PDF Loan Repayment Examples Fixed Rate Program

Loan Repayment Examples Fixed Rate Program

TruFit Student Loan?

5 Year Repayment Example

Fixed Rate Pricing

Deferred Repayment*

Origination Fee

Interest Rate**

Annual Percentage Rate

Highest Rate 0%

11.50%

10.23%

Lowest Rate 0% 6.50%

6.06%

Interest Only

Repayment*

Highest Rate

Lowest Rate

0%

0%

11.25%

5.75%

11.26%

5.75%

Immediate Repayment*

Highest Rate 0%

11.25%

Lowest Rate 0%

5.75%

11.25%

5.75%

Monthly Minimum Payment

Payments 1 to 59: $321.18

Payments 1 to 59: $246.58

Payments 1 to 59: $218.66

Payments 1 to 59: $192.17

Payments 1 to 59: $214.69

Payments 1 to 59: $190.36

Payment 60: $320.85

Payment 60: $246.51

Payment 60: $218.66

Payment 60: $191.64

Payment 60: $214.35

Payment 60: $190.16

Total Charge Due to Interest

Interest Only Payment Total Repayment Amount

Potential Savings from Citizens' Automatic Payments***

Potential Savings from Automatic Payments***

$9,270.47 $4,794.73 $7,624.32 $3,832.15 $2,881.06 $1,421.40

NA

NA

$ 4,504.72 $ 2,302.48

NA

NA

$19,270.47 $14,794.73 $17,624.32 $13,832.15 $12,881.06 $11,421.40

$219.24 $176.44 $349.88 $338.71 $136.47 $127.92

$109.62

$88.22

$174.94 $169.36

$68.24

$63.96

*Assumptions: All loans assume a $10,000 loan in the first year of school with two disbursements, a fixed interest rate based on a FICO score (listed above and ranges from 5.75% - 11.50%) for a borrower with a cosigner. Other assumptions include a 45 month in-school period, 6 month grace period, a standard repayment account, and the borrower remains in school through the expected graduation date. The interest-only repayment option requires interest payments during the in-school and grace periods, in addition to the indicated monthly payments over the repayment term. The interest-only payment amount will vary depending on the interest rate on your loan, and the outstanding principal balance each period. The total cost of the loan indicated above includes such interest-only payments for the scenario shown. 5 year examples are provided. Terms and conditions apply. Calculations are estimates only.

** Citizens Bank reserves the right to modify interest rates at any time without notice. Such changes will only apply to applications taken after the effective date of change.

***Citizens' Automatic Payments (ACH Benefit): Borrowers can take advantage of a 0.50% interest rate reduction for automating payment from any eligible Citizens Bank account. Borrowers can take advantage of a 0.25% interest rate reduction for automating payment from any eligible non-Citizens Bank account.

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TruFit Student Loan?

