![]() California (San Francisco, Los Angeles, Newport Beach, San Diego, Palo Alto, Santa Barbara, Palm Desert)įirst Republic also has strict credit and income requirements to qualify.Loans can only be made in countries where the company is located and licensed to do business. Read our complete guide to student loan consolidation to understand your options. So, refinancing your student loans will prevent you from accessing eligible federal programs. These loans are personal lines of credit. The First Republic has some important limitations that prospective applicants should be aware of before proceeding. Who Qualifies To Apply?Īs we saw above in the interest rates and terms, there are certainly some limits, but eligible borrowers can meet them. However, a $25 monthly maintenance fee will be assessed if you don’t maintain a balance of at least $3,500 in your ATM Rebate Checking account. On this loan, there are no origination, prepayment, or maintenance costs. Make sure to mention The College Investor to claim your $300 bonus!Īlso Read: Paye Student Loan|Repaying Student Loans through the PAY AS YOU EARN (PAYE) Scheme Are There Any Fees? If the account is closed the rate will increase by 5.00%.Ģ.00% if you keep automatic payments and direct credits to your account 0.50% if you deposit and maintain a deposit balance of at least 10% of your approved loans deposits and an additional 0.25% of your approved loan amount maintain a deposit balance of at least 20% ofįinally, get started by calling our personal banker and receive a $300 bonus.Ĭontact him at 61 or e-mail. You can also get an interest rate adjustment of 0.50% to 0.75% by maintaining a minimum account balance.īorrowers must open a checking account with First Republic ATM Rebate. Receive a 2.00% interest rate adjustment when you open a checking account with direct debit and direct debit. Loan Bonus Offersįirst Republic offers solid bonus offers to make this personal loan even more attractive. ![]() The personal line of credit may not be used for business or commercial purposes, investing in the stock market, or making direct payments. There are restrictions on how the funds can be used. You can also use the funds for housing or medical expenses, family planning, or special celebrations. This loan can be used to refinance student loans, credit cards, and auto loans. The minimum amount is $65,000 for him, which is quite a lot. ![]() That’s a solid amount of money, but not the biggest we’ve seen so far. With the First Republic, borrowers can borrow up to $350,000 when they take out a personal line of credit. Read More: Maryland Student Loan Forgiveness Programs | Loan Repayment Programs Loan Amounts If the borrower does not meet these requirements, the interest rate adjustment will be canceled and the interest rate will be increased by 2.00% or 0.50%. To qualify for the 0.50% interest rate adjustment, the borrower must deposit and maintain a minimum deposit balance in the account. These rates include: Includes price adjustments based on To be eligible for the 2.00% interest rate adjustment, applicants must open a First Republic ATM Rebate checking account (“Account”) with automatic loan payments and direct deposit. We currently offer the following rates and terms: There is a 2-year drawdown period, and you can spend your money anytime during the first 2 years.Īnd during those two years, you will only have to pay interest accrued on the amount you borrowed.Īfter two years, the loan is amortized based on the selected term and interest rate. They currently only offer fixed-rate loans and keep things very simple. The great thing about the First Republic is its low price. Here’s a closer look at the features and operation of First Republic’s personal line of credit. Simple, fee-free, and with extremely low rates is the product. One of the most affordable personal lines of credit is available from the First Republic, and you may use it to pay down your student loans. What Borrower Protections Are Available?.
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