Citizens Bank Student Loans Review

#5 in Student Loans

Citizens Bank is a financial institution that provides commercial banking, credit cards, mortgage, loan services, mobile banking, baking, check, savings and student loan services. The company offers banking convenience with its round-the-clock mobile and online service.

Loan Service Category

Direct Loan Service

Services and Features

Citizens Bank offers private student loans which have multiple term options of 5, 10, and 15 years. Both of their 5-year and 10-year term provides low interest rates and total cost of borrowing. Their 15-year term for student loans has the lowest monthly payment offered for borrowers but have the highest interest rate and cost of borrowing.

The service provider has a lot of benefits to offer to their customers such as zero disbursement, origination, and application fees. They also do not charge their of any prepayment penalties and has a variety of repayment options that student borrowers and parents can choose from.

Customers can have the freedom to borrow up to $170,000 depending on their educational level. They have competitive fixed and variable rates available that can meet the budget range of their customers. Student borrowers are encouraged to apply with a co-signer for them to be qualified of low interest rates and increase their chance to be approved.

Loan Rates Offered

Fixed Rate

Variable Rate

Types of Student Loans

Federal Student Loans

Private Student Loans

Student Loan Details

Minimum Loan Amount

$1,000

Maximum Loan Amount

$170,000

Loan Term Period

5 to 15 years

Rates

Variable Rate: 2.94% to 9.19% APR

Fixed Rate: 5.75% to 11.25% (For 10 Years)

Application

Online Application

College Scholarship Search

Student Loan Calculator

Application Process Time

A few minutes

Other Loan Related Fees

Origination Fee

Loan Application Fee

Late Fee

Help and Support

Live Chat

Email

Phone

FAQs

Eligibility

  • Must be a U.S. citizen or permanent resident
  • Must have a good credit or qualified co-signer
  • Must be enrolled at least half-time in a degree-granting program at an eligible school
  • Must be of legal age in their state or residency for student borrower or co-signer

Student Loan Limits

 

Total Citizens Bank Student Loan

Undergraduate

$90,000

Graduate

$110,000

Medical and Dental

$130,000

Business and Law

$170,000

Rates

Variable Rate for Undergraduate Student Loans

 

APR

Interest Rate

Monthly Payment

Immediate Repayment

2.94% to 9.19%

2.94% to 9.19%

$95.82 to $125.78

Interest Only Repayment

2.94% to 9.19%

2.94% to 9.19%

$96.29 to $127.70

Deferred Repayment

4.83% to 8.73%

4.94% to 9.44%

$127.64 to $177.42

*Details stated above are for $10,000 loan amount to borrow with 10 years repayment term

Fixed Rate for Undergraduate Student Loans

 

APR

Interest Rate

Monthly Payment

Immediate Repayment

5.75% to 11.25%

5.75% to 11.25%

$108.73 to $136.61

Interest Only Repayment

5.75% to 11.25%

5.75% to 11.25%

$109.77 to $139.16

Deferred Repayment

6.78% to 10.48%

7.10% to 11.50%

$150.71 to $204.65

*Details stated above are for $10,000 loan amount to borrow with 10 years repayment term

Variable Rates for Graduate Student Loans

 

APR

Interest Rate

Monthly Payment

Immediate Repayment

2.94% to 8.94%

2.94% to 8.94%

$95.82 to $124.50

Interest Only Repayment

2.94% to 8.94%

2.94% to 8.94%

$96.29 to $126.37

Deferred Repayment

4.69% to 8.94%

4.69% to 9.19%

$114.85 to $151.00

*Details stated above are for $10,000 loan amount to borrow with 10 years repayment term

Fixed Rates for Graduate Student Loans

 

APR

Interest Rate

Monthly Payment

Immediate Repayment

5.49% to 10.99%

5.49% to 10.99%

$107.50 to $135.22

Interest Only Repayment

5.49% to 10.99%

5.49% to 10.99%

$108.49 to $137.72

Deferred Repayment

6.43% to 10.87%

6.49% to 11.25%

$128.72 to $170.19

*Details stated above are for $10,000 loan amount to borrow with 10 years repayment term

Student Loans at Citizens Bank

Citizen Bank provides good options with its low and competitive rates for student loans. It does not only offer better convenience with its online banking services but also has a good list of benefits. This makes them a good choice for students and parents searching for student loans.

 

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