Lender away from The usa 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 Assist is the latest into the a robust gang of clear, easy-to-play with answers to assist all of our website subscribers budget, save your self, spend and you will obtain cautiously and you can with confidence,” told you D. “Some body wanted the benefit to get to monetary independence and stability, and are generally seeking effortless, clear alternatives and you can advice to assist them to in the process.”
Lender from The united states readers increases their financial fitness from the setting-up a benefit discipline, trying to generate its borrowing, and you can improving the cost management event in part from this selection of of use choice
Lead through the organization’s prize-winning electronic streams and you may experienced fiscal experts, so it number of secure banking options facilitate meet clients’ informal banking, offers and you can lending means, and you can has:
- 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 equipment information 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™ – Now, more than 2 billion subscribers utilize this account, that is made to help them invest just the money they supply. Which have SafeBalance, there are not any overdraft charges together with monthly repairs fee was waived having qualified college students in age twenty-four otherwise website subscribers signed up for our Preferred Perks system. Website subscribers helps make money with an effective debit cards or electronically when subscribed to Zelle ® , cellular or on the web banking.
- Contain the Changes ® – Lead when you look at the 2005, Support the Change are the original program of the type so you’re able to assist readers create coupons by the automatically placing spare change from rounded up debit card purchases to your a savings account. Today, more than 6 billion clients fool around with Support the Alter. Over the last 15 years, this option has helped clients direct over $fifteen mil excessively change to offers levels.
- Safeguarded Cards – This simple and you will convenient mastercard might help website subscribers establish, strengthen or reconstruct its borrowing from the bank. Clients can apply for a merchant account that have a security deposit off $3 hundred. Which have responsible borrowing from the bank conclusion, clients can be enhance their credit rating and you will, over time, may be considered to own their shelter put came back.
- Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Neighborhood Homeownership Relationship, 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 steadily to build a variety of imaginative solutions to let the customers get to strong financial ground,” said April Schneider, direct out-of Consumer and you can Business Issues in the Bank out-of America. “Possibilities such Balance Let, SafeBalance and Protected Credit assist provide subscribers having financial stability, and certainly will use them a path to stretched-term monetary 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 Money Designs ® , 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
Bank out-of The united states is amongst the planet’s top financial institutions, providing individual customers, smaller than average center-market companies and enormous organizations which have an entire directory of financial, using, house management or any other monetary and you may exposure administration services. The company provides unrivaled benefits in the us, providing everything 66 billion consumer and you will business website subscribers that have around cuatro,3 hundred shopping monetary centers, also whenever step three,one hundred thousand credit centers, 2,600 financial facilities that have a buyers Capital Financial Possibilities Advisor and you will whenever dos,two hundred organization facilities; as much online payday loans Alabama as 16,900 ATMs; and you can award-profitable digital financial which have around 39 billion productive pages, and additionally everything 29 mil cellular pages. Financial off The usa try a global chief for the money administration, business and you can funding banking and you may trading across the a standard a number of house groups, providing providers, governments, institutions and other people around the globe. Lender regarding America also provides business-leading assistance so you can just as much as step 3 million home business house through a package out-of creative, easy-to-have fun with on the web products and services. The company serves customers by way of functions along the United states, the regions and you will as much as 35 places. Financial regarding America Enterprise inventory (NYSE: BAC) is actually listed on the New york Stock exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Lender out of America newsroom and sign up for news email notification.
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