Bank of America (BAC) is lowering its threshold for consumers who qualify for discounts on loans and other benefits in an effort to win more business from existing customers, according to an article in Reuters

Clients who have at least $20,000 in deposits and investments at the bank will be eligible for the benefits. Previously, the threshold was a minimum of $50,000 in deposits and investments.

The bank is offering lower rates on mortgages and home equity loans, higher interest rates on savings accounts and free stock trades to members of its new "preferred rewards" program.