The application process for personal loans at Citizens Bank is designed to be quick and convenient. Once approved, your loan will have either a competitive fixed or variable interest rate, and you can choose a monthly payment date that suits your payment schedule. Your interest rate depends on your credit score and the amount of money you borrow. Whether you're looking for a consumer loan or want to borrow against the equity in your home, Citizens Bank can tailor a loan to your budget.
Use a Citizens Bank personal consumer loan to pay education expenses or medical bills, or to buy a car, boat or mobile home. Personal loans can also be used to consolidate credit card and other consumer debt into one fixed-rate loan. You can save money every month.
As an alternative to a personal consumer loan, you can apply for a home equity loan or home equity line of credit. Similar to consumer loans The home equity loan has a fixed interest rate. A home equity line of credit is usually a variable-rate loan that can fluctuate. Home equity loans are distributed as a lump sum as opposed to a line of credit that you can draw on as needed.
Make your monthly Citizens Bank personal loan payment through an automatic debit from your Citizens checking or savings account. And your interest rate can be reduced. You can also make loan payments at an ATM or through Citizens Bank's online bill pay feature. Apply for your loan in person, at a bank branch, by email or by calling 1(800) 444-6989. If you submit all the necessary information by phone, you can be approved within a day.
Before you choose a loan, Use Citizen Bank's online calculator to see your monthly payments. Enter the loan amount you want to borrow and experiment with different down payments and interest rates to find the best combination of loan features for you. You can also calculate the tax benefits of a particular loan.
Compare the benefits of a private consumer loan with those of a home equity loan. If you use the money from a home equity loan or home equity line of credit for a home improvement project, the interest is likely to be tax deductible. Deducting loan interest on your tax return can lower your tax liability in the year you paid the interest.
What is a variable interest rate?
A variable interest rate refers to a variable interest rate that changes over the life of the debt obligation. It is the opposite of a fixed interest rate, with the interest rate changing during de
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