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Citizens Bank Personal Loans Calculator & Overview

Updated 10 Aug 2023

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Citizens Financial Group, Inc. was founded in 1828. It is one of the oldest and largest financial services firms in the United States. Citizens Bank is headquartered in Providence, Rhode Island.

What are the costs of a Citizens Bank loan? To get your estimated monthly repayments, use the Citizens Bank personal loans calculator. Compare the terms, costs, and features with those offered by other lenders.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

A quick guide to personal loans from Citizens Bank

You may be able to get the money you need with the help of a personal loan from Citizens Bank. If approved, it can cover expected expenses, unforeseen costs, and other large purchases. Use the funds for home renovation, medical bills, school tuition, or debt consolidation.

Citizens Bank personal loan features

Below is an outline of the key features and benefits of a Citizens Bank personal loan:

Loan amounts: $5,000 – $50,000
Loan terms: 36-48 months
Loan fees: $0 annual fee, $0 origination fee, $0 late payment fee, $0 prepayment fee
Repayment frequency: Monthly
Interest rates: 6.77% – 20.86% APR
Rate reduction: 0.25% autopay rate reduction; 0.25% loyalty rate reduction
Minimum annual income: $24,000
Required credit score: excellent (over 750

Requirements for Citizens Bank personal loan

Here’s the step by step process of applying for a personal loan from Citizens Bank:

1. Request a rate quotation. You have to provide the following details:

Your name
Requested loan amount
Phone number
Email address
Social Security number
Date of birth
Address

2. Once you’ve received a rate quote, it will perform a soft pull of your credit report, but it has no impact on your credit score.

3. Submit the following information:

Proof of your income
Employment background
Monthly living expenditures
Other debts

4. Citizens Bank will perform a hard pull of your credit report to get your score.

Citizens Bank personal loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

Change

Citizens Bank personal loans

Estimated Month Repayments

$837 Inclusive of fees

Interest Rate

28.90%
APR

Repayment Period

12 months
to 60 months

Loan Amounts

$1,000
to $20,000

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Wells Fargo personal loans

Estimated Month Repayments

$606 Inclusive of fees

Interest Rate

5.74%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$3,000
to $10,000

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Checking and savings accounts and credit cards for your everyday business expenses and cash management.

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Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments

$848 Inclusive of fees

Interest Rate

29.90%
APR

Repayment Period

12 months
to 12 months

Loan Amounts

$1,000
to $20,000

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

Pros and cons of getting a Citizens Bank personal loan

Pros

Higher loan amounts than other lenders
Funds disbursed usually within 2 business days
No origination, application or disbursement fees
No prepayment penalty
Interest rate discount

Cons

$24,000 minimum income requirement
Reasonably strong credit history requirement
Loyalty discount is only available to borrowers from selected states

Frequently asked questions

How much can I borrow from a Citizens Bank personal loan?

Citizens Bank finances personal loans between $5,000 and $50,000.

What are the fees associated when taking out a loan from Citizens Bank?

There are no fees involved. You don’t have to worry about annual fees, origination fees, late payment fees, and prepayment fees.

What are the available loan repayment terms?

Loans can be repaid for as short as 36 months and as long as 84 months.

What is the estimated APR of a Citizens Bank personal loan?

Rates start at 6.77% for borrowers with a strong credit rating and can go up to 20.86%.

What are the discounts available for a Citizens Bank personal loan?

You can potentially get a 0.25% discount if you set up automatic payments. An additional 0.25% loyalty rate reduction is available to eligible borrowers.

Citizens Bank Personal Loans Calculator & Overview