First Republic Bank loans overview September 2018 |
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First Republic Bank loans

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Personal, business, student and home loan options with a personal touch.

When online lenders can’t give you the service you need, you might want to look into borrowing from First Republic Bank. It’s clear walking into this small national bank that it takes customer service to a new level: You won’t find tellers, just bankers who personally take care of your needs.

It’s not for everyone, however. Its branches concentrate on the coasts, and you generally need good or excellent credit to qualify for most loans.

What types of loans does First Republic Bank offer?

First Republic Bank covers the borrowing basics through:

Personal loans. Borrow from $60,000 to $250,000 with terms of up to 5 year(s) through unsecured personal loans and lines of credit. Rates are variable and based on the Wall Street Journal Prime Rate .

Read First Republic Bank personal loan review

Business loans. Small, established businesses can take out secured term loans and lines of credit starting at $60,000 with terms of up to 10 year(s). Rates depend on your business financials, though credit lines start at the WSJ Prime Rate plus 0.15%.

Read First Republic Bank business loan review

Student loan refinancing. Do you have excellent credit and between $40,000 and $300,000 in student loans? First Republic Bank offers refinancing with rates from 1.95%–3.95% (with autopay) and loan terms from 5 year(s) to 15 year(s).

Read First Republic Bank student loan refinancing review

Residential loans. First Republic Bank offers a wide range of home loans, including loans to cover the cost of building your own home, mortgages, single-family co-op and condo home loans, vacation and second-home loans and home equity lines of credit. Rates, terms and loan amounts vary by program.

Why should I consider taking out a loan with First Republic Bank?

  • Highly competitive rates. The rates on First Republic Bank’s student loan refinancing are lower than most federal student loans. Its other loans come with rates that vary by creditworthiness.
  • Stellar customer reviews. First Republic’s branches consistently earns four- and five-star ratings on Yelp.
  • High amounts available. Offering personal loans of up to $250,000 and no maximum on business loans, this bank could be a particularly solid resource if you’re looking to fund a large project.
  • Personal touch. You can’t apply for a loan without a banker walking you through your choices and recommending options based on your specific situation.
  • Friendly to nonprofits. In addition to traditional bank loans, First Republic Bank offers a special program to help nonprofits and organizations qualify for financing.

Where does First Republic Bank fall short?

  • Good or excellent credit only. You’ll typically need a credit score of 700 or higher to qualify for a loan from this bank.
  • High minimum loans. Personal and business loans start at $60,000, so it might not be the best source for small-dollar costs.
  • Not available nationwide. First Republic Bank operates branches in California, Connecticut, Florida, Massachusetts, New York and Oregon only.
  • Requires First Republic account. While it’s not an unusual bank requirement, you’ll need to open a checking account with First Republic Bank to be eligible for a loan. Rates on its business and personal loans partially depend on your banking relationship.

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Rates last updated September 19th, 2018

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Unfortunately, none of the personal loan providers offer loans for that credit score. If you are in urgent need of a small loan, you might want to consider a short term loan.
Name Product Product Description Min. Credit Score Max. Loan Amount APR
Credible Personal Loans
Get personalized rates in minutes and then choose a loan offer from several top online lenders.
Good to excellent credit
4.99%–36% (fixed)
Even Financial Personal Loans
Get connected to competitive loan offers instantly from top online consumer lenders.
4.99%–35.99% (fixed)
SoFi Personal Loan Fixed Rate (with Autopay)
No fees. Multiple member perks such as community events and career coaching.
6.990% – 14.865% (fixed)
NetCredit Personal Loan
Check eligibility in minutes and get a personalized quote without affecting your credit score.
34%–155% (Varies by state) (fixed)
Monevo Personal Loans
Quickly compare multiple online lenders with competitive rates depending on your credit score.
3.09%–35.99% (fixed)
Best Egg Personal Loans
A prime lender with multiple repayment methods.
640 FICO®
5.99%–29.99% (fixed)
LendingClub Personal Loan
A peer-to-peer lender offering fair rates based on your credit score.
6.16%–35.89% (fixed)
FreedomPlus Personal Loans
Consolidate debt and more with these low-interest loans. Cosigners welcome.
4.99%–29.99% (fixed)
OneMain Financial Personal and Auto Loans
An established online and in-store lender with quick turnaround times. Poor credit is OK.
16.05%–35.99%* (fixed)
OppLoans Installment Loans
Installment loans with competitive rates from a top-rated direct lender.
Bad credit accepted
99%–199% (fixed)

