Steve Boland, president from Retail on Financial regarding The united states

For more Financial out of The united states development, and additionally dividend announcements and other information, check out the

Lender out-of America 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 economic choices and services designed to help clients bank confidently and improve their financial lives.

“Harmony Help is the newest into the a robust gang of clear, easy-to-use remedies for assist our very own clients finances, save yourself, invest and you will use cautiously and with confidence,” told you D. “People need the advantage to achieve monetary versatility and you can balance, and are also looking to effortless, clear selection and pointers to enable them to in the process.”

Financial away from America subscribers increases the financial fitness from the starting a cost savings abuse, trying to generate the borrowing, and boosting the budgeting knowledge in part through this band of beneficial alternatives. Introduced from the business’s award-winning digital channels and you can experienced financial specialists, it selection of secure banking alternatives assists satisfy clients’ informal financial, savings and financing need, and is sold with:

  • 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 additional equipment 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, more dos million clients make use of this account, which is made to enable them to spend just the currency it supply. Which have SafeBalance, there are not any overdraft charge and also the monthly maintenance commission was waived for qualified youngsters in age 24 otherwise members subscribed to our very own Preferred Perks system. Website subscribers makes money that have an effective debit credit otherwise digitally when signed up for Zelle ® , mobile or on line banking.
  • Keep the Changes ® – Put when you look at the 2005, Hold the Changes was the original system of the type so you’re able to assist readers create coupons by instantly deposit free change from game upwards debit credit purchases on a bank account. Today, over six billion members use Keep the Changes. In the last fifteen years, this program enjoys helped subscribers head more $fifteen billion excessively switch to deals membership.
  • Safeguarded Cards – This simple and you can easier mastercard can help customers expose, reinforce or reconstruct its borrowing. Members can use to possess a free account which have a protection put from $3 hundred. Having in control credit behavior, website subscribers is also enhance their credit score and you may, over the years, can get meet the requirements to possess its shelter put came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Commitment, 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 consistently produce numerous creative ways to assist the subscribers go strong economic ground,” told you April Schneider, direct from Individual and you may Small business Activities from the Lender off The united states. “Possibilities such as for example Equilibrium Let, SafeBalance and you can Protected Card assist provide subscribers with financial stability, and can use them a path to lengthened-identity 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 Top Money Models ® , 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 usa is among the world’s leading loan providers, offering personal customers, smaller than average middle-business people and enormous companies that have the full directory of financial, using, advantage government and other economic and you can exposure management products. The company provides unrivaled convenience in the usa, serving around 66 mil individual and small company clients with just as much as cuatro,3 hundred retail economic stores, including just as much as step 3,one hundred thousand lending centers, 2,600 monetary locations which have a consumer Financing Financial Alternatives Coach and as much as 2,200 team locations; around 16,900 ATMs; and you will honor-winning digital banking that have approximately 39 mil active users, and everything 31 mil cellular pages. Lender off The usa try a global commander from inside the money administration, business and you may financial support banking and you may Wyoming title loans trade across an over-all listing of house groups, helping enterprises, governing bodies, associations and people all over the world. Financial of America now offers world-top help so you can as much as step 3 billion home business home through a beneficial suite out-of imaginative, easy-to-fool around with on the internet products. The business caters to customers as a consequence of procedures along side United states, its areas and up to thirty five regions. Financial from America Firm stock (NYSE: BAC) try on the New york Stock-exchange.


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