What You Need to Know
Citizens One personal loans offer an interest rate discount. Customers can earn up to 0.50 percent off their interest rate. Signing up for automatic payments qualifies you for a 0.25 percent discount. The other 0.25 percent comes from having another account with Citizens Bank before you apply for a loan. These accounts can include another current or past lending account. A Citizens Bank checking, savings, or money market accounts and other accounts qualify.
Citizens One personal loans do not have fees. There is not an application fee or an origination fee. They do not charge if you pay your loan off early or if you make a late payment. Making a late payment may affect your credit, but Citizens One does not charge a fee.
To apply for a personal loan with Citizens One, you must meet requirements. These include making at least $24,000 per year. You must also have strong credit and a strong credit history to qualify. Citizens One loans are not available to customers with any credit score.
The minimum loan amount for Citizens One is high. Each personal loan must be at least $5,000. You cannot apply for a personal loan lower than that amount. The maximum loan amount is $50,000, depending on if you qualify.
Qualifications to Apply for Citizens One Loans
- Annual Income: >$24,000
- Job History: Current income
- Debt-to-Income Ratio: DOSCC
- Minimum Credit Score: Strong
- Credit History Length: DOSCC
- Credit Bureau Inquiries: DOSCC
- Bankruptcy History: DOSCC
- Past Loan Denial: Can reapply once financial situation changes
- U.S. Citizenship Required: Yes, or permanent resident
- Required Age: Legal according to state
- SSN Required: Yes
- Valid Bank Account Required: Yes
Useful Information About Citizens One Loans
- Business Loans Offered: No
- Cosigner Loans Offered: No
- Joint Loans Offered: Yes
- APR Range: 7.99-20.89%
- Fixed Interest Rates: Yes
- Repayment Options: ACH, check, online, phone
- Payments Due: Monthly
- Payment Methods Fees: Lower interest rate for paying with ACH
- Smallest Loan: $5,000
- Largest Loan: $50,000
- Loan Term Lengths: 3-7 years
Additional Relevant Information
The interest rates for Citizens One are low. They are competitive with other online lending companies. The rate you receive depends on your qualifications. Even the highest rate is lower than other online lending companies.
History and Achievements
Citizens One is the lending side of Citizens Bank. They offer personal, student, and auto loans, along with credit cards for customers. Citizens One also provides student loan refinancing. Citizens Bank serves over five million customers. Citizens Bank and Citizens One is part of the Citizens Financial Group.
Citizens Financial Group is one of the oldest financial institutions in the U.S. They are the 13th largest bank, with headquarters in Providence, Rhode Island.
Citizens Financial has over $161 billion in assets and $123 billion in deposits. There are 1,1000 branch locations with 2,900 ATMs across the United States and Puerto Rico.
Frequently Asked Questions
Can I apply for a loan entirely online?
Yes. Citizens One personal loan application is entirely online. You can apply over the phone if you choose.
What is the lowest my credit score can be?
Citizens One does not specify a minimum credit score. To apply, you need a strong credit history. This could depend on your debt, income, credit score, and credit history.
What is the smallest loan amount available?
The minimum loan amount with Citizens One is $5,000.
What is the largest loan amount available?
The maximum loan amount is $50,000 for Citizens One loans.
What are the loan term lengths?
The loan terms for Citizens One loans range from three to seven years. The term length could depend on how much you want to pay monthly.
Are the interest rates competitive?
Yes. The interest rates are competitive with other lending companies. The interest rate you receive depends on your credit history and additional information.
Are the interest rates fixed?
Yes. Citizens One personal loans offer fixed interest rates for the life of the loan.
What types of loans are available?
Citizens One offers personal loans. You can use the funds for personal, family, and household purposes. You cannot use the money for financing a business or post-secondary education expenses.
What information do I need to apply for a loan?
Citizens One requires a valid SSN, email, and phone number. You must verify your job, income, and bank information.
How long does approval take?
Before applying for a Citizens One loan, you get a rate quote. You will know immediately if you are eligible and what your rate would be. Then you can apply for a personal loan with Citizens One.
How long will it take the money to enter my account after approval?
Once Citizens One approves your loan, the funds transfer within two business days.
If I have been denied a loan before, how long do I have to wait to apply again?
Customers can reapply when their credit situation changes.
What are the payment options to repay my loan?
Payments on Citizens One personal loans are due monthly. If you sign up for automatic payment, you receive a 0.25 percent discount on your loan interest rate.
Can I pay my loan off early?
Yes. There are no fees for paying your loan off early.
Is my information secure?
Citizens One security measures comply with federal laws. Their files, buildings, and computers are secure.
Does this loan company offer a mobile app?
Citizens One may offer an app, but there was not an app listed on the website.
How do I contact customer service?
Through phone or email. Customer service is available Monday through Friday from 8 a.m. to 9 p.m. EST. Saturday they are open from 8:30 a.m. to 5 p.m. EST. You can follow Citizens One on Facebook and Twitter.
Bank Contact Information
Citizens One
855-782-8199
