Steve Boland, president of Retail in the Lender off The usa

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Steve Boland, president of Retail in the Lender off The usa

Bank 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 payday loans West Frankfort IL the amount they need, up to $500. Balance Assist is the latest offering in a comprehensive gang of financial possibilities and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Assist ‘s the newest inside the an effective gang of transparent, easy-to-play with ways to help all of our website subscribers finances, help save, purchase and you can acquire meticulously and you can with confidence,” told you D. “Anyone wanted the benefit to get to monetary liberty and balances, and so are seeking to simple, obvious solutions and you will advice to assist them to in the process.”

Lender off The usa subscribers can increase the monetary physical fitness from the creating an economy discipline, working to build its borrowing, and you will improving their cost management knowledge to some extent by this set of helpful choices

Put from company’s prize-successful electronic avenues and you will educated financial experts, this group of safe banking possibilities assists meet clients’ relaxed financial, deals and you can financing demands, 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 additional unit 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 than dos million readers utilize this account, which is made to help them purchase just the money they have available. With SafeBalance, there aren’t any overdraft fees and the monthly fix commission are waived to possess qualified college students under the chronilogical age of 24 or subscribers enrolled in our Popular Benefits system. Readers renders payments which have a debit credit otherwise electronically when signed up for Zelle ® , mobile or on the web financial.
  • Contain the Change ® – Brought in 2005, Contain the Changes was the original system of their type to help you help subscribers build savings because of the immediately deposit spare move from rounded right up debit credit purchases with the a bank account. Today, over six million website subscribers use Secure the Change. Over the last fifteen years, this method keeps assisted members direct over $fifteen mil excessively switch to savings account.
  • Secure Credit – This simple and simpler mastercard might help members present, bolster otherwise rebuild their borrowing from the bank. Website subscribers can use getting a merchant account with a protection deposit out-of $3 hundred. That have responsible borrowing from the bank decisions, customers can also be improve their credit score and you can, over time, will get be considered having the cover put came back.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area Homeownership Union, 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.

“I always create many different innovative remedies for help our readers achieve strong monetary footing,” told you April Schneider, direct away from User and you will Small company Points on Lender away from The united states. “Selection eg Balance Help, SafeBalance and you may Covered Card let offer customers with financial balances, and can put them on a route to extended-term financial wellness.”

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 Finest 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

Lender regarding The united states is amongst the world’s top loan providers, providing personal users, smaller than average middle-markets companies and large businesses having a complete a number of banking, expenses, investment management or other monetary and you may chance management products. The company provides unmatched comfort in america, serving around 66 million consumer and small company customers with just as much as cuatro,300 retail financial locations, also whenever step three,one hundred thousand financing facilities, 2,600 monetary centers that have a buyers Capital Economic Solutions Coach and around dos,2 hundred business centers; approximately 16,900 ATMs; and you may prize-profitable electronic banking which have just as much as 39 mil energetic users, plus just as much as 31 mil cellular pages. Financial out of The usa is an international chief inside wealth government, corporate and you may resource banking and you will trade all over a general selection of house classes, serving businesses, governments, organizations and folks international. Lender out of America offers community-top help in order to as much as step 3 mil small company homes thanks to a good suite away from innovative, easy-to-fool around with on the internet services. The company serves readers because of operations along side Us, their areas and you may approximately 35 places. Bank from The usa Firm inventory (NYSE: BAC) are 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 create development email notification.

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