Refinance with First Republic Bank and receive $200 cash!
If you live in one of marked locations above (New York City, Greenwich CT, Portland OR, Boston, Palm Beach, Northern or Southern California) AND you have high interest student loans – keep reading. You may be eligible for the lowest rates in student loan refinancing.
First Republic Bank offers fixed rate student loan refinancing in 5, 7, 10, and 15 year terms – I snagged 2.25% in early 2017.
These are currently the lowest rates you will find for student loan refinancing. Last year they offered 1.95% for the 5 year term!
OK, so what’s the catch?
- You must live near a physical branch.
- You must meet their salary requirements and may need a certain % of your debt liquid in your main checking account.
- You must open a checking account with them and use it as your main checking (your main source of income must be direct deposited there). You must maintain a minimum balance of $3,500 a month and you must auto-debit the loan payment from this account.
- This becomes a private loan and will not be forgiven at death or total disability like federal loans. IMO, this is not a concern – I mean, are you really planning on dying before your loans are paid off? If this truly worries you, make sure you have enough term life insurance to cover this. I do.
- You must pass a credit check.
Other things to keep in mind:
- The minimum loan is $40,000 and the maximum is $300,000.
- Their checking account refunds ATM fees!
- If you pay back the loan within 2 years, they will refund you up to 2% of paid interest!
- If you get approved for this loan but move away from a physical branch, this does not affect the loan as long as you keep your primary checking account with them.
This is an amazing deal if you meet their requirements. If you’re ready to take the plunge, contact Kerry Berchtold at firstname.lastname@example.org at 339-235-0419.
Don’t forget to mention Miss Bonnie MD to get your $200 once you’re approved!
I just was approved in March 2017 for refinancing my loans with FRB. I chose the 5 year term at 2.25% fixed for $88,000 of my loans. I did this mainly to “force” myself into a 5 year repayment. I do my best financially when things are automated.