Bank 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 group of financial choices and services designed to help clients bank confidently and improve their financial lives.

“Harmony Help ‘s the newest within the a strong number of transparent, easy-to-fool around with answers to assist our subscribers finances, cut, purchase and you can borrow meticulously and you will with full confidence,” told you D. “Some one require the advantage to reach monetary freedom and balances, consequently they are trying to easy, clear choice and you will recommendations to assist them to along the way.”

Bank away from The united states customers increases the economic exercise of the starting an economy abuse, trying to create the credit, and you may improving their budgeting feel simply from this set of of use alternatives. Brought from the organizations award-profitable digital avenues and you may experienced fiscal experts, this selection of safe financial choice helps meet clients’ relaxed banking, discounts and you will financing needs, and you may comes with:

Such options and you can characteristics appear from award-winning Bank off The united states Mobile Financial software and therefore are supported by Erica, our very own digital assistant

• 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 even more product details 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, more than dos million clients utilize this membership, that’s made to assist them to spend only the currency it offer. That have SafeBalance, there are no overdraft fees while the monthly repair fee is actually waived to have qualified youngsters underneath the period of 24 or members enrolled in the Prominent Benefits program. Customers tends to make money which have an excellent debit card or digitally whenever subscribed to Zelle ® , cellular or online financial.
• Hold the Changes ® – Introduced into the 2005, Keep the Alter is the original program of the kind so you’re able to assist members make savings of the instantly transferring free move from rounded right up debit card deals for the a bank account. Today, more than 6 million members have fun with Keep the Alter. In the last fifteen years, this choice has helped readers head more $15 mil in excess change to savings accounts.
• Covered Cards – This simple and you will simpler credit card will help subscribers introduce, reinforce otherwise reconstruct their credit. Clients can use for a merchant account with a protection deposit out of $three hundred. Which have in charge borrowing choices, subscribers is improve their credit history and you may, over time, will get meet the requirements to possess its cover deposit came back.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community 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 always produce many different creative approaches to help our very own clients go solid monetary footing,” said April Schneider, lead regarding Individual and you can Home business Items within Financial regarding The usa. online payday loans Arizona “Possibilities including Harmony Help, SafeBalance and you will Safeguarded Cards let promote readers with monetary balance, and will put them on a path to offered-term monetary wellness.”

These solutions are built to encourage good financial habits, as are additional resources available through Finest Money Activities ® , 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 from The united states is just one of the earth’s top creditors, helping private customers, small and center-sector enterprises and enormous agencies that have a complete set of financial, paying, resource management and other economic and you can risk administration products and services. The company will bring unrivaled benefits in the usa, offering as much as 66 mil consumer and you may small company members which have everything cuatro,3 hundred merchandising financial locations, as well as approximately step three,one hundred thousand lending locations, dos,600 financial stores having a customer Capital Monetary Alternatives Coach and you may just as much as dos,two hundred organization centers; whenever 16,900 ATMs; and prize-effective electronic banking with just as much as 39 mil active profiles, together with up to 31 billion mobile users. Financial out-of The united states is actually a major international leader in the wide range government, corporate and you can money financial and you will trade across a general variety of house groups, offering firms, governments, organizations and people global. Bank off The usa offers world-top support so you’re able to around step three mil small company homes compliment of good package out of innovative, easy-to-fool around with on line services and products. The firm suits website subscribers by way of surgery over the You, the regions and you may approximately thirty five regions. Financial of America Company stock (NYSE: BAC) was listed on the Nyc Stock exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank regarding America newsroom and sign up for news email alerts.