1All loans originated by Citizens Bank. Variable rate, based on the one-month London Interbank Offered Rate ("LIBOR") published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As of November 1, 2016, the one-month LIBOR rate is 0.53%. Variable interest rates range from 2.53%–10.28% (2.53%–10.28% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 5.25%–11.99% (5.25%–11.75% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include the Citizens Bank Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount 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. Please note: Due to federal regulations, Citizens Bank is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.
2Average savings based on 42,744 actual customers who refinanced their federal and private student loans through Citizens Bank’s Education Refinance Loan between January 6, 2014 and July 25, 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.
3Interest 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 a new Citizens Bank Student Loan if the borrower or co-signer (if applicable) has a qualifying account in existence with Citizens Bank at the time the borrower and co-signer (if applicable) have submitted a completed application authorizing Citizens Bank to review the credit request for a Citizens Bank Student 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 any private student loan owned by Citizens Bank, N.A. Please note, not all products are available in all states, and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Approval Disclosure that will be provided once the loan is approved. There is a limit of one loyalty discount per loan, and the 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 Citizens Bank’s loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If Citizens Bank’s loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.