Lower-rate scope
Qualifying Bank of America home loans
The published 4% cap applies to an eligible home loan that Bank of America owns and manages. It should not be transferred to a sold loan or a different servicer without confirmation.
Bank of America, National Association
Bank of America
Quick answer
Bank of America SCRA overview
A qualifying home loan that Bank of America owns and manages may receive a 4% cap. The bank also describes possible deposit-fee waivers and extended card and installment benefits after service.
Federal protections are separate from any additional benefit offered by a bank.
Benefit-rich guide
Bank of America publishes a 4% home-loan program, fee relief, and several request routes.
Bank of America's strongest published enhancement is narrower than a bankwide 4% promise: the home loan must qualify and be both owned and managed by Bank of America.
Other benefits
Card, deposit, and service-fee relief
The bank describes select credit-card fee waivers, deposit fee waivers, standard checks, and possible post-service extensions for eligible card and installment accounts.
Request path
Portal, fax, regular mail, or overnight mail
Those routes accept the bank's request information and supporting documentation. The listed phone is for the Military Benefits Unit; ordinary email carries a security warning.
Before sending
Match the route to the document
Use the authenticated request flow or a bank-listed document route for sensitive records. Do not assume the public email address is a secure upload channel.
Federal SCRA rule
Start with when the debt began.
Federal SCRA interest relief generally concerns qualifying debt from before military service. A bank's extra benefit can be broader or more generous, but it does not replace the federal eligibility test.
Open all federal scra protectionsExtra from Bank of America
8 bank extras.
Quick read. Eligibility still depends on the exact account.
Select credit-card fees waived for life
Eligible customers and select card fees only; Bank of America does not publish the full fee list.
Debit-card replacement fees may be waived
Eligible deposit account; ask Bank of America to confirm your account.
ATM fees may be waived on eligible deposit accounts
Eligible deposit account; third-party ATM-owner fees are not stated as covered.
Monthly checking and savings fees may be waived
Eligible checking or savings account; ask Bank of America to confirm your account.
Wire fees may be waived on eligible deposit accounts
Eligible deposit account and wire; ask Bank of America to confirm both.
4% cap on eligible Bank of America home loans
The home loan must be owned and managed by Bank of America. Investor-owned loans may still get the federal 6% cap, but not necessarily 4%.
Card and installment benefits may continue six months after service
Eligible cards and installment loans. The six-month extension generally covers both; continued reduced interest is stated only for cards.
Standard check-order fees may be waived
Eligible deposit account; standard check orders only.
Contact Bank of America
Choose the option that matches what you need.
Each option says exactly what the bank confirms it can do.
militarybenefits@bankofamerica.com
The bank lists this email address. Ask the bank about a secure way to send military orders or other sensitive documents.
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
Fax
866-696-0292; outside U.S. collect 302-525-5889; Attn: Military Benefits Unit
Send the completed request and documentation to the Military Benefits Unit.
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
- What the bank asks for
- Completed military benefit request
- Supporting military documentation when requested
Use for overnight mail.
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
- What the bank asks for
- Completed military benefit request
- Supporting military documentation when requested
Use for regular mail.
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
- What the bank asks for
- Completed military benefit request
- Supporting military documentation when requested
Phone
877-345-0693; outside U.S. collect 817-245-4094
Military Benefits Unit, Monday-Friday, 9 a.m.-8 p.m.
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
Secure portal
Bank of America Military Benefits request flow
Sign in to Bank of America and choose “Request benefits now.”
- Use for
- Credit cards, Mortgages and home equity, Auto loans and leases, Personal loans, Other loans and lines
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