Steve Boland, chairman away from Shopping on Financial out of America

Financial regarding The united states today introduced Balance Assist™, a revolutionary new solution that provides a low-cost payday loans in Alaska 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 set of economic choices and services designed to help clients bank confidently and improve their financial lives.

“Equilibrium Help is the most recent in a powerful set of clear, easy-to-fool around with methods to let our very own subscribers funds, cut, purchase and you can acquire cautiously and you can with full confidence,” told you D. “Anybody want the advantage to reach monetary freedom and you can balances, and are generally looking to effortless, obvious options and you can pointers to help them in the act.”

Bank away from America subscribers increases its financial exercise by setting-up a benefit abuse, attempting to generate its credit, and you will boosting their cost management knowledge simply by this gang of of good use options. Lead from businesses award-winning electronic avenues and educated fiscal experts, which group of safer banking possibilities assists meet clients’ casual banking, deals and you may financing means, and you will includes:

• 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 a lot more tool 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 dos million members utilize this membership, that’s made to help them invest precisely the money it have available. Which have SafeBalance, there are not any overdraft costs in addition to monthly restoration payment try waived having qualified children beneath the chronilogical age of twenty four otherwise clients subscribed to the Preferred Benefits program. Clients tends to make costs that have an effective debit card otherwise digitally when signed up for Zelle ® , mobile otherwise on the web banking.
• Support the Alter ® – Produced during the 2005, Secure the Transform is actually the initial program of their kind to let clients generate savings from the automatically transferring spare move from circular upwards debit credit transactions towards a savings account. Today, more 6 million clients use Hold the Transform. In the last fifteen years, this option has actually aided customers lead more than $15 mil excessively switch to discounts account.
• Secure Credit – This simple and you can convenient charge card may help readers expose, reinforce or rebuild the borrowing from the bank. Clients can use having an account with a security deposit out-of $300. That have responsible borrowing conclusion, readers can also be boost their credit rating and you can, throughout the years, get meet the requirements to own the safeguards deposit came back.
• Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Area 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 continue steadily to write a number of innovative answers to help our very own subscribers achieve good financial ground,” told you April Schneider, head away from User and Small company Items from the Financial off The usa. “Alternatives such as Equilibrium Help, SafeBalance and you may Protected Card help provide subscribers that have economic balance, and can use them a path to stretched-identity monetary health.”

To get more Financial out of The usa news, in addition to dividend announcements and other important information, visit 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 Most readily useful Currency Habits ® , 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

Financial off America is one of the world’s leading loan providers, offering private people, small and center-business enterprises and large businesses which have an entire list of banking, using, investment government or any other monetary and you can chance administration services and products. The company provides unmatched convenience in america, helping everything 66 billion individual and you will home business members having as much as 4,3 hundred merchandising financial locations, also everything 3,100 credit locations, dos,600 financial stores with a consumer Funding Economic Selection Mentor and you will approximately dos,200 team facilities; approximately 16,900 ATMs; and prize-profitable digital banking having everything 39 billion productive users, also everything 30 billion mobile users. Bank off The united states is actually an international frontrunner in wealth management, corporate and you will money financial and you will exchange round the a broad set of house groups, providing enterprises, governing bodies, institutions and individuals around the world. Financial off The usa now offers business-top support so you can up to 3 million home business house courtesy a beneficial suite of innovative, easy-to-fool around with online products and services. The business suits customers because of businesses across the You, the territories and you can around thirty-five places. Bank out-of The usa Corporation stock (NYSE: BAC) is listed on the Nyc Stock exchange.