Compare up to 4 providers

Rates last updated September 19th, 2018
Unfortunately, none of the business loan providers currently offer loans for these criteria.
Name Product Product Description Min Loan Amount Max. Loan Amount Requirements
LoanBuilder, A PayPal Service Business Loans
Customizable loans with no origination fee for business owners in a hurry.
Annual business revenue of at least $42,000, at least 9 months in business, personal credit score of 550+.
Lendio Business Loan Marketplace
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Must operate a business in the US or Canada, have a business bank account and have a personal credit score of 560+.
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
Lending Express Business Loan Marketplace
At least 3 months in business and $10,000+ in monthly revenue. Your business might also qualify if it's been in business at least 6 months with $3,000+ in monthly revenue.
Excel Capital Management Small Business Loans
Get personalized financing options that suit your unique business needs in just a few simple steps.
Varies by loan type
Varies by loan type
Your business must operate in the US, be at least 1 year old and have monthly revenue of $15,000+.
Fora Financial Business Loans
No minimum credit score requirement and early repayment discounts for qualifying borrowers.
Business age 6+ months. Monthly revenue $12,000+. No open bankruptcies.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
2+ years in business; $50,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
LendingTree Business Loans
Multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
National Business Capital Business Loans
Get a large business loan to cover your financing needs, no matter what the purpose is. Startups welcome with 680+ credit score.
Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
Kabbage Small Business Line of Credit
A simple, convenient online application could securely get the funds you need to grow your business.
Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.

Compare up to 4 providers

Rates last updated September 19th, 2018
Name Product Min. Credit Score Max. Loan Amount APR Product Description
Credible Student Loan Refinancing
Good to excellent credit
2.57%(As low as ) (variable)
Get prequalified offers from top student loan refinancing providers in one place.
SoFi Student Loan Refinancing Variable Rate (with Autopay)
full balance of your qualified education loans
2.570%–6.980% (variable)
A leader in student loan refinancing, SoFi can help you refinance your loans and pay them off sooner.
Purefy Student Loan Refinancing
2.57%–8.69% (variable)
Refinance all types of student loans — including federal and parent PLUS loans.
Earnest Student Loan Refinancing Variable Rate (w/ autopay)
no maximum
2.47%–5.87% (variable)
Get a tailored interest rate and repayment plan with no hidden fees.
PenFed Student Loan Refinancing
3.25%–7.03% (fixed)
Straightforward refinancing with competitive rates.
CommonBond Student Loan Refinancing
2.72%–7.25% (with autopay) (variable)
Trade in your existing school loans for competitive APRs that come with a discount for autopay.
LendKey Student Loan Refinancing (with AutoPay)
2.51% (As low as) (variable)
Find competitive rates and unmatched loan benefits from LendKey’s network of not-for-profit lenders.
LendingTree Student Loans
Good to excellent credit
Varies by lender
3% (As low as) (fixed)
Compare multiple student loans and student loan refinancing options in one place.

Compare up to 4 providers

How much will it cost to borrow with First Republic Bank?

It depends on your loan type. Student loan refinancing doesn’t come with fees, while its personal loans require a $250 origination fee and $150 annual service fee. Business loans come with an origination fee equal to 0.5% to 1% of the loan amount, which is deducted from your funds before you receive them.

Thinking of enrolling in autopay? You’ll pay a $25 preauthorization fee each time you set it up or make a change. And if you don’t have enough funds in your account when your payment is due, you’ll pay a $30 penalty.

