Frequently asked questions

Got personal loan questions? You found the right place! Breeze through some of these most popular questions and answers and we hope that they will provide you with the help you are searching for. Of course, if you should need more help, please contact or call us. Our friendly finance professionals will be happy to help you.

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We have answers.

If you have additional questions, be sure to Contact us. We’ll return with an answer as soon as possible.
What is a personal loan?

A personal loan is an installment loan with a fixed interest rate that is repaid in equal monthly payments.

How do personal loans work?

Personal loans with Citizens Financial Services are simple and straight forward. You apply for a loan and when you're approved, you receive the cash in one lump sum. You pay the money back in monthly installments over a specified time.

How do I make my loan payments to you?

We have four easy ways that you can make your loan payments on time. (1) Call 318-324-0011 and pay by phone, (2) Pay online here on our website, (3) Pay inside our Monroe office on Roselawn Ave., or, (4) Mail your payment to our Monroe office before the payment is due.

How much is my interest rate?

The interest rate on your personal loan is determined by several factors: your monthly income, your job history, your debt-to-income ratio and your previous record for paying other loans back. The interest rate is personal to you.

How long will my personal loan term be?

Personal loan terms with Citizens Financial Services range anywhere from 12 to 36 months, depending upon the loan amount.

Can I pay my Citizens Financial personal loan off early?

Yes, you can. There are no fees or penalties for paying off your loan early. In fact, the sooner you pay off your loan, the more you will save in interest.

Can I consolidate other loans into my new loan?

Yes, you can. But make sure that you're not just swapping one loan payment for another loan payment. Think about moving high interest credit card debt into a personal loan from Citizens Financial Services instead. That could end up saving you money over the long term.

How much can I apply for?

You may apply for a personal loan amount from $500 to $11,000. Our loan officers will review your application information and work with you to establish a loan repayment schedule that actually works with your job and cashflow situation.

Do I need collateral to apply for a personal loan?

Yes. You do need collateral to apply for a personal loan with Citizens Financial Services. The type of collateral you put up depends on the amount of the loan. Collateral can range anywhere from personal property such as TVs, laptops or auto titles for larger loans.

How soon do I get my money once my loan is approved?

Immediately! Once your loan application is approved with Citizens Financial Services, we get your cash to you quickly in one lump sum. Since all of our loan decisions are made locally, we don't have any "red tape" or out of town layers to interfere with loan decisions.

If I have less than perfect credit, can I get a loan?

The answer is yes, but you still have to meet the other loan qualifications. We still need your job history and your income verification on your loan application.