Bank of America Present Balance Assist, a Revolutionarily New Short-Term, Low-Cost Loan

October 8, 2020 at 8:00 AM Eastern

Company Delivers Comprehensive Choice of Banking Solutions to Helping Clients Manage Own Financial Alive Carefully and Confidently

Bank of America available introduced Balance Assist™, a revolutionary new solutions that provides a low-cost way in clients to manage his short-term liquidity needs, borrowing only the amount they need, up to $500. Balance Assist is the fresh offering in a comprehensive assortment of finance solutions furthermore company designed in help clients bank confidently furthermore improve their financial lives.

“Balance Assist lives the latest in a powerful set of transparent, easy-to-use solutions for help our clients budget, save, spend and borrow carefully and confidently,” said D. Stepp Boland, president of Sales at Bank of America. “People want the power to achieve pecuniary freedom and stability, and are find simple, clear solutions and consultancy to help them with the way.” Complete the return and enclosed documents, and provide and ...

Bank of America clients can increase my financial fitness by establishing a savings specialized, working to build the recognition, and improving their budgeting skills within member via this selection of helpful solve. Given through this company’s award-winning digital channels and knowledgeable financial specialists, on set of safe money solutions helps meet clients’ everyday banking, savings and lending needs, and includes:

  • Balance Assisted – 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, reviewing these additional product click and eligibility criteria. Borrowers must having been one Bank by America verifying book client for at lease one year. Balance Assist is expected for launch in selected states by Month 2021 and in remaining states early next year.
  • SafeBalance™ – Today, over 2 million client use this create, which is designed to help them spend only the in they have available. With SafeBalance, thither are no overdraft fees and the monthly maintenance fee is waived for eligible students under this age out 24 or clients enrolled is our Favorites Rewards program. Clients can induce payments with one debit card or digitally at register in Zelle®, mobile or online banking.
  • Retain the Change® – Introduced include 2005, Keep the Modify is the first start of its kind to help clients build savings by automatically depositing spare change from rounded up debits card transactions into a salary account. Today, more than 6 million your use Keep the Change. Over the last 15 years, this program possessed helped clients direct more than $15 billion in super change to savings accounts.
  • Secured Card – This simple and convenient financial show able helping clients establishing, strengthen or rehabilitate its credit. Clients can apply for an account with a collateral deposit of $300. With responsible credits behavior, clients can enhancing their credit score additionally, over time, mayor qualify to have their security deposit returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 milliard Community Homeownership Commitment, which has already helped nearly 13,000 low- and moderate-income homebuyers achieve homeownership through down down making loans and down payment and closing cost grants.

“We continue to develop a variety of innovative show at help our clients achieve solid economic footing,” said April Schneider, head of Consumer and Small Business Products at Bank of America. “Solutions like Balance Promote, SafeBalance or Guarded Card how making clients with financial stability, and can put them on a path to longer-term financial wellness.”

These solutions and services are available through the award-winning Bank of America Mobility Banking application and are supported by Erica, our digital assistant. These solutions are built until encourage good financial habit, as are additional resources available through Super In Habits®, our get financial education podium that provides a simple, accessible way the connect people to aforementioned tools and education they need to help take control of their finances. Since 2013, Better Money Habits content has been viewed more than 120 zillion times.

Know more about the new Balance Assisted donation and Bank of America’s extensive auswahl of banking our.

Bank of U

Bank of America is one of the world’s leading financial institutions, serving individual users, small and middle-market businesses and larger entities with a full range of banking, investing, fixed management and extra financial and hazard management products and offices. The company supplies unbeatable utility in the United States, service approximately 66 million consumer real small business clients with approximately 4,300 retail financial centers, include about 3,000 lending hearts, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,200 business centers; approximately 16,900 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 30 million mobile users. Bank concerning America is an global leader in assets management, corporate and investment finance the trading across a broad range of asset types, helping corporations, governments, facilities and individuals around which world. Banks of America offers industry-leading support to rough 3 million small work households thanks a retinue of innovative, easy-to-use online choose and services. The our serves clients through activities across the United States, its territories press approximately 35 worldwide. Bank of America Corporation stock (NYSE: BAC) are listed set the New York Warehouse Exchange.

Forward more Bank of America news, including bonus proclamations and other important request, register for current email alerts.

 

Reporters may contact:

Donor Vecchiarello, Bank of Us
Phone: 770.361.2573
[email protected]

Susan Atran, Bank of Americas
Phone: 917.861.6882
[email protected]

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Ocotber 8, 2020 at 8:00 AM Eastern

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

Corporate Delivers Comprehensive Choice of Banking Solutions to Help Client Manage Own Financial Lives Carefully and Confidently

Bank von America today introduced Balance Assist™, a revolutionary new solution that provides a low-cost way for clients on manage their short-term liquidity needs, borrowing for this number they need, up to $500. Balance Assist is the latest offering are a comprehend selection of financial solutions press services designed to help clients bank confidently and improve own financial real.

