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Citizens Bank HELOC Review 2026

Item: Citizens Bank
Rating: 4

Last updated on May 8, 2026

Written by

Taylor Getler

Lead Writer & Content Strategist

Edited by

Johanna Arnone

Managing Editor

Fact Checked

Co-written by

Bella Angelos

Contributing Writer

Written by

Taylor Getler

Lead Writer & Content Strategist

Co-written by

Bella Angelos

Contributing Writer

Edited by

Johanna Arnone

Managing Editor

Fact Checked

Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.

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Our Take

4.0

HELOCs

NerdWallet rating

The Nerdy headline:

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.

Jump to:Full Review

Citizens Bank: NMLS#433960

National / regional

National

Max LTV

85%

Min. credit score

680

Loan types and products

Home Equity

Pros

No initial draw requirement.
Offers both a traditional line of credit and an alternative HELOC geared towards affordability.
HELOCs are available for second homes.

Cons

Does not offer a fixed-rate repayment option.
The repayment window is only 15 years, compared to the standard 20.
Charges a $50 annual fee.

Compare great home equity lenders

Lender	Max. loan amount	Max LTV	Min. credit score
4.5 Visit Lenderat Figure at Figure	$750,000	85%	600	Visit Lenderat Figure at Figure
4.5 Visit Lenderat Achieve at Achieve	$500,000	85%	600	Visit Lenderat Achieve at Achieve
4.5 Visit Lenderat New American Funding at New American Funding	$750,000	90%	600	Visit Lenderat New American Funding at New American Funding
4.0 Visit Lenderat NBKC at NBKC	$250,000	85%	720	Visit Lenderat NBKC at NBKC
4.0 Visit Lenderat Better at Better	$750,000	90%	620	Visit Lenderat Better at Better

Full Review

💲Citizens Bank HELOC Rates

HELOC rates are determined by two things. HELOC rates are determined by two things. The first is the prime rate, a benchmark interest rate that banks set to determine the lowest rate offered to their most creditworthy customers. The prime rate is generally set around 3% above the federal funds rate.

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 — last changed Dec. 2025	Prime rate last week	Prime rate in the past year — low	Prime rate in the past year — high	Projected median prime rate for 2026
6.75%	6.75%	6.75%	7.5%	6.4%

Citizens Bank posts sample rates online for both its typical HELOC and its GoalBuilder HELOC.

👍 Reasons to get a Citizens Bank HELOC

Citizens Bank ranked as the nation's largest HELOC lender by volume for 2025.

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.

HELOCs are available for second homes. The maximum HELOC borrowing limit is 85%, which is standard.

» MORE: Best HELOC lenders

🤔 Reasons why a Citizens Bank HELOC gives us pause

Citizens Bank reported that the average time to close on a HELOC is 23 days, which is slightly above the average time reported by lenders surveyed by NerdWallet in 2026 (20 days).

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.

📎 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.

» MORE: What you need to apply for a mortgage

🛒 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 an average of 11 days. Alternatively, shoppers looking for lenders with rate discount options may be interested in a Bank of America HELOC

If you’re put off by Citizens Bank’s relatively short repayment window, you could be a better fit for a PNC 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.

» MORE: HELOC, home equity loan, and cash-out refinance, compared

Borrow from your home’s equity

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Methodology

NerdWallet rates home equity line of credit lenders based on what matters most to borrowers: HELOC rates and fees, how much of a lender’s business is dedicated to home equity lines of credit, HELOC market share, product accessibility, borrowing flexibility and features, customer experience and rate transparency.

We review more than 40 lenders and score HELOC lenders using a weighted system that prioritizes affordability, flexibility and a smooth borrowing experience. Lenders earn higher scores for offering lower borrowing costs, higher combined loan-to-value (CLTV) limits, flexible draw and repayment terms, fixed-rate options, faster closing times and clear, accessible rate information, along with strong customer support throughout the process.

We use a mix of lender-provided information, publicly available data and our own analysis to evaluate each lender. Recent regulatory actions may affect a lender’s score

About the authors

Taylor Getler

Lead Writer & Content Strategist

Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Email: tgetler@nerdwallet.com.

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Bella Angelos

Contributing Writer

Bella Angelos is a contributing writer on the home loans content team at NerdWallet, where she began working in 2023 and has supported multiple teams across a wide range of personal finance topics. She loves the variety of her work and how every day brings not only something new to share, but even more to learn. Growing up in Seattle and earning her journalism degree at Louisiana State University, Bella is Pacific Northwest rooted and Southern grown. She’s happiest whether she’s on an Evergreen State trail or back in the Bayou with a bucket of crawfish. She approaches her work with the same value of balancing multiple perspectives and is passionate about making financial topics approachable for anyone.

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About the editor

Johanna Arnone

Managing Editor

Johanna Arnone helps lead coverage of homeownership and mortgages at NerdWallet. Previously, she worked for more than a decade in magazine publishing, including six years as the editor of Muse, an award-winning science and tech magazine for young readers. She holds a Bachelor of Arts in English literature and a Master of Fine Arts in writing. Johanna has completed coursework in Boston University’s Financial Planning Certificate program. Email: <a href="mailto:jarnone@nerdwallet.com">jarnone@nerdwallet.com</a>.

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