First Republic Bank Review

Chris

In a Nutshell

First Republic Bank offers unsecured personal loans and personal lines of credit with fixed and variable interest rates. Founded in 1989, this lender provides banking and loan services around the United States. First Republic Bank offers larger personal loans than most other banks—loans that allow borrowers to cover student loans, car payments, home payments, and other expenses. This lender has an A+ rating from the Better Business Bureau.

pros

  • High loan amounts
  • Low fees
  • Variable interest rates

cons

  • Borrowers need liquid assets
  • Can’t apply online

First Republic Bank First Republic Bank Visit Site

First Republic Bank at a Glance

Direct lender or marketplace?
Direct lender
Loan types
Unsecured, fixed, variable, personal line of credit
Loan amount
$60,000-$350,000
Repayment terms
7, 10, or 15 years
APR
2.25% - 3.50%
Best for
Those seeking loans with low rates and no fees


Best For?

If you want a personal loan without the typically high interest rates, First Republic Bank gives you several options. These loans come with low interest rates and no additional fees. With a personal line of credit, you can take advantage of low APRs and interest-only payments for the first two years, along with other advantages that you will not find with a regular loan.

Range of Loans on Offer

All of First Republic’s loans are unsecured. You can choose from two types of personal loans: the Eagle Gold loan and the personal line of credit.

Eagle Gold Loan

  • Loans from $60,000 to $250,000
  • Variable interest rates based on the Wall Street Journal Prime Rate and your deposit rate
  • Approval based on your credit, net worth, liquid assets, and debt-to-income ratio
  • Requirement of a 40% or lower debt-to-income ratio

Personal Line of Credit

  • Loans from $60,000 to $350,000
  • Industry-low fixed-rate interest
  • Ability to refinance your existing debt
  • Interest-only payments for your first two years
  • Revolving credit access
  • No origination, maintenance, or prepayment loan fees
  • Access to a personal banker 

Application Process & Requirements

To meet the minimum qualifications for a personal loan with First Republic Bank, you must be at least 18 years old and have:

  • A First Republic Bank account
  • A credit score of at least 750
  • A debt-to-income ratio of 40% or less
  • Liquid assets equal to or greater than your loan amount

If you qualify for a loan, you can apply in one of three ways, each of which involves speaking directly to a First Republic Bank representative. You can call or visit a bank location to talk to a lender, or you can request that someone contact you by following these steps:

  1. Visit the First Republic Bank website
  2. Scroll to the bottom of the page and select “Have Us Contact You”
  3. Complete the required form, and submit your request 

First Republic Bank does not have an online application.

APRs, Loan Amounts, & Repayment Terms

First Republic’s APRs, loan amounts, and repayment terms vary based on whether you take out an Eagle Gold personal loan or a personal line of credit.

Eagle Gold Personal Loan

  • 5.99% - 35.89% APR that depends on the WSJ Prime Rate
  • $60,000 to $250,000 loan amounts
  • 2- to 7-year repayment terms

Personal Line of Credit

  • 2.25% - 3.5% APR
  • $60,000 to $350,000 loan amounts
  • 7-, 10-, or 15-year repayment terms

Privacy & Security

First Republic Bank uses information like your credit score to determine your loan amount and other qualifications. However, it does not share your personally identifiable information (PII) with anyone.

According to the lender, it complies with security measures dictated by federal law, including computer safeguards, secured files, and building security. Its employees acknowledge their responsibility to maintain customer confidentiality, and the bank periodically reviews facility security systems to ensure that it continues to protect your information.

Help & Support

First Republic Bank’s Customer Care Center is available to answer questions from 5:00 a.m. to 9:00 p.m. from Monday through Friday. Representatives are also available from 6:00 a.m. to 8:00 p.m. on Saturdays and 7:00 a.m. to 5:00 p.m. on Sundays.

You can reach the Customer Care Center at:

  • Phone: 888-408-0288
  • Email: info@firstrepublic.com

 

You can use the “Have Us Contact You” option on the website if you want to talk about applying for a loan, or you may send feedback on their contact page.

How First Republic Personal Loans Compare

APR
2.25% - 3.50%
18.00% - 35.99%
3.49%-35.99%
Minimum credit score
750
None
680
Loan amounts
$60k - $250k
$1,500 - $20,000
$1,000 - $100,000
Loan term
2-7 years
24-60 months
24-84 months
Best for
Borrowing with low or no fees
Reliable lending services
Comparing lender rates

FAQs

How can I repay my personal loan from First Republic Bank?

You can make payments online or with First Republic’s mobile app.

How many locations does First Republic Bank have?

First Republic Bank has 80 locations across the United States in California, Florida, Massachusetts, New York, and Wyoming. You can use its store locator to find the one closest to you.

Why do I need liquid assets to apply for a First Republic loan?

Unsecured loans mean that if you default on your loan, the bank takes the loss. Having liquid assets equal in value to your loan amount means that you can pay back your loan even if you don’t have the money in your account. 

How are personal loans and personal lines of credit different?

Personal loans offer a lump sum at origination that you pay back through fixed monthly payments over one to five years. Personal lines of credit let you draw on your loan multiple times, enabling you to take out only the amount of money you need at any given time instead of the entire amount of the credit line. Personal lines of credit often offer longer repayment terms and higher approved loan amounts.

First Republic Bank First Republic Bank Visit Site

Summary

First Republic Bank allows you to take out a personal loan with its Eagle Gold Loan or opt for a personal line of credit with low APR and no additional fees. No matter which way you borrow, First Republic approves much more than many other banks for personal loans—and at reasonable rates. First Republic’s loans work well for people who have excellent credit and the necessary assets to cover collateral for larger loans.

Physical Address

111 Pine St

San Francisco, CA 94111


Chris has an MBA with a focus in advanced investments and has been writing about all things personal finance since 2015. He’s also built and ran a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016.

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