Bank of America Introduces Balance Assist, a Revolutionary Brand Brand Brand New Short-Term, Low-Cost Loan

Bank of America Introduces Balance Assist, a Revolutionary Brand Brand Brand New Short-Term, Low-Cost Loan

Business Delivers Comprehensive selection of Banking approaches to assist customers handle Their Financial Lives Carefully and Confidently

Bank of America now introduced Balance Assistв„ў, a revolutionary brand new solution that provides a low-cost means for consumers to control their short-term liquidity requires, borrowing just the quantity they need, as much as $500. Balance Assist may be the offering that is latest in a comprehensive collection of monetary solutions and solutions built to assist customers bank confidently and enhance their monetary life.

“Balance Assist may be the latest in a effective collection of clear, easy-to-use approaches to assist our consumers budget, save, spend and borrow very carefully and confidently,” said D. Steve Boland, president of Retail at Bank of America. “People want the energy to quickly attain monetary freedom and security, and are payday loans Arkansas usually searching for simple, clear solutions and advice to assist them to on the way.”

Bank of America customers can increase their fitness that is financial by a savings control, attempting to build their credit, and enhancing their cost management abilities in component through this choice of helpful solutions. Delivered through the company’s award-winning channels that are digital knowledgeable financial experts, this group of safe banking solutions helps satisfy consumers’ everyday banking, cost cost savings and financing requirements, and includes:

SafeBalanceв„ў – Today, over 2 million customers make use of this account, that will be made to assist them spend just the cash they will have available. With SafeBalance, there aren’t any overdraft charges together with month-to-month upkeep charge is waived for qualified pupils underneath the chronilogical age of 24 or clients signed up for our favored benefits system. Customers will make re re re payments by having a debit card or digitally whenever signed up for Zelle В® , mobile or online banking.

Maintain the Change ® – Introduced in 2005, Keep carefully the Change had been the very first program of its type to greatly help consumers build cost savings by immediately depositing extra differ from rounded up debit card transactions into a savings account. Today, a lot more than 6 million customers use keep consitently the Change. During the last 15 years, the program has helped clients direct a lot more than $15 billion excessively change to cost savings reports.

Secured Card – This simple and easy credit that is convenient might help clients establish, strengthen or reconstruct their credit. Customers can use for a merchant account by having a safety deposit of $300. With accountable credit behavior, consumers can enhance their credit history and, as time passes, may qualify to own their protection deposit came back.

Low-cost Home Loans – at the beginning of 2019, Bank of America established its $5 billion Community Homeownership Commitment , which includes currently assisted almost 13,000 low- and homebuyers that are moderate-income homeownership through low advance payment loans and down payment and closing price funds.

“We continue to produce a number of innovative approaches to assist our customers achieve solid footing that is financial” said April Schneider, mind of customer and business goods at Bank of America. “Solutions like Balance Assist, SafeBalance and Secured Card assist offer customers with financial security, and certainly will wear them a road to longer-term economic health.”

These solutions and solutions can be obtained through the award-winning Bank of America Cellphone Banking software and therefore are supported by Erica, our electronic associate. These solutions are made to encourage good monetary practices, since are extra resources available through Better Money behavior В® , our free monetary training platform providing you with an easy, accessible solution to link visitors to the various tools and training they should assist assume control of these funds. Since 2013, Better Money behavior content was viewed significantly more than 120 million times.

Find out about the brand new Balance Assist offering and Bank of America’s comprehensive collection of banking solutions .

Bank of America

Bank of America is just one of the world’s leading finance institutions, serving specific customers, little and middle-market organizations and enormous corporations with the full selection of banking, investing, asset management along with other monetary and risk management items and services. The business provides convenience that is unmatched the usa, serving around 66 million customer and small company clients with about 4,300 retail economic facilities, including around 3,000 financing facilities, 2,600 economic centers by having a Consumer Investment Financial Options Advisor and roughly 2,200 company facilities; around 16,900 ATMs; and award-winning electronic banking with about 39 million active users, including about 30 million mobile users. Bank of America is a leader that is global wide range administration, business and investment banking and trading across an extensive selection of asset classes, serving corporations, governments, organizations and people around the globe. Bank of America offers industry-leading help to around 3 million small company households by way of a suite of revolutionary, easy-to-use online products. The organization acts customers through operations throughout the united states of america, its regions and roughly 35 nations. Bank of America Corporation stock (NYSE: BAC) is noted on the brand new York stock market.

To get more Bank of America news, including dividend notices along with other important info, look at the Bank of America newsroom and sign up for news e-mail alerts .