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

Company Delivers Comprehensive selection of Banking answers to assist Consumers handle Their Financial Lives Carefully and Confidently

Bank of America now introduced Balance Aist, a revolutionary brand new solution that provides a low-cost method for consumers to control their short-term liquidity needs, borrowing just the amount they require, up to $500. Balance Aist may be the latest providing in a comprehensive variety of economic solutions and services made to help consumers bank confidently and enhance their economic life.

“Balance Aist is the newest in a set that is powerful of, easy-to-use answers to assist our clients budget, save, spend and borrow very very carefully and confidently,” said D. Steve Boland, president of Retail at Bank of America. “People want the ability to accomplish economic freedom and security, and therefore are looking for simple, clear solutions and advice to assist them to on the way.”

Bank of America consumers increases their fitne that is financial by a discount 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 digital networks and knowledgeable financial experts, this collection of safe banking solutions helps satisfy customers’ everyday banking, cost savings and financing requirements, and includes:

  • Balance Aist – Using this brand brand brand new short-term, low-cost loan, Bank of America consumers can now borrow as much as $500 (in increments of $100) for a $5 flat rate regardle associated with the quantity advanced level for their account. Repayments is manufactured in three equal equal payments more than a period that is 90-day. To find out more, review these extra item details and eligibility requirements. Borrowers should have been a Bank of America account that is checking for one or more 12 months. Balance Aist is planned to introduce in choose states by January 2021 plus in staying states year that is early next.
  • SafeBalance – Today, over 2 million customers utilize this account, that will be built to assist them to invest just the cash they’ve available. With SafeBalance, there are no overdraft charges plus the month-to-month maintenance cost is waived for qualified pupils underneath the chronilogical age of 24 or clients signed up for our favored benefits system. Consumers makes re re re payments with a debit card or digitally whenever signed up for Zelle , mobile or banking that is online.
  • Keep consitently the Change – Introduced in 2005, Keep carefully the Change had been the very first system of their type to assist consumers build cost savings by automatically depositing spare differ from rounded up debit card transactions right into a family savings. Today, significantly more than 6 million consumers utilize keep consitently the Change. This program has helped clients direct more than $15 billion in exce change to savings accounts over the last 15 years.
  • Secured Card – This simple and easy convenient charge card might help customers establish, strengthen or reconstruct their credit. Consumers can use for a merchant account by having a protection deposit of $300. With accountable credit behavior, consumers can enhance their credit history and, with time, may qualify to possess their safety deposit came back.
  • Low-cost Home Loans – during the early 2019, Bank of America established its $5 billion Community Homeownership Commitment, that has 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 many different revolutionary answers to assist our consumers attain solid monetary footing,” said April Schneider, mind of customer and Small Busine goods at Bank of America. “Solutions like Balance Aist, SafeBalance and Secured Card assist offer customers with economic security, and may wear them a way to longer-term monetary wellne.”

    These solutions and solutions can be obtained through the Bank that is award-winning of Cellphone Banking application and generally are supported by Erica, our electronic aistant. These solutions are made to encourage good monetary practices, because are extra resources available through Better Money practices , our free economic training platform providing you with a straightforward, acceible solution to link individuals to the various tools and training they have to assist take over of the funds. Since 2013, Better Money behavior content is seen a lot more than 120 million times.

    Find out more about the Balance that is new Aist 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 businees and big corporations with a complete array of banking, investing, aet administration along with other economic and risk management services and products. The business provides unmatched convenience in the usa, serving about 66 million customer and little busine consumers with roughly 4,300 retail economic facilities, including about 3,000 financing facilities, 2,600 monetary facilities with a Consumer Investment Financial Systems Advisor and about 2,200 busine facilities; roughly 16,900 ATMs; and award-winning electronic banking with about 39 million active users, including about 30 million mobile users. Bank of America is just a worldwide frontrunner in wide range administration, business and investment banking and trading acro an extensive array of aet claes, serving corporations, governments, institutions and people around the globe. Bank of America offers support that is industry-leading about 3 million little busine households by way of a suite of revolutionary, easy-to-use online services and products. The organization acts consumers through operations acro the usa, its regions and about 35 nations. Bank of America Corporation stock (NYSE: BAC) is noted on this new York stock market.

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