Citizen Bank Review
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Citizen Bank Reviews

Lauren Le-Hair


Lauren Le-Hair

Wide range of banking needs
Wide range of banking needs
About Citizen Bank

Citizens Bank has been operating for almost 200 years and is one of the largest financial companies in the US. The company offers full-service banking, including personal services such as online banking, personal loans, student loans, and mortgages through to business banking.

Citizens Bank was founded and remains based in Rhode Island. To this day, the company maintains a strong physical foothold along the East Coast and the Midwest. Citizens Bank manages over $200 billion of assets and will likely have the solution to any banking needs you have.









Citizen Bank Student Loans Review

Citizens Bank provides a large selection of funding options for student loans and student loan refinancing. Citizens Bank offers undergraduate and graduate student loans, parent loans, and other refinancing options. The financial company also offers several unique benefits, such as refinancing loans for people that did not graduate.

Citizen Bank Student Loans Highlights


5.99% - 12.85%


5.99% - 12.62%




5, 7, 10, 15, or 20 years


20 days











Pros & Cons

  • No origination, disbursement, or prepayment fees
  • Can get multiyear approval for the entire duration of your degree
  • APRs available are not the most competitive in the market
  • Less technologically advanced than other student loan providers
  • Not available to people with average or below credit rating

Student Loans Type

  • Private student loans
  • Student loan refinance

Citizen Bank Refinance Highlights


$1,000 - $750,000


5.39% - 11.88%


5.09% - 11.67%

Pros & Cons

  • Can refinance your student loan even if you didn’t graduate
  • Loyalty discounts available for existing customers
  • No origination, disbursement, or prepayment fees
  • APRs available are not the most competitive in the market
  • Less technologically advanced than other student loan providers
  • Not available to people with average or below credit rating

Citizen Bank Student Loans Terms & Requirements

Citizens Bank has a wide range of student loan products available, but all products have similar requirements to take out a student loan. To be considered for a student loan, you (or, in some instances, a co-signer) will need to meet the following requirements:

Undergraduate Student Loans

  • US citizen or permanent resident, but international students can apply with a creditworthy co-signer
  • Enrolled at least half-time in a degree-granting, eligible institution
  • Have good credit or a creditworthy co-signer
  • Have attained the age of majority in your state of residence
  • Have no prior loan defaults

Undergraduate student loans are available for between $1,000 and $150,000. Variable rates are available between 5.99% and 12.02%, and fixed rates between 5.99% and 12.18%.

Graduate Student Loans

Borrowing terms for graduate loans are the same as for undergraduate loans. You can borrow from $1,000 to $150,000 for graduate degrees, $225,000 for MBA and law degrees, or $350,000 for healthcare degrees. Fixed APRs are available from 5.99% to 12.85%, with variable rates available from 5.49% to 12.62%.

Parent Loans

Terms and borrowing amounts are the same for parent loans, but the APR available is slightly higher. Fixed APRs are available from 7.13% to 12.52%, with variable APRs from 6.33% to 12.27%.

Student Loan Refinancing

To be eligible to refinance your student loan with Citizens Bank, you will need to meet the following criteria:

  • US citizen or permanent resident
  • Have at least $10,000 of student loans to refinance
  • Have made at least 12 qualifying payments after leaving school if you have an Associate’s degree or no degree

The amount you can refinance is dependent on your degree type. The following limits apply:

  • Bachelor’s degree or lower – $300,000
  • Graduate degree – $500,000
  • Professional degree – $750,000

Rates for refinancing offered are competitive, with variable APRs between 5.09% and 11.67% and fixed APRs between 5.39% and 11.88%.

For all student loan products, co-signers can be released after 36 months of timely payments, and all loans are available for terms between 5 and 20 years.

On the other hand, the undergraduate and graduate loans are not the most competitive rates we have come across. However, the student loan refinancing rates are good, and the option to refinance even if you have not completed your degree is excellent. Anyone in this position should carefully consider student loan refinancing from Citizens Bank.

How to Apply

We applied for a student loan refinancing loan due to the competitive rates available and the fact that you can refinance without completing a degree. The Citizens Bank student loan page is user-friendly, and we quickly navigated to the starting point.

Screen 1

Get started

To start the process, we had to enter our email address and basic personal details such as name and phone number, and we were prompted to create an account. We were then asked what our reason for refinancing was, with three choices available.

After selecting that we wanted to lower our monthly payments, we were asked to fill out some forms, which included giving our date of birth and citizenship status.

After this, we were asked for details of our degree, existing student loans, and current income.

After entering our income details, we finally entered our address and SSN and selected “Get My Rates”. Doing so generated the student loan refinancing rates available to us. We were happy with the rates offered and chose to proceed. After signing the Loan Agreement and Terms and Conditions, our application was submitted.

The application process was straightforward, and we’d recommend it for people that did not complete their degree. We were told that a final decision on our application would be made within a week, with funding to follow within five business days after that.

