Citizens Bank HELOC Review 2025
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Our Take
4.0
Citizens Bank is one of the largest HELOC lenders in the country by volume. You’ll find fast closing, and bank customers can get a rate discount. However, Citizens’ HELOC lacks some of the features you might find at other lenders, such as a long repayment window.
Pros
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No initial draw requirement.
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Closing may be available in as few as seven days.
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Offers both a traditional line of credit and an alternative HELOC geared towards affordability.
Cons
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Does not post sample HELOC rates online.
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The repayment window is only 15 years, compared to the standard 20.
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Charges annual fees.
Lender | Max. loan amount | Max LTV | Min. credit score | |
|---|---|---|---|---|
 Visit Lenderat Figure at Figure | $750,000 | 85% | 600 | Visit Lenderat Figure at Figure |
 4.5 Visit Lenderat Achieve at Achieve | $300,000 | 85% | 600 | Visit Lenderat Achieve at Achieve |
 4.0 Visit Lenderat Upstart Mortgage LLC at Upstart Mortgage LLC | $250,000 | 95% | 600 | Visit Lenderat Upstart Mortgage LLC at Upstart Mortgage LLC |
 Visit Lenderat New American Funding at New American Funding | $750,000 | 90% | 620 | Visit Lenderat New American Funding at New American Funding |
 Visit Lenderat NBKC at NBKC | $250,000 | 85% | 720 | Visit Lenderat NBKC at NBKC |
Full Review
💲Citizens Bank HELOC Rates
HELOC rates are determined by two things. The first is the prime rate, which is what banks pay to borrow from one another. The second part is a margin, which the lender calculates based on your financial qualifications (including your credit score, existing debts and income). The prime rate plus your margin equals your HELOC rate offer.
Current prime rate | Prime rate last week | Prime rate in the past year — low | Prime rate in the past year — high |
|---|---|---|---|
7% | 7% | 7% | 8% |
Citizens Bank does not post sample rates online for its typical HELOC; sample rates are posted for the GoalBuilder HELOC.
👍 Reasons to get a Citizens Bank HELOC
Citizens Bank is one of the largest HELOC lenders in the country by volume; in 2024, it was the second largest HELOC lender, only behind Bank of America.
Citizens Bank reported that the average time to close on a HELOC is seven days, much faster than the average time reported by lenders surveyed by NerdWallet in 2025 (24 days).
The maximum HELOC borrowing limit is 85%, which is standard.
Borrowers can get a rate discount by signing up for autopay from a Citizens Bank checking account at enrollment. There are no prepayment penalties, application fees or closing costs.
Customers who meet income and geographic limits may also qualify for the Citizens GoalBuilder HELOC. This specialized loan option is advertised to borrowers seeking an affordable alternative to personal loans or credit cards. It has a maximum credit line of $25,000.
» MORE: Best HELOC lenders
🤔 Reasons why a Citizens Bank HELOC gives us pause
Citizens Bank does not offer a fixed-rate repayment option, and borrowers only have 15 years to repay the line compared to the industry standard of 20 years.
Citizens Bank HELOC borrowers will pay an annual fee of $50 after the first year.
HELOCs are not available for second homes.
📎 Ways to apply for a Citizens Bank HELOC
How to Apply | Availability |
Online 🧑💻 | ✅ |
Over the phone 📞 | ✅ |
Mobile app 📶 | 🚫 |
In person 🏦 | ✅ |
Borrowers can contact Citizens Bank customer service in person, over the phone or via live chat online.
🛒 Alternatives to a Citizens Bank HELOC
Wondering if another lender or product might be a better fit? It’s worth it to shop around to learn more about your options.
HELOC borrowers who are drawn to Citizens’ fast closing should also consider Figure, which offers funding in as few as five days. Alternatively, shoppers looking for lenders with rate discount options may be interested in a PNC Bank HELOC
If you’re put off by Citizens Bank’s relatively short repayment window, you could be a better fit for a CrossCountry Mortgage HELOC, which offers repayment terms up to 30 years.
A HELOC isn’t your only option
You can also explore products outside of HELOCs. Alternatives to home equity lines of credit include a home equity loan, which offers a lump sum with a fixed rate, or a cash-out refinance, which replaces your existing mortgage with a larger loan.
Of these options, Citizens Bank offers cash-out refinancing.
Borrow from your home’s equity
NerdWallet’s HELOC star ratings are independently researched and developed by the editorial team based on the following factors: HELOC lending volume, maximum combined loan-to-value ratio, whether a fixed-rate option is available, initial draw requirements, flexibility of draw and repayment terms, average time to close, interest rate transparency, length of any introductory term below the prime rate, lender fees, availability for second homes, application availability and customer support options. Lenders can receive bonus points for offering options for HELOC rate discounts. A recent regulatory action against a lender may affect its HELOC star rating.
