Hello, here I am providing you the details of the equity loan offered by the Bank of America as under:

About the loan:
Once you’ve built up available equity in your home, you may be able to use a portion of it to help pay for major expenses, such as repairs and renovations, consolidate debt, invest in education or finance other large expenses.

Features:
The relative benefits of a loan for debt consolidation depend on your individual circumstances.
Home Equity Line of Credit: Home Equity Line of Credit (HELOC) interest rate discounts are available to clients who are enrolled or are eligible to enroll in Preferred Rewards at the time of home equity application

Term layer
10-year Glossary Term: draw period layer, followed by a 20-year Glossary Term: repayment period

Line amount
Glossary Term: Minimum layer: $25,000
Glossary Term: Maximum layer: $1,000,000 for a primary residence and $500,000 for second/vacation home

Rates:
Automatic payments
0.25%

Preferred Rewards clients
0.125% to 0.375%

Initial draw
0.10% to 1.00%

Benefits:
Interest may be tax-deductible
No application fee or closing costs
Rate discounts are available
Many convenient ways to access your funds
Fixed-Rate Loan Options are available