Personal Loans

(Updated March 21, 2010)

What is happening to this product?

TD Canada Trust lending products were successfully converted to TD Canada Trust systems over the weekend. Thank you for your patience. For more details, please refer to TD Canada Trust’s letter, dated January 8, 2010.

The majority of Citizens Bank’s personal loans have been sold to The Toronto-Dominion bank (TD Canada Trust) as of August 5, 2009.

No new applications will be accepted.

Personal loans sold to TD Canada Trust
From this day forward, you will be able to access your lending accounts by contacting you TD Canada Trust home branch identified in your January 8th conversion letter or by calling TD Canada Trust at 1-866-222-3456. However, for account history and payments prior to March 22, 2010, we encourage you to download your account history from Citizens Bank's online banking system or contact Citizens Bank's Member Services Centre at 1.888.708.7800.

Please note for your mortgage and loans payments debited from another financial institution, these payments will continue without interruption.

Personal loans remaining with Citizens Bank
Your personal loan will remain with Citizens Bank until it reaches maturity. At that time, all outstanding balances must be paid in full as no new applications or renewals will be accepted.

Actions you must take

Personal loans sold to TD Canada Trust
From this day forward, you will be able to access your lending accounts by contacting you TD Canada Trust home branch identified in your January 8th conversion letter or by calling TD Canada Trust at 1-866-222-3456. However, for account history and payments prior to March 22, 2010, we encourage you to download your account history from Citizens Bank's online banking system or contact Citizens Bank's Member Services Centre at 1.888.708.7800.

Personal loans remaining with Citizens Bank
You can apply for a similar product at an alternate financial institution and use this new product to pay off the balance of your Citizens Bank loan(s). Alternatively, you can wait until your loan(s) reaches maturity, at which point any outstanding balance will need to be paid in full. There are no penalties if you wish to pay out the balance prior to maturity.

How do I know if one (or more) of my personal loans was sold to TD?

You will have received a statement in late August, 2009 for those product(s) that are transferring to TD Canada Trust.

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