Citizens One Personal Loans Review

Citizens One personal loans are a good option for borrowers with good credit who aren’t looking for excessive amounts of cash. The funds are fast, often arriving within two business days, and fee-less, meaning you won’t have to spend extra in order to borrow money.

APR Range
Loan Amount
3–7 years
4.3 / 5.0
SimpleScore Citizens One 4.3
Rates 5
Loan Size 2
Customer Satisfaction N/A
Support 5
Fees 5

Operating as the lending branch of Citizens Bank, Citizens One finances personal loans at low rates for borrowers with above-average or good credit. Citizens One offers personal loans ranging from $5,000-$15,000. It operates as the lending branch of Citizens Bank, which holds over $176 billion in assets. Citizens One makes it possible to receive a personal loan even if you don’t live in one of the 11 states serviced by Citizens Bank. It caps its APR at 21.13% before autopay discounts and holds you to no fees whatsoever.

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In this article

    Citizens One at a glance

    LenderAPRLoan AmountTermsKey Benefit
    Citizens One8.24% — 21.13%$5,000 – $15,0003 – 7 yearsNo fees at all

    What we like about it

    Citizens One stands out for offering personal loans with no fees attached. This means no origination fee, no application fee and no late fee. If you’re concerned by your credit score affecting approval chances, cosigner options are available. A cosigner could open the door for potential borrowers with sub-par credit scores. Citizens One offers not only a 0.25% autopay discount but a loyalty discount as well for existing members of Citizens Bank. This means if you have a bank account or another loan with Citizens One, you qualify for a discount of 0.25% toward your APR.

    Things to consider

    There is no online application, nor are there any options for pre-qualification. This means Citizens One will have to run your credit before letting you know whether or not you’ve been approved. This will ding your credit score for a short time. A hard credit check is a standard practice through the lending industry, but a pre-qualification option lets you see if you qualify without affecting your credit score. This is something to keep in mind if you plan to rate shop for multiple loans, as too many hard credit checks in a short period of time will have an adverse effect on your credit score.

    What you need to know

    You can find personal loans at Citizens One at amounts between $5,000 and $15,000. However, if you don’t live in one of the 11 states serviced by Citizens Bank, which all are scattered throughout the northeast, your max borrowing limit is $5,000.

    Terms are available for as short as three years to as long as seven years. No matter how long you take to pay your loan you won’t have to worry about any fees, not even late fees.  Citizen One offers APRs ranging between 7.99% and 20.90%. The stronger your credit profile, the better shot you have at locking in a low rate. This means that though Citizen One requires a score of only 680 to qualify, this score likely wouldn’t be high enough to secure the lowest possible rate of 7.99%.

    To apply for a personal loan with Citizen One:

    1. Call directly at 1-888-333-0246 or head to a local branch.
    2. Once you’re connected with an agent, let the agent know you’re interested in applying for a personal loan. They’ll let you know what the next steps are and will guide you through the process. Remember, there is no option for online applications. If you live in one of the states serviced by Citizens Bank, you can head to a local branch and apply in person.
    3. Supply the information needed to apply for a Citizens One personal loan. This may include your Social Security number, home address, income, contact information and authorizing a hard credit inquiry.

    Collateral and criteria

    Citizens One personal loans will work for borrowers with above-average credit scores and steady incomes. These loans won’t work for consumers who find themselves between jobs or lacking in credit history. You need an income of at least $24,000 to qualify for a personal loan with Citizens One. These loans are unsecured loans, which means you don’t need to put down any collateral, like a car or a house, to back them.

    Sometimes, lenders are more willing to finance secured loans at a lower APR because the collateral will make up for some of the risks. If you default on a secured loan, the lender doesn’t have to walk away empty-handed. Unfortunately, Citizens One doesn’t offer secured personal loans to customers.

    Citizens One vs. Marcus

    Marcus by Goldman Sachs is best known for offering personal loans and high-yield savings accounts. Marcus offers a similar APR range to Citizens One —  6.99% to 19.99%, which means as long as you qualify, you won’t have to worry about outrageous rates. You should aim to have a credit score of 660 or higher if you want to qualify.

    Another similarity to Citizens One is that there are no fees. However, Marcus beats out Citizens One in potential loan amount, allowing you to borrow up to $40,000 for an unsecured personal loan. It also has an even lower minimum loan amount. You can borrow as little as $3,500. In the end, Marcus trumps Citizens One thanks to a wider range of loan amounts and slightly lower APR.

    Check Your Personal Loan Rates

    Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

    Get Started

    with our trusted partners at

    Citizens One vs. Prosper

    Prosper offers personal loans with APRs ranging from 7.95% to 35.99%. Its max APR is a bit higher than what Citizens One offers for personal loans, but the credit score requirement is not as stringent. You need a FICO score of 640 to qualify , but unlike Citizens One, however, there is no income requirement.

    You can borrow anywhere from $2,000 to $40,000, which is a plus if you thought Citizens One’s loan options were too narrow. Be prepared for a barrage of fees. There is an origination fee between 2.4% and 5% of the loan, along with a potential late fee and insufficient funds fee. If you need a smaller loan amount, Citizens One is the way to go if you want to avoid piling up fees.



    The SimpleScore is a proprietary scoring metric we use to objectively compare products and services at The Simple Dollar.

    For every review, our editorial team:

    • Identifies five measurable aspects to compare across each brand
    • Determines the rating criteria for each aspect score
    • Averages the five aspect scores to produce a single SimpleScore

    Here’s a breakdown of the five aspect scores and their rating criteria for our review of the best personal loans of 2020.

    Why do some brands have different SimpleScores on different pages?

    To ensure the SimpleScore is as helpful and accurate as possible, we developed unique criteria for every category we compare at The Simple Dollar. Since most brands offer a variety of financial solutions, their products and services will score differently depending on what we’re scoring on a given page.

    However, it’s also possible for the same product from the same brand to have multiple SimpleScores. For instance, if we compare NetCredit’s personal loans according to our criteria for the best personal loans, it scores a 2.3 out of 5. But when we compare NetCredit according to the criteria for the best bad credit personal loans, it scores considerably higher, since the criteria for the latter review are more lenient (lenders who serve borrowers with bad credit will always offer higher rates, so we needed to adjust our category methodology to account for different industry standards).

    Questions about our methodology?

    Email Hayley Armstrong at


    We looked at the maximum APR for each lender — the lower their maximum rate, the higher their score.

    Loan Size

    We awarded higher scores to lenders with more generous loan sizes.

    Customer Satisfaction

    We leveraged the J.D. Power 2019 Personal Loan Satisfaction Study℠ to see how customers rated their experience with each lender. (If a lender wasn’t included in J.D. Power’s study, we skipped this aspect and averaged the four remaining aspect scores.)


    We awarded higher scores to lenders with the most channels for customer support.


    We looked at the three most common fees — origination, late payment, and pre-payment — and penalized lenders for each fee charged.

    Bents Dulcio

    Contributing Writer

    Bents Dulcio is a personal finance writer based out of Orlando, Florida. His work has been featured in, and elsewhere.

    Reviewed by

    • Courtney Mihocik
      Courtney Mihocik
      Loans Editor

      Courtney Mihocik is an editor at The Simple Dollar who specializes in personal loans, student loans, auto loans, and debt consolidation loans. She is a former writer and contributing editor to,, and elsewhere.