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Citizens Bank offers impressive student loan and refinancing services, giving customers the opportunity to receive the most attractive interest rates with its variety of incentives and deals. It is an ideal solution for customers looking for a flexible multi-year student loan or refinancing solution.
Pros
Multi-year approval to cover full period of studies
Incredibly versatile amount of options for repayment
Cons
Limited forgiveness programs and options
Loyalty discount dependant on availability of bank branches
Citizen Bank at a glance
9.2
Editorial score
Online experience
Has learning resources, access to rates, mobile app
10.0
Customer services and support
Multiple ways of reaching lender, wide range of hours
8.0
Repayment flexibility
Offers multiple repayment plans- but no special repayment programs
8.0
Eligibility
Loans available to all credit types, income levels, and students
10.0
Variety of Loan Types
Offers all loan types
10.0
Citizens Bank at a Glance
Ranked as one of the largest retail banks in the United States, Citizens Bank is one of the oldest and most established financial institutions in the country. The company offers a variety of banking and lending services, including its burgeoning student loans division. Today, Citizens Bank delivers lending services to a variety of students at different stages of their education alongside convenient refinancing programs designed to help graduates repay their outstanding loans more easily. The bank has won an impressive number of awards and recognitions over the years thanks to its innovative products and outstanding customer service. Also, the company’s student lending arm offers customers a quick online solution to go along with its brick-and-mortar services.
Suitable for Whom?
With a wide variety of loan terms, rates, and amounts available, Citizens Bank presents an applicable financing solution for a wide range of borrowers. The company’s outstanding financing amounts make them ideal for graduate students and those specializing in certain fields, such as medicine and healthcare. With loan amounts that can reach up to $350,000, medical students and other health-related fields can take advantage of a multi-year loan that will cover all their expenses. In addition, customers can take advantage of the company's incentives to cut down their starting interest rates and save more over the long run. Borrowers looking to refinance their existing loans can also benefit from a high ceiling available for refinancing amounts, as well as competitive interest rates that can result in significant savings down the line.
Loan Features
There are several features and characteristics that help Citizens Bank stand out from the competition. The bank underwrites an excellent variety of loans for different educational tracks, including graduate and undergraduate studies as well as medical school and business or law schools. Borrowers benefit from the company’s no-fee policy, which eliminates application, origination, and disbursement fees along with penalties for loan prepayment. Moreover, Citizens Bank offers an excellent range of interest rates that can be lowered significantly through a variety of programs and incentives. For individuals with outstanding loans, the company allows refinancing for students that have not completed their degree if they are no longer enrolled. Additionally, customers that sign up with a cosigner can have them released after 36 consecutive payments made on time. Citizens Bank also provides customers with a longer grace period following graduation than many of its competitors. Customers who require a more personal touch can contact the company at any of their physical locations across 11 states. Finally, one of the biggest standouts for Citizens Bank is their inclusion of multi-year loans, which many competitors do not issue under any circumstances.
Some Citizens Bank highlights:
Receive a loan amount that covers several terms with multi-year financing
Lower interest rates by as much as 0.50% with incentives and benefits
No application, disbursement, or origination fees
Flexible range of loan terms and amounts
Interest rates can be lowered by starting payments earlier
Refinance loans even if academic program was not completed
Visit any of the company’s physical branches for in-person assistance
Different loans available for specialized degree programs
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.
See what some customers are saying about Citizen Bank
Bad • Reviews 471
on
Excellent
3%
Great
0%
Average
0%
Poor
3%
Bad
93%
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Charlie Y.
1 month ago
Citizens HELOC experience
I applied for a HELOC and the process was so simple and easy. The whole process took 2 weeks to close. The loan processor was very helpful in answering all my questions and followed up thoroughly. I managed the whole process online and by phone. I would definitely recommend Citizens for HELOC services.
RI
RICHARDSON/L
7 months ago
Singing praises to Citizens Bank and…
Singing praises to Citizens Bank and Raphael who helped me with a technical issue. My main branch is in Waterford and Sharon has also been a wonderful help whenever we have had questions. Have been with Citizens since they merged with the bank I began with, in Mystic, decades ago. Wonderful customer service at each branch of Citizens - have always met lovely people at all of their branches, regardless of where I lived, regardless of where they are based. Am deeply grateful.
ma
madi
7 months ago
The woman Robin who was on the phone…
The woman Robin who was on the phone with me for over an hour was so patient and kind and really tried helping me through my issue. It was tough and annoying but she was truly kind and helpful and fixed the issue.
Linda Backus
9 months ago
I always have a very good experience…
I always have a very good experience with the staff at Citizens Bank,Branch 2 in East Harwich, MA
Yesterday, the Branch Manager, took such good care of me in my quest for a wire transfer. She is always knowledgeable, accommodating and pleasant. She goes out of her way to meet my needs. It is a busy branch, but the team works together and it runs smoothly! It is always a pleasure to do business with a fine group of professionals.
Adriana H Caroli
9 months ago
Amazing customer service
I am so glad that the Ladies who work there actually care about you. I go there at least 2 times a week and i am thankful that they always welcome me with a smile.