Required Information

To apply for a private student loan or student loan refinancing from Citizens Bank, you will need to provide the following:

  • Name
  • Address
  • Proof of ID
  • Date of birth
  • SSN
  • College details
  • Degree details
  • Phone number
  • Email address
  • Income history and proof of income

State Availability

Available in all states

Citizen Bank Online Banking Review

Citizens Bank offers customers a range of checking accounts, savings accounts, Certificates of Deposit (CDs), and Money Market Deposit (MMD) accounts. Citizens Bank has over 1,200 branches in the New England, the mid-Atlantic, and the Midwest. Therefore people in these regions will have the choice between online and retail banking.

While Citizens Bank offers a variety of accounts, its savings and CD accounts are uncompetitive compared to online banks. Details of the products provided by Citizens Bank online bank are shown below.

Citizen Bank Online Banking Highlights


min $1,000


0.01% - 0.07%


Min 0.05%


Over 3,000 fee-free atms







Pros & Cons

  • Well-established company with over 1,000 branches and 3,000 ATMs
  • Monthly maintenance charges are easy to avoid
  • Physical branches are available if you want to talk to someone in person about your financial needs
  • Poor interest rates available compared to online-only banks
  • Branches are only available in 12 states
  • Basic accounts incur a $3 out-of-network ATM fee
  • High overdraft fees

Account Type

  • Checking
  • Savings
  • Certificates of Deposit (CD)
  • Money Market Deposit Account (MMDA)

Citizen Bank Checking Highlights


No minimum


Min 0.05%



Citizen Bank Savings Highlights


No minimum


0.01% to 0.07%




Account Type APY
Citizens Wealth Checking 0.05%
One Deposit Savings 0.01%
Citizens Quest Savings 0.07%
Citizens Wealth Savings 0.10%
CDs 0.03% – 0.20%
MMDs 0.01 – 2%

Features Benefits & Rewards

  • No overdraft fees if $5 or less, otherwise $37 fee charged
  • No maintenance fees if minimum balances met

Account Types

Citizens Bank offers customers five different types of checking accounts.

One Deposit Checking

This is Citizens Bank’s entry-level account offering. The One Deposit Checking account comes with a debit card, check-writing benefits, and a monthly maintenance fee of $9.99. Yet, you can waive this fee simply by making one deposit into the account every month. There is no minimum deposit amount or minimum balance requirement with this account.

Citizens EverValue Checking

The Citizens Bank EverValue Checking account comes with a $5 monthly maintenance fee that cannot be waived. However, the benefit of this account is that there are no overdraft fees charged, which otherwise would cost $37. As with the One Deposit Checking account, there is no minimum deposit amount or minimum balance requirement.

Citizens Quest Checking

The Citizens Quest Checking account is Citizens Bank’s flag-bearing account. This interest-earning account accrues 0.05% on all balances. It also features benefits such as no charge for using out-of-network ATMs and reduced wire orders and money transfer fees. Users are charged a $25 monthly maintenance fee for this account, which can be waived via $5,000 monthly deposits or by holding an average monthly balance of $25,000 across Citizens Bank accounts.

Citizens Wealth Checking

Citizens Wealth Checking account is the highest VIP level account offered by Citizens Bank. This account comes with all the benefits of the Citizens Quest Checking account, plus personalized financial advice tailored towards your needs. There are no associated monthly fees, but you must hold an average monthly balance of $200,000 or more to be eligible.

Student Checking

The Student Checking account is available for those under 25. It comes with no monthly maintenance fee, no charge for out-of-network ATM fees, and no overdraft charges.

One Deposit Savings

The One Deposit Savings account is a complimentary product to the One Deposit Checking account. As with the checking account, a monthly maintenance fee can be waived if you make one deposit each period. There is no minimum balance to open the account, and interest of 0.01% is earned on all balances.

Citizens Quest Savings

If you have a Citizens Quest Checking account, you automatically qualify for a Citizens Quest Savings account. There is no fee or minimum balance requirement, and you will earn 0.07% interest on all balances.

Citizens Wealth Savings

The complimentary product to the Citizens Wealth Checking accounts, the Wealth Savings account offers no fees, enhanced interest rates, and personalized money-management services.


Citizens Bank offers CDs with three different terms; 10 months, 14 months, and 25 months. However, the terms offered are not competitive compared to online banks, with APY ranging from 0.03% to 0.20%. The standard rate is 0.03% for all duration CDs, with 0.10% offered to Citizens Quest account holders on the 14- and 25-month CDs and 0.20% provided to Citizens Wealth customers on the 14- and 25-month CDs. You will need a minimum deposit of $1,000 to take out a CD with Citizens Bank.


