Bank regarding 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 economic choices and services designed to help clients bank confidently and improve their financial lives.

“Harmony Assist ’s the newest from inside the an effective group of clear, easy-to-have fun with remedies for help all of our readers budget, save, purchase and you will acquire cautiously and confidently,” told you D. “Anyone wanted the power to reach economic freedom and you can stability, and they are trying effortless, obvious possibilities and guidance to assist them to in the act.”

Financial from The usa members increases the economic exercise from the establishing an economy punishment, attempting to make their borrowing from the bank, and you can improving their cost management experiences in part through this selection of of use solutions. Introduced from organizations prize-successful electronic streams and you may experienced fiscal experts, so it gang of secure financial alternatives assists meet clients‘ informal financial, discounts and you will credit needs, and you can comes 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 even more product 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™ – Now, more than dos million clients use this account, which is built to assist them to spend just the currency it have available. Having SafeBalance, there are no overdraft costs additionally the month-to-month repair commission is waived to possess qualified pupils underneath the period of 24 otherwise members subscribed to our very own Well-known Benefits program. Members can make money which have a great debit credit otherwise electronically whenever signed up for Zelle ® , mobile or on the web banking.
• Keep the Changes ® – Put inside 2005, Secure the Change is actually the first system of its type so you can help subscribers generate deals by instantly placing free change from round right up debit cards purchases to your a checking account. Now, more than six million members play with Keep the Changes. Within the last 15 years, this method keeps assisted members lead over $15 million in excess switch to offers profile.
• Secured Cards – This easy and you can much easier mastercard can help website subscribers present, bolster or reconstruct its credit. Customers can apply having a free account which have a security deposit off $three hundred. Having in charge credit decisions, website subscribers can improve their credit history and, throughout the years, could possibly get meet the requirements for their cover put returned.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Partnership, 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 generate some creative approaches to assist our clients reach solid economic footing,” told you April Schneider, lead regarding Individual and you can Home business Activities at the Bank off The united states. “Alternatives instance Balance Help, SafeBalance and you may Secured Cards help render clients online payday loans Massachusetts with monetary stability, and can use them a path to lengthened-identity economic health.”

For much more Lender from The united states news, including dividend announcements or other important information, go to the

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 Patterns ® , 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 away from America is among the planet’s leading financial institutions, providing personal people, small and middle-market organizations and enormous businesses with a complete range of banking, expenses, house management or any other financial and exposure government services and products. The company will bring unrivaled benefits in the usa, serving up to 66 billion individual and you can home business clients having just as much as cuatro,three hundred merchandising economic stores, also whenever step three,one hundred thousand lending facilities, dos,600 economic locations which have a consumer Resource Financial Choice Advisor and you can approximately dos,200 providers facilities; around 16,900 ATMs; and you may prize-successful electronic financial having just as much as 39 million productive pages, in addition to as much as 31 million cellular profiles. Financial of The usa try a global chief into the riches government, business and you can investment financial and you may trading round the an over-all range of resource kinds, providing businesses, governing bodies, institutions and people internationally. Financial of The usa also offers industry-best assistance to help you approximately step 3 mil home business domiciles because of a beneficial package out-of innovative, easy-to-use online services and products. The firm provides website subscribers through surgery along side All of us, its areas and whenever 35 places. Lender away from The usa Enterprise stock (NYSE: BAC) try on the New york Stock-exchange.