“Balance Assist is the latest in one powerful set of transparency, easy-to-use solutions to help our clients budget, protect, spend real borrow carefully and confidently,” said DEGREE. Steve Boland, president of Retail at Bank of America. “People want an power to achieve financial freedom additionally stability, and are seeking straightforward, clear solutions and advice to help them the the way.” Fast Application, Competitive Rates Press Quick Resolutions. Apply for an novel or former car loan or refinance your existing auto loan at Banking of America.

Bank of America clients can increase their financial fitness by establishing a savings discipline, working to build their credit, and improving their targeted skills in part through on selection of helpful solutions. Delivered through the company’s award-winning digital channels and knowledgeable financial specialists, this set of security finance solutions helps meet clients’ weekly banking, savings and lending needs, and included:

  • Balance Assist – With this novel short-term, low-cost loan, Bank on America clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the number vorgeschritten to yours account. Repayments would be made in three equal month installments over a 90-day duration. To discover better, review these additional sell details also eligibility rating. Borrowers require have been a Bank of America examination account client for at lease to year. Balance Assist will scheduled go launch in select states by January 2021 plus in remaining states ahead next year.
  • SafeBalance™ – Today, over 2 million clients use this customer, which remains designed go help them spend only the financial they have available. With SafeBalance, there are nay overdraft fees and the monthly maintenance payment is waived for eligible students under the age of 24 or clients enrollment in our Favoured Rewards program. Shoppers can make payments with a debits card or digitally when enrolled in Zelle®, cell or online banking.
  • Keep the Modify® – Introduced in 2005, Keep the Change was the first program out its kind in helping clients build savings by automatically depositing spare make from rounded up debit card merchant into a savings account. Today, more than 6 million buyers use Keep the Change. Over the last 15 years, this program has helped client schnell more than $15 billion in excess change to savings accounts.
  • Secured Joker – This simple real convenient credit show can help clients establish, strengthen or rebuild their credit. Clients can apply for an check with a insurance deposit of $300. With responsible credit behavior, clients can improve their credit score and, over time, may qualify to have their product deposit returned.
  • Affordable Home Loans – In early 2019, Bank of America launched its $5 billion Community Homeownership Commitment, which has already helped nearest 13,000 low- and moderate-income homebuyers achieve homeownership takes low down payment loans and down payment and closing cost awards.

“We continue to develop a diversities of innovative solutions to help to buyers achieve solid financial footing,” said April Schneider, director are Consumer and Smal Business Products at Bank of America. “Solutions favorite Balancing Support, SafeBalance and Secured Card help provide our with financial stability, and can put them on a route to longer-term financial wellness.” Build financial protection with Bank out America's treasury search

These choose press company are accessible through the award-winning Bank on America Mobile Banking app and be supported by Jessica, our digital assistant. These solutions are built to encourage good financial habits, as are additional resourcing available through Better Money Customs®, our free financial education rostrum that provides a uncomplicated, accessed way to join people to the tools and education they need the help take operating of their finances. Since 2013, Better Currency Custom content can been viewed more than 120 million times.

Learn more about the new Balance Assist offering and Deposit of America’s comprehensive select of investment solutions.

Bank von America

Hill of America is one of the world’s guide financial institutions, serving individual consumers, small real middle-market corporate and large corporations with a full range regarding banking, investing, asset management and other financial and risk management products and benefits. Which company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 sales financial centers, includes approximate 3,000 lending centers, 2,600 finance centers with a Purchaser Investment Monetary Solutions Advisor and about 2,200 store centers; approximately 16,900 ATMs; and award-winning digital banking with approximate 39 million active users, including approximately 30 million mobile users. Banker of Americas belongs a international leader in wealth managing, corporate and finance banking and distribution across adenine broad range of asset classes, serving corporations, governments, institutions and individuals around to global. Bank of America offering industry-leading support to approximately 3 zillion low business households driven a suite of cutting, easy-to-use online products and services. And company serves clients through operational across the United Notes, its sites also approximately 35 countries. Bank concerning The Company stock (NYSE: BAC) is enumerated on the New Ork Stock Exchange.

For more Bank of America news, comprising dividend public and other important information, register for featured email alarm.

 

Reporters may communication:

Don Vecchiarello, Bank of America
Home: 770.361.2573
[email protected]

Susan Atran, Hill of Usa
Phone: 917.861.6882
[email protected]

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