There are three money market accounts offered by Citizens Bank, one for all customers, one for Citizens Quest customers, and one for Citizens Wealth customers. APYs provided for these products are as follows:

  • Personal Money Market – 0.01% on all balances
  • Citizens Quest Money Market – from 0.07% up to 1.5%
  • Citizens Wealth Money Market – from 0.10% up to 2%
Account Name Key Features
One Deposit Checking
  • $9.99 monthly maintenance fee that is easily waived
  • Access to online banking
  • Extra time available to cover overdrafts
Citizens Evervalue Checking
  • $5 monthly maintenance fee
  • No overdraft fees to pay
  • No minimum balance requirement
Citizens Quest Checking
  • Access to online banking with extra features
  • $25 monthly fees that can be waived
  • The first overdraft fee each year is waived
Citizens Wealth Checking
  • Personalized wealth management services are available
  • $200,000 average balance required to qualify
  • No associated fees
Student Checking
  • No fees if you are under 25
  • No monthly fees
  • No overdraft fees
One Deposit Savings
  • Easily waived monthly fee of $4.99
  • No minimum balance required
  • Interest earned at 0.01%
Citizens Quest Savings
  • Complimentary with a Citizens Quest Checking Account
  • Accrues interest at 0.07&
  • Unlimited out-of-network ATM transactions
Citizens Wealth Savings
  • No associated fees
  • Enhanced interest rates compared with other products
  • Personalized money services are available
  • A minimum deposit of $1,000 required
  • 10, 14, and 25-month CD at 0.03% to 0.20%
  • Early withdrawal may incur a penalty
  • Returns vary from 0.01% to 2%
  • The return depends on account status and deposit amount
  • Deposits are fully FDIC protected

Opening an Account With Citizen Bank

After comparing the many accounts available with Citizens Bank, we decided we wanted to apply for the Citizens EverValue Checking account to take advantage of the no overdraft charges.

Screen 1

Choose an account

After selecting “Open Account”, we were taken to a portal where we could choose if we were a new or existing customer. Helpfully, we were informed what we would need to provide to open this account.

We selected that we were new to Citizens Bank and stated that it was an individual application. We were then invited to enter our basic information.

After entering these fields, we had to provide our address, date of birth, SSN, and mother’s maiden name for security purposes. We also had to make a W9 Tax Certification declaration, stating that our details provided were correct. Finally, we authorized Citizens to perform a soft credit pull on our account.

After this, we signed multiple disclosures relating to the account and moved to the deposit stage, where we could link an existing bank account to make our first deposit.

The whole process was easy to perform, taking less than 10 minutes in total. The instructions were straightforward, and no aspects of the online application were unclear.

State Availability

Available in all states

Privacy & Security

Citizens Bank has an A+ with the Better Business Bureau and has earned many other awards and recognition over the years, including Forbes Best-in-State Bank 2020, Best Place to Work for LGBTQ Equality 2021, and more.

To protect user data and prevent fraud, Citizens Bank has security measures in place required by law. You can also download its free security software to help make your online banking and shopping secure. The Citizens Bank website details how your personal data is managed comprehensively but clearly.

Customer Support

Citizens Bank customer support is available 24/7 in various methods. It’s essential to note that Citizens Bank has a comprehensive and easy-to-navigate FAQ section. You can contact the Citizens Bank customer support team via phone, online chat, or through one of 1,200 Citizens Bank branches.

We contacted customer support via phone to ask questions about student loan eligibility. We were placed on hold for some time, but once we were put in contact with the student loans team, our questions were answered knowledgeably and quickly.

Phone Support
9am-8pm EST
9am-5:30pm EST

In Conclusion

Citizens Bank provides customers with a full suite of banking services, from student loans to online banking. The long-established financial company has also amassed an incredible reputation since its establishment. Its physical presence, specifically on the East Coast, New England, and the Midwest, means that you get help easily. Citizens Bank offers competitive products and services, especially student loan refinancing for people that did not graduate.


Do I need a good credit score to get a loan from Citizens Bank?
Citizens Bank does not disclose the required credit score, but it is known that applicants need a good to excellent credit rating.
Does Citizens Bank offer private or federal student loans?
Student loans offered by Citizens Bank are private only.
Is Citizens Bank safe?
Yes! Citizens Bank has been operating for almost 200 years and is a fully regulated FDIC bank.

Citizen Bank Disclaimer

Citizens Financial Group, its affiliates, and subsidiaries, including Citizens Bank, NA (“Citizens”), are providing the website (the “Site”) to you subject to the following terms (“Terms”). These Terms should be read carefully as they exclude or limit Citizens’ liability and set forth the terms and conditions which apply to your use of the Site. By using the Site, you agree to be bound by the Terms below. If at any time the provisions of these Terms are not acceptable to you or if you do not agree to be bound by these Terms, please discontinue your use of the Site.

The information and material contained within the Site and the terms, conditions, and descriptions that appear are subject to change. Unauthorized use of this Site or unauthorized entry into Citizens’ systems, misuse of passwords, or misuse of any information contained within the Site is strictly prohibited.

The availability of products and services described on the Site and associated fees, charges, interest rates, and balance requirements may differ among geographic locations. Your eligibility for products or services described in the Site is subject to Citizens’ approval in its sole discretion.

Investment services are not bank deposits and are not insured by the FDIC or any other third party, and are subject to investment risks, including the loss of the principal amount invested. You are hereby authorized to view the information contained in the Site and print pages in the Site for informational, non-commercial purposes only.


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Lauren Le-Hair

As an experienced content writer, Lauren’s passion for the finance sector is only exceeded by her love of writing. Lauren specializes in the financial industry, drawing on her knowledge and experience to deliver top-quality, specialized content with an expert tone of voice and a unique flair. She also holds a First Class (Hons) Batchelor’s degree from Staffordshire University.