
Aven
4.6 Bankrate ScoreLearn more about Aven
For borrowers prioritizing flexibility, Citizens is definitely worth considering. From smaller HELOC amounts to larger sums, Citizens caters to a range of consumer borrowing needs. Despite the lack of APR transparency and an annual fee after the first year, those living in Citizens’ coverage area will find value in the bank’s in-person support.
Citizens Financial Group, headquartered in Providence, Rhode Island, is one of the nation’s oldest and largest financial institutions, with roots dating back to 1828. Citizens offers a broad range of banking, savings and lending products, including home equity lines of credit. In 2024, Citizens celebrated its 10th year as a public company on the New York Stock Exchange; its IPO is still the largest by a commercial bank in U.S. history.
Citizens Bank offers a standard HELOC and its proprietary GoalBuilder HELOC. Both have variable interest rates.
Among the benefits of the standard HELOC, you can get a 0.25 discount off your rate if you sign up for automatic payments from a Citizens checking account (or auto-withdrawal from any checking account, depending on where you live). The line of credit has a 10-year draw period and a 15-year repayment term. While you can pay both principal and interest during the draw period, you only have to make payments on interest at that time. You’ll need to take out a line for a minimum of $17,500.
The bank’s GoalBuilder HELOC, in contrast, allows you to take out as little as $5,000 and up to $25,000. It has no annual fee or prepayment penalty.
Lack of transparency about the APR, along with the annual fee, results in Citizens scoring a 3.2 out of 5 rating.
Citizens earns a 4.3 out of 5 because of its two distinct HELOC options, and the fact that it’s accessible in a majority of U.S. states.
Citizens scores 4.1 out of 5 due to their speed and breadth of its customer support and application options.
You can tap into your home equity — the difference between your home's worth and what you owe on your mortgage — with a home equity loan or a HELOC. With those funds, you can tackle a variety of expenses, like debt consolidation or home renovations.
However, before you dive in, it's important to figure out your loan-to-value ratio (LTV). Lenders use your LTV to determine how much of your equity stake you can actually borrow. (It’s typically 80 percent, although some lenders allow you to access as much as 90 percent.) The amount of equity they’ll let you tap is one consideration when choosing a lender. Be it a retail bank, online lender or credit union, it may offer different home equity loan rates and terms, too. That’s why it’s important to shop around for the best deal.
Citizens Bank gets a B+ rating from the Better Business Bureau and a 1.2 star rating from Trustpilot, as of this writing.
Many customers on Bankrate say the Citizens application process was “generally straightforward” and “easy” — “a lot easier compared to others I have been acquainted with,” one client confided. Reps win raves for being “knowledgeable,” “professional” and even “compassionate.” While Citizens doesn’t disclose its APRs online, one customer noted how the “rates are affordable and reliable.”
Citizens Bank looks at three main factors when determining eligibility for a HELOC: your credit history (FICO score); your loan-to-value (LTV) ratio; and your debt-to-income (DTI) ratio. The bank doesn’t disclose credit score requirements, but to get the best HELOC rates, you’ll need an LTV ratio of 80 percent or less.
You can apply for a HELOC on Citizens Bank’s website or by calling 888-333-1206, Monday through Thursday, 8 a.m. to 8 p.m. ET, Friday, 8 a.m. to 6 p.m. ET or Saturday, 9 a.m. to 2 p.m. ET. Once you’ve submitted a HELOC application, you will receive a personalized offer in 2-3 minutes and a loan officer will respond to you within one business day. From there, they’ll provide next steps for your application.
Citizens’ FastLine digital application process can be completed in three steps. First, you enter your Personal Invitation Code along with the last four digits of your Social Security number. Then, confirm certain financial information about your property and income, along with personal details about yourself. Once you accept the offer, you can close in as little as 7 days, the lender claims.
