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Citizens Bank

in Student Loan Refinancing

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Citizens Bank

Unaffiliated

in Student Loan Refinancing

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Overview

Where does Citizens Bank do business?

Citizens Bank is a bank based in Providence, RI. It was founded in 1828 and offers student loan refinancing in 50 states (and Washington, DC).

What APRs does Citizens Bank offer on its student refinancing loans?

The range of APRs you qualify for when refinancing a student loan vary widely by lender and will depend on your creditworthiness and the type of loan you choose. Loans with fixed rates will typically have higher APRs than loans with a variable rate. 

Citizens Bank offers variable rate APRs that range from 2.77% to 8.62%.
Borrowers who choose a fixed-rate refinancing loan can expect APRs that range from 4.74% to 8.24% APR.

How much can you borrow via Citizens Bank?

Loan amounts start at $10,000.

Does Citizens Bank charge an origination fee?

No, Citizens Bank does not charge a loan origination fee.

A loan origination fee is what some lenders charge for processing, underwriting, and funding a loan. Typically fees range from 0.5% to 5% of the loan amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Citizens Bank charge prepayment fees?

Yes, Citizens Bank charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment fees can reduce or even cancel the interest savings of repaying a loan early.

What terms does Citizens Bank offer?

Citizens Bank provides refinancing loans of 5 to 15 years.

What type of borrowers will Citizens Bank consider?

Citizens Bank considers loans applications from:

  • undergraduate degree holders
  • graduate degree holders
  • parents of graduates

What do you need to qualify for a Citizens Bank student loan refinance?

Citizens Bank doesn’t disclose its credit score minimum.

Note that borrowers can add a cosigner to the loan to either meet eligibility requirements or qualify for lower interest rates.

What is the estimated funding time for a student loan refinance via Citizens Bank?

Citizens Bank will typically fund loans within 7 and 14 days of approval.

"Lowest rates shown are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice."
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Contact

Other Services by Citizens Bank

Availability

Available in 50 States and Washington, DC
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period / Deferred Interest (Months)
6
No Origination Fee
Cosigner Optional
Variable APR
2.77% - 8.62%
2% 10%
Loan Amount
Starting at
$10,000
Loan Term (Years)
5 - 15
1 25
Fixed APR
4.74% - 8.24%
0% 30%

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