Pros
- APRs as low as 7.99%
- No origination fees
- No late fees
- High BBB rating
- Joint applications allowed
Cons
- Not available to people without SSN
- Could take 16 business days for funding
Citizens One Personal Loans Review Summary
Citizens One personal loans can be ideal for people with good or excellent credit because it takes a 680 credit score to qualify, which is a bit higher than most lender requirements. Qualified borrowers can get an APR as low as 7.99%, and Citizens One’s maximum APR of 20.89% is lower than many competitors' max APR. Additionally, Citizens One personal loans do not have any fees.
Citizens One personal loans are offered by the national lending division of Citizens Bank, but Citizens Bank personal loans are only offered in 11 states, so people in other states can get personal loans with the Citizens One brand name. Both personal loans are nearly identical, except Citizens One offers up to $5,000, while Citizens Bank will lend up to $15,000.
Below, you can read a comprehensive review of Citizens One personal loans as well as how they stack up against other major lenders.
Citizens One Personal Loan Terms
 | |
| APRs | 7.99% - 20.89% |
| Loan Amount | $5,000 - $15,000 |
| Loan Terms | 36, 48, or 60 months |
| Origination Fee | $0 |
| Prepayment Fee | $0 |
| Late Fee | $0 |
| Minimum Credit Score | Fair* |
| Minimum Income | $24,000+ |
| Loan Purpose | Debt Consolidation, Home Improvement, Big Purchase |
| Time to Receive Loan Money | 4 - 16 business days |
| Other Requirements | N/A |
Citizens One Personal Loan Rates, Fees & Other Terms
Category Rating: 88% (4.4 out of 5)
- Overall APR range: Citizens One personal loans have interest rates of 7.99% - 20.89%.
- How rates are determined: The exact interest rate you will get depends on your creditworthiness – a combination of factors including your credit score, income, debts, credit inquiries, and more.
- Fees: There are no Citizens One personal loan fees. You won’t pay an origination fee for processing the loan, and you won’t be penalized for paying off the loan early. You won’t owe a fee for late payments, either.
- Loan amounts & timelines: Citizens One offers personal loan amounts between $5,000 and $15,000. Their payoff periods stretch from 36 to 60 months.
Citizens One Personal Loan Requirements & Application Info
Category Rating: 76% (3.8 out of 5)
- Minimum credit score: To get a Citizens One personal loan, you will need a credit score of at least 680, according to representatives from the company.
- Minimum income: You will need a minimum income of $24,000 per year.
- Age: You must be at least 18 years old.
- Citizenship: You must be a U.S. citizen or permanent resident.
- Identification: You must have a Social Security number.
- Checking account: You must have a valid checking account.
- Residence: In order to take out a loan from Citizens One, you’ll need to live in a state where Citizens Bank doesn’t have a branch. If there is a branch in your state, the loan will be from Citizens Bank instead.
- Pre-qualification: Citizens One offers a pre-qualification tool that will not affect your credit score. Enter your desired loan amount and personal information such as your address, date of birth, and Social Security number to get a quote on your rates.
- Joint loans: Citizens One allows you to add a co-borrower to your personal loan application.
- Ways to apply: To apply for a Citizens One personal loan, you will need to call 1-888-333-0246 or visit a Citizens Bank branch.
Citizens One Personal Loan Reviews & Transparency
Category Rating: 64% (3.2 out of 5)
- Better Business Bureau: Citizens One has an A+ rating from the BBB but is not accredited. The same goes for its parent organization, Citizens Financial Group, Inc.
- Consumer Financial Protection Bureau: There are around 35 complaints about Citizens Financial Group, Inc.’s personal loans in the CFPB database. The company responds to complaints in a timely manner.
- WalletHub: There is not enough data to give a user rating to Citizens One.
- Transparency: Citizens One is transparent about their personal loan terms, and their website gives out most of the important information. Unlike many lenders, Citizens One discloses both minimum credit score and minimum income requirements, though WalletHub obtained this information by speaking to representatives.
Summary: Citizens One Personal Loans Scores by Review Category
| Category | Score |
|---|---|
| Rates, Fees & Other Terms | 4.4/5 |
| Requirements & Application Info | 3.8/5 |
| Reviews & Transparency | 3.2/5 |
| OVERALL | 11.4/15 |
Citizens One Personal Loans vs. Popular Competitors
| Info | Citizens One | Discover | SoFi |
|---|---|---|---|
| Reviews | |||
| APRs | 7.99% - 20.89% | 6.99% - 24.99% | 8.99% - 25.81% |
| Loan Amounts | $5,000 - $15,000 | $2,500 - $40,000 | $5,000 - $100,000 |
| Loan Terms | 36, 48, or 60 months | 36, 48, 60, 72 or 84 months | 24 - 84 months |
| Minimum Credit Score | Fair* | Fair* | Fair* |
Methodology
In order to provide the most accurate Citizens One personal loan review, WalletHub used 17 key metrics grouped into three overall sections: Terms, Requirements & Application, and Reviews & Transparency. We rated each section on a scale of 0 to 5, with 5 being the best, and then averaged the scores of the three sections to produce an overall rating for the loan.
- The “Terms” section includes information about how expensive the loan is, including rates and fees. It also takes into consideration how much consumers can borrow and how quickly they must pay it back.For companies where APR and fee ranges differ greatly by state, we used data from the most populous state serviced by the company. Citizens One terms do not fluctuate significantly by state, however.
- The “Requirements & Application” section examines how easy it is to apply for a loan and how long it takes to receive the money. It also looks at exactly who is eligible to apply.
- The “Reviews & Transparency” section measures the loan provider’s reputation as well as how clearly the lender discloses its terms and requirements. This takes into account user reviews and information from watchdog organizations.
The average of these three scores reflects how close a loan offer is to WalletHub’s definition of a 5-star loan. For more information, please read WalletHub’s full methodology.
