© Copyright 2016 Citizens Financial Group, Inc. All rights reserved.
Citizens Bank is a brand name of Citizens Bank, N.A. (NMLS ID# 433960) and Citizens Bank of Pennsylvania (NMLS ID# 522615).
Citizens Bank corporate headquarters: One Citizens Plaza, Providence, RI 02903
* Average savings based on 33,437 actual customers who refinanced their federal and private student loans through our Education Refinance Loan between January 6, 2014 and March 31, 2016. The borrower’s savings might vary based on the interest rates, balances and remaining repayment term of the loans they are seeking to refinance. The borrower’s overall repayment amount may be higher than the loans they are refinancing even if their monthly payments are lower.
1 Interest rate reduction of up to 0.50 percentage points is possible with the following discounts:
LOYALTY DISCOUNT: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower has a qualifying account in existence with us at the time the borrower has submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI and VT. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan, and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
AUTOMATIC PAYMENT BENEFIT: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Benefit is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account two or more times within any 12-month period, the borrower will no longer be eligible for this benefit.
Citizens Bank Student Loan™: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer will be required. Citizens Bank reserves the right to modify or discontinue these benefits at any time. Any changes to these benefits will not affect loans issued prior to the change date. Rates subject to change. Citizens Bank private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and – if applicable – self-certification form, school certification of loan amount, and student’s enrollment at a Citizens Bank-participating school. Please Note: International Students are not eligible to receive an offer for the Multi Year Borrowing Option.
2 Borrowers need to remain credit qualified in order to access funds in subsequent years. We reserve the right to discontinue this loan program at any time. If we do so, we will provide you with advance notice. If you enroll in this loan program, your Promissory Note will describe the complete terms, conditions and limitations of the program.
Citizens Bank Student Loan for Parents Eligibility Information: Borrowers must be a creditworthy U.S. citizen or permanent resident residing in the U.S. and must have attained the age of majority in their state of residence. The student whose education expenses will be paid for with the loan proceeds must be a U.S. citizen or permanent resident and must be enrolled at least half-time in a degree granting program at a Citizens Bank-participating school. Citizens Bank reserves the right to modify or discontinue these benefits at any time. Any changes to these benefits will not affect loans issued prior to the change date. Interest rates subject to change. Citizens Bank Student Loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, school certification of the loan amount, and student’s enrollment at a Citizens Bank-participating school.
3 Fixed interest rates range from 6.19% - 6.79% (6.19% - 6.79% APR) based on applicable terms as of February 1, 2016. Rate of 6.29% requires a 10-year repayment term and includes our Loyalty and Automatic Payment Discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Benefit disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.
Rates and offer subject to change. All accounts, loans, and services are subject to individual approval.