assist™, a revolutionary new solution that provides a low-cost way for clients to manage their short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive selection of monetary options and services designed to help clients bank confidently and improve their financial lives.

“Harmony Let is the newest from inside the a robust band of clear, easy-to-explore ways to let the members budget, conserve, purchase and you may use cautiously and you may confidently,” told you D. “Anybody require the power to get to financial independence and you will stability, and are usually looking to simple, clear choices and you can recommendations to assist them to in the act.”

Financial out of America clients can increase the economic physical fitness by creating a discount punishment, working to make their credit, and improving its cost management experience to some extent by this number of helpful alternatives

Lead from organizations prize-successful digital streams and you may educated financial specialists, which gang of safe financial solutions assists satisfy clients’ informal financial, discounts and credit needs, and you may boasts:

  • Balance Assist – With this new short-term, low-cost loan, Bank of America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced to their account. Repayments would be made in three equal monthly installments over a 90-day period. To learn more, review these more tool facts and eligibility criteria. Borrowers must have been a Bank of America checking account client for at least one year. Balance Assist is scheduled to launch in select states by and in remaining states early next year.
  • SafeBalance™ – Today, over 2 billion customers utilize this membership, which is made to help them spend just the currency it offer. Having SafeBalance, there are not any overdraft fees in addition to month-to-month repair percentage is actually waived to own qualified youngsters in age of 24 or subscribers signed up for our very own Common Advantages system. Clients can make money which have good debit credit otherwise electronically when signed up for Zelle ® , mobile or online banking.
  • Secure the Change ® – Introduced from inside the 2005, Secure the Change was the initial program of their form so you can help members create offers by immediately transferring spare change from game right up debit cards deals on the a family savings. Now, more than 6 mil members use Hold the Transform. Over the last fifteen years, this program possess assisted clients lead more than $fifteen billion excessively change to savings levels.
  • Safeguarded Credit – This easy and you may convenient mastercard can help clients expose, bolster or rebuild their borrowing from the bank. Customers can put on getting an account that have a safety deposit regarding $3 hundred. Having in control credit decisions, customers can improve their credit rating and you may, over the years, will get qualify to own its safety put returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood Homeownership Connection, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through low down payment loans and down payment and closing cost grants.

“We continue to generate multiple creative ways to let our payday loans in Delaware clients achieve good monetary ground,” said April Schneider, direct off Consumer and you will Small company Facts within Financial off America. “Options such Balance Let, SafeBalance and you may Secure Card let promote website subscribers having monetary stability, and certainly will use them an approach to expanded-label economic fitness.”

These solutions and services are available through the award-winning Bank of America Mobile Banking app and are supported by Erica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resources available through Greatest Currency Habits ® , our free financial education platform that provides a simple, accessible way to connect people to the tools and education they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 million times.

Bank of America

Lender off The united states is just one of the planet’s best loan providers, offering personal consumers, smaller than average middle-markets organizations and large agencies which have a complete directory of financial, expenses, house administration or other monetary and you can exposure administration products and services. The business provides unmatched benefits in the usa, helping up to 66 million user and you may small company website subscribers which have approximately cuatro,3 hundred shopping economic facilities, in addition to everything step 3,000 credit facilities, dos,600 economic facilities which have a consumer Investment Economic Options Coach and approximately dos,two hundred team centers; whenever 16,900 ATMs; and you may honor-effective electronic banking which have around 39 million active profiles, including approximately 31 billion mobile profiles. Lender off The united states is a major international commander within the riches government, business and capital financial and you may change across a general directory of resource groups, serving enterprises, governments, organizations and people international. Bank out-of America has the benefit of globe-leading service to help you approximately step three million small business homes courtesy an effective suite out-of creative, easy-to-fool around with on the internet products. The organization provides website subscribers owing to surgery along the You, its areas and you will everything thirty five places. Lender from The united states Corporation inventory (NYSE: BAC) is on the Nyc Stock-exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Financial of The usa newsroom and sign up for information current email address alerts.

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