SuperMoney 

Citizens Bank

in Private Student Loans

Unaffiliated Visit Site

Citizens Bank

Unaffiliated

in Private Student Loans

SuperMoney Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

Strongly not recommended

0 users recommend
0 users are unsure
1 user doesn't recommend
Cast your vote
Cast your vote

Would you recommend Citizens Bank to your friends?

Thanks for your vote!

Thanks for your vote!

You voted: May or may not recommend

Overview

Citizens Financial Group is one of the largest banks in the United States, with $137.3 billion in total assets and 1,200 branches. Citizens is also one of the oldest banks in the U.S. It was founded in Providence, Rhode Island, back in 1828, as the High Street Bank, which then established Citizens Savings Bank in 1871. Citizens Bank still has its headquarters in Providence, RI. It has a D rating with the BBB and a four-star rating with Bauer Financial. 

Citizens Bank offer a wide selection of business, personal and student loans. 

How Do Citizens Bank's Student Loans Work?

Citizens Bank runs the full gamut of student loans. It provides student loans to undergraduate students, graduate students, students' parents loans, and also refinancing of existing student loans. Its student loans can be set as variable rate or fixed rate loans. Its rates are among the lowest in the market, have flexible payment options and there are no origination or disbursement fees to worry about. Borrowers who already have an account with Citizen or who enroll in automatic payments receive rate reductions of up to 0.50%. Citizen also provides borrowers with a Multi-Year borrowing option that streamlines future loans once a borrower is approved for an initial loan. 

What Are Citizens Bank's Rates and Terms?

The rates for Citizens student loans vary widely depending on credit profile, loan amount, educational attainment and loan type. 

For private student loans, you can choose between having a variable or fixed APR.

    • Citizens Bank's variable rate APRs range from 3.12% to 10.67%.
    • Citizens Bank's fixed rate APRs range from 5.09% to 11.8% APR.

How Much Money Can I Borrow from Citizens Bank?

Maximum loan amounts range from $1,000 to $295,000 and terms vary from 5 to 15 years. The monthly payment of a loan varies widely depending on the rate you qualify for and whether you start repaying the loan immediately or defer payments till you graduate.

For example, a $10,000 loan with a 10-year repayment period and an 8.44% APR will have monthly payments of $122 and a total cost of $14,632, if the borrower starts making payments immediately. On the other hand, a borrower with the same loan that only makes interest payments (but no principal payments) will pay $124 a month at a total cost of $18,214.

Which States Does Citizens Bank Operate In?

Citizens Bank offers student loans online to borrowers from all 50 states, as long as they attend an eligible school.

How Is Citizens Bank Better than Other Lenders?

If you have excellent credit and a solid source of income, Citizens has among the lowest rates available. It has extremely flexible payment schedules of 5 to 15 years and the option to start making payments immediately, only paying interest, or deferring payments to after graduating. It also caters for undergraduate, graduate, student parents' loans and refinancing of existing loans. 

Existing clients and people willing to enroll in automatic payments receive rate reductions of up to 0.50%. There are no application, origination or disbursement fees which can cost anything from 1% to 5% with other lenders. Loan amounts are flexible: anything from $1,000 to $295,000. 

CITIZENS BANK Disclosure: "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."
SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Contact

Other Services by Citizens Bank

Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • 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 for Late Payment (Days) 6
No Origination Fee  
No Prepayment Fee  
Cosigner Optional  
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
  • Non-Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Verification Documents Required
  • Proof of Income
  • Proof of Residence
  • References
  • Proof of citizenship/residence (Green Card)
Variable APR 3.12% - 10.67%
Loan Amount $1K - $295K
Loan Term (Years) 5 - 15
Fixed APR 5.09% - 11.8%

Reviews

 
 

Would you recommend Citizens Bank to your friends?

Before we publish your vote:

Please explain your vote by sharing your experience.

Writing a review increases the credibility of your vote and helps your fellow users make a better-informed decision.

Please write a review to submit your vote
Cancel my vote
(will require moderator approval)

Other Private Student Loans