Bank of America Launches New Low-Cost Loan Solution in the Upstate, Latest in Overall Financial Wellness Set

Bank of America has launched Balance Assist, a new low-cost solution for clients in the Upstate to manage their short-term liquidity needs. With Balance Assist, clients can now borrow up to $500 (in increments of $100) for a $5 flat fee regardless of the amount advanced on their payment. Repayments would be made in three equal monthly installments over a 90-day period.

Balance Assist builds on Bank of America’s continued commitment to offering empowering and simplified financial services to help clients bank confidently while building financial stability, including the Community Homeowners Commitment, SafeBalance Banking, Keep the Change and Secure Card. These solutions are all available through Bank of America’s Mobile Banking app and are supported by the bank’s virtual financial assistant Erica.

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