Selected lender
![]()
NMLS: 433960
Bankrate score
3.8
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
4.4
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
![]() NMLS: 462289
Bankrate score
4.6
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
3.2
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
![]() Bankrate score
4.2
Bankrate scores are objectively determined by our editorial team. Interest rates, fees, loan terms, borrower requirements and customer service are some of the factors that make up Bankrate's score.
Customer score
N/A
Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate. To help serve you with relevant information, the customer reviews shown are limited to only those that this advertiser has received during the past 12 months.
|
---|---|---|
Loan amount |
||
Starting at $17,500 for HELOC; $5,000-$25,000 for GoalBuilder HELOC |
Up to $400,000 (up to $100,000 in some states) |
Starting at $5,000 |
Min. credit score required |
||
Undisclosed |
640 |
640 |
Repayment terms |
||
10-year draw period and 15-year repayment term |
Standard credit card repayment (at least 1% of the statement balance plus interest); with cash-outs, you can lock in payments for 5-10 years |
15-year draw/15-year repayment period for HELOC; 5–15 years for home equity loan |
Funds available in |
||
Approximately two weeks |
With 7 business days |
Within 30 days of application |
Recent customer review |
||
Bait and switch The bank offers you a rate based on your preliminary application which was constant until the final app approval. Instead of the rate falling (as they have now to 3 year lows) my l... redstone |
Low offer and extremely high rates and fees They offered me a very low amount compared to other lenders and on top of that offered a rate of 9.99% plus 4.5% cash out ( this cash out is a scam because it is an origination fee... Heloc |
Customer review No reviews available yet. N/A |
NMLS: 433960
4.4
25 ratings
92% of customers would recommend this lender.
The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.
Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.
In addition to collecting reviews on-site, Bankrate collaborated with third-party Slice MR to survey 450 users nationwide in July 2024. Bankrate and Slice MR collected, averaged and presented responses to nine questions. Users received an incentive for their feedback. Responses are based on individual experiences, and therefore cannot be verified for accuracy. Submissions with user ratings that are materially inconsistent with written sentiment have been removed. User ratings are unedited and have not been reviewed or approved by lenders, nor do these ratings reflect Bankrate’s own reviews of these lenders.
To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Simple application process?
Closed loan with this lender?
Received funds when promised?
Would you recommend this lender?
Simple application process?
Closed loan with this lender?
Received funds when promised?
Would you recommend this lender?
Bait and switch
redstone
mid-atlantic (April 24, 2025)
The bank offers you a rate based on your preliminary application which was constant until the final app approval. Instead of the rate falling (as they have now to 3 year lows) my loan apr was increased.The loan processor was patient and helpful to garner my filling of the application but no where to be found when I need to question the rate hike.
Simple application process?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
No
Simple application process?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
No
Anonymous Reviewer
(July 1, 2024)
the treat you as a person and want to know what you need to be successful
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Citizens Bank Home Equity were very knowledgeable, compassionate, and fast! The application was very easy, yet thorough. And, the representative was very compassionate towards my reasons for needing the loan
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Closed loan with this lender?
No
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
I'm paid now . This was an earlier property and times were different . Very easy process and we simply showed up and signed . At the time I don't think they did a formal appraisal on the property . Might of just checked comparible sales in the area . We didn't really have to contact them for anything after . Their Branch People were very good .
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Establishing my home equity line was a simple and painless process. I used it several times without issue. I liked having both checks and a credit card to access funds.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
They have very attractive responses during application process such as loan and always they give you a pre-loan clear details and education
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
I found citizens bank home equity loan process to be a lot easier compared to others that I have been acquainted with in the past. Their professionalism and ability to answer any question I had in laymen’s terms without making me feel dumb was nice.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
They respond quickly and their process is easy
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
Very knowledgeable banking associate. He walked up through the whole process and got us a great loan amount. We would only use this home equity if needed but right now we are waiting for closing.
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Anonymous Reviewer
(July 1, 2024)
It was an easy application process they were extremely responsive everything was done online for the most part didn't take any time at all and any questions I had were quickly answered
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes
Closed loan with this lender?
Yes
Would you recommend this lender?
Yes