10 Year Repayment Example

Fixed Rate Pricing

Deferred Repayment*

Origination Fee

Interest Rate**

Annual Percentage Rate

Highest Rate 0%

11.75%

10.73%

Lowest Rate 0% 7.25%

6.84%

Interest Only

Repayment*

Highest Rate

Lowest Rate

0%

0%

11.50%

6.50%

11.51%

6.50%

Immediate Repayment*

Highest Rate 0%

11.50%

Lowest Rate 0%

6.50%

11.51%

6.50%

Monthly Minimum Payment

Payments 1 to 119: $208.87

Payments 1 to 119: $151.50

Payments 1 to 119: $140.61

Payments 1 to 119: $113.56

Payments 1 to 119: $138.00

Payments 1 to 119: $112.35

Payment 120: $208.06

Payment 120: $150.33

Payment 120: $139.53

Payment 120: $112.66

Payment 120: $136.71

Payment 120: $112.33

Total Charge Due to Interest

Interest Only Payment Total Repayment Amount

Potential Savings from Citizens' Automatic Payments***

Potential Savings from Automatic Payments***

$15,063.59 $8,178.83 $11,476.82 $6,229.00 $6,558.71 $3,481.98

NA

NA

$ 4,604.70 $ 2,602.70

NA

NA

$25,063.59 $18,178.83 $21,476.82 $16,229.00 $16,558.71 $13,481.98

$504.47 $398.75 $542.25 $503.40 $322.36 $289.43

$252.23 $199.37 $271.13 $251.70 $161.18 $144.72

*Assumptions: All loans assume a $10,000 loan in the first year of school with two disbursements, a fixed interest rate based on a FICO score (listed above and ranges from 6.50% - 11.75%) for a borrower with a cosigner. Other assumptions include a 45 month in-school period, 6 month grace period, a standard repayment account, and the borrower remains in school through the expected graduation date. The interest-only repayment option requires interest payments during the in-school and grace periods, in addition to the indicated monthly payments over the repayment term. The interest-only payment amount will vary depending on the interest rate on your loan, and the outstanding principal balance each period. The total cost of the loan indicated above includes such interest-only payments for the scenario shown. 10 year examples are provided. Terms and conditions apply. Calculations are estimates only.

** Citizens Bank reserves the right to modify interest rates at any time without notice. Such changes will only apply to applications taken after the effective date of change.

***Citizens' Automatic Payments (ACH Benefit): Borrowers can take advantage of a 0.50% interest rate reduction for automating payment from any eligible Citizens Bank account. Borrowers can take advantage of a 0.25% interest rate reduction for automating payment from any eligible non-Citizens Bank account.

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TruFit Student Loan?

15 Year Repayment Example

Fixed Rate Pricing

Deferred Repayment*

Origination Fee

Interest Rate**

Annual Percentage Rate

Highest Rate 0%

11.75%

10.88%

Lowest Rate 0% 7.50%

7.14%

Interest Only

Repayment*

Highest Rate

Lowest Rate

0%

0%

11.50%

6.75%

11.51%

6.75%

Immediate Repayment*

Highest Rate 0%

11.50%

Lowest Rate 0%

6.75%

11.51%

6.75%

Monthly Minimum Payment

Payments 1 to 179: $174.16

Payments 1 to 179: $120.56

Payments 1 to 179: $116.84

Payments 1 to 179: $88.51

Payments 1 to 179: $114.67

Payments 1 to 179: $87.53

Payment 180: $171.87

Payment 180: $119.83

Payment 180: $116.50

Payment 180: $86.41

Payment 180: $114.49

Payment 180: $87.20

Total Charge Due to Interest

Interest Only Payment Total Repayment Amount

Potential Savings from Citizens' Automatic Payments***

Potential Savings from Automatic Payments***

$21,346.51 $11,700.07 $15,635.56 $8,632.50 $10,640.42 $5,755.07

NA

NA

$ 4,604.70 $ 2,702.80

NA

NA

$31,346.51 $21,700.07 $25,635.56 $18,632.50 $20,640.42 $15,755.07

$840.34 $660.69 $769.10 $695.20 $542.45 $476.98

$420.17 $330.35 $384.55 $347.60 $271.22 $238.49

*Assumptions: All loans assume a $10,000 loan in the first year of school with two disbursements, a fixed interest rate based on a FICO score (listed above and ranges from 6.75% - 11.75%) for a borrower with a cosigner. Other assumptions include a 45 month in-school period, 6 month grace period, a standard repayment account, and the borrower remains in school through the expected graduation date. The interest-only repayment option requires interest payments during the in-school and grace periods, in addition to the indicated monthly payments over the repayment term. The interest-only payment amount will vary depending on the interest rate on your loan, and the outstanding principal balance each period. The total cost of the loan indicated above includes such interest-only payments for the scenario shown. 15 year examples are provided. Terms and conditions apply. Calculations are estimates only.

** Citizens Bank reserves the right to modify interest rates at any time without notice. Such changes will only apply to applications taken after the effective date of change.

***Citizens' Automatic Payments (ACH Benefit): Borrowers can take advantage of a 0.50% interest rate reduction for automating payment from any eligible Citizens Bank account. Borrowers can take advantage of a 0.25% interest rate reduction for automating payment from any eligible non-Citizens Bank account.

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