If you’re more than 10 days late on a business loan repayment, your business may need to pay a late fee equal to 10% of the amount due.

What do borrowers say about First Republic Bank?

First Republic Bank gets mixed online reviews — though there aren’t that many out there. It earns an A+ rating from the Better Business Bureau (BBB), which has accredited the bank since 2016. The one customer review on its BBB page is negative, however, and it has seven customer complaints filed against it.

It has no Trustpilot page, but Yelp appears the most common place for borrowers to drop First Republic reviews on specific branches. Its branches typically get ratings ranging from four and five stars, mostly based on fewer than 10 reviews. Complaints center on banking issues or misunderstandings over fees and rates for student loan refinancing or mortgages, with some customers accusing First Republic of misrepresenting the cost of their loans.

Overall, customers are impressed with the bank’s customer service. One business owner said she’d been working with First Republic Bank for 15 years, citing her customer service experience as a top reason. Several Yelpers also mentioned they’d moved from their previous bank to First Republic specifically for its customer service.

Are First Republic Bank loans safe?

Yes, generally. But no lender can guarantee that your information is 100% safe. Student loan refinancing is the only application you can partly complete online — all other loans require a phone call or a branch visit. First Republic protects the personal or financial information you submit online using industry-standard SSL security. It also offers all customers free access to Trusteer Rapport, online software designed to protect your information against financial malware.

First Republic takes steps to prevent identity theft and fraud by asking to see government-issued ID when you visit a branch and allowing only authorized personnel access to sensitive information when it’s necessary. It never sells your information to other companies, though it shares some of your nonsensitive personal information with affiliates — you can opt out of this. And it conducts regular reviews of its computer systems and other security features to make sure everything is current and correct.

How to apply for a loan with First Republic Bank

For most First Republic Bank loans, your application starts over the phone at 888-408-0288 or in person at your local branch.

Or request to have First Republic contact you by completing a quick online form:

  1. Go to First Republic Bank’s website.
  2. Click either Personal or Banking in the main navigation bar.
  3. Select the type of financing you’re looking for under Lending.
  4. To the right of the page, under Get Started Today, click Have Us Contact You.
  5. Complete the required fields with your contact information and availability.
  6. Click Send Contact Information.

To find your closest First Republic Bank branch, click Location at the top right of the page and enter your ZIP code, city or state.

Eligibility requirements

While each loan type comes with its own requirements, you’ll likely need to meet basic eligibility to borrow from First Republic Bank:

  • Good to excellent credit. Credit score cutoffs vary by loan type, but you often need a score of at least 700 or 750 to qualify.
  • Low debt-to-income ratio (DTI). First Republic doesn’t specify DTI cutoffs, but you could have trouble getting a loan if your DTI is above 43%. Generally, the lower the better.
  • First Republic Bank account. First Republic Bank requires all loan applicants to have a First Republic Bank account. You won’t qualify for the most competitive rates on a personal loan if you don’t sign up for automatic repayments from your First Republic checking account.
  • Local to a branch. All applications involve a visit to a branch, so just living in a state where it operates might not cut it.

Cities where First Republic Bank operates one or more branches:

More about First Republic Bank

Founded in 1985, First Republic Bank is a San Francisco–based bank and wealth management institution. It primarily serves wealthier customers — including Facebook Founder Mark Zuckerberg — and doesn’t have a great track record with lower-income or minority borrowers, according to The Wall Street Journal. In addition to loans, it offers personal and business banking services like checking accounts, IRAs and treasury services. You can also sign up for financial planning, endowment management and other wealth management services.

Bottom line

First Republic Bank is worth looking into if you have excellent credit, a low debt-to-income ratio and prioritize customer service. Its rates are highly competitive, and customer perks like freshly baked cookies make borrowing an overall more enjoyable experience. However, it’s not great for borrowing low-dollar amounts, and you may not qualify with a credit score that’s under 700.

Interested in learning about other options? Read one of our guides below to learn more and compare top lenders.

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