Republic Bank and Trust: 2020 Home Equity Review

Republic Bank and Trust

Republic Bank & Trust was founded in 1982 in Louisville, Kentucky, and now operates in five states: Indiana, Kentucky, Ohio and Tennessee. The bank offers various financial products and services, including home equity loans and home equity lines of credit, or HELOCs.

To get information on what’s available, however, you’ll need to reach out to the bank directly via phone, visit a local bank branch or apply online.

Lender snapshot

If you’re considering a home equity loan or HELOC from Republic Bank & Trust, you’ll have to do a little extra legwork to get enough information to compare other home equity lenders. Here are some highlights:

  • Offers both home equity loans and HELOCs
  • You can borrow up to 90 percent of your home’s value with a HELOC, with a maximum amount of $250,000
  • There’s an option to get no closing costs on the HELOC; information, however, is not publicly available for home equity loan closing costs
  • The lender doesn’t disclose any eligibility requirements publicly

Pros and cons

The more you know about a lender and its offerings, the easier it is to compare and determine whether it’s the right fit for you. Here are some benefits and drawbacks of Republic Bank to consider:


  • Competitive interest rates: The HELOC has a 12-month introductory fixed rate of 4.50 percent, then an ongoing variable rate as low as 5.25 percent. According to Bankrate, the average HELOC interest rate is 14 percent as of late September 2019.
  • Solid HELOC terms: You may not have to worry about closing costs with the bank’s HELOC, and you can borrow up to a loan-to-value ratio (LTV) of 90 percent. With a standard HELOC at other financial institutions, the maximum LTV is typically 80 percent.


  • Not a lot of information in publicly available: Republic Bank doesn’t provide any information publicly for its home equity loan, and eligibility requirements, loan terms and other features are missing online for the HELOC. When we reached out to bank representatives, we received no response. If you want to avoid having to call or visit a branch to get the full details, consider a different lender.
  • HELOC caveats: To qualify for a HELOC with no closing costs, you need to have a primary checking account with Republic Bank. What’s more, you need to keep the account active for the duration of your HELOC’s term. Otherwise, you’ll be charged a $500 fee. Also, there’s a $50 annual fee after the first year, and there may be a prepayment penalty.

Mortgage products

Republic Bank offers several mortgage products, including purchase and refinance loans, as well as home equity loans and HELOCs.

If you’re looking for a home equity loan, you’ll need to call the bank or visit a local branch. If you’re interested in a HELOC, you can borrow up to $250,000, although you’ll need to call to find out the minimum loan amount. There’s also an LTV limit of 90 percent.

The bank doesn’t disclose its repayment terms publicly for either product. However, if you have a HELOC, the minimum monthly payment is $50 or the amount of accrued interest, whichever is greater. If you just make the minimum payment, however, it may not be enough to pay down the balance, which can result in a balloon payment.

Lender costs

You may qualify for no closing costs on a HELOC if you have your primary checking account with the bank. If the account goes inactive or you close it during the HELOC’s repayment term, however, the bank will assess a $500 fee.

Republic Bank also charges a $50 annual fee on the HELOC after the first year, and there may be a prepayment penalty (but you’ll need to call to find out if that applies to you).

For interest rates, the HELOC has an introductory fixed rate of 4.50 percent for 12 months. After that, it’s an ongoing variable rate starting at 5.25 percent.

Borrower requirements

Republic Bank doesn’t share any borrower requirements publicly, so it’ll be tough to know whether you have a chance of getting approved unless you call or apply. The bank does state that there are geographic restrictions, so home equity products may be limited to its footprint of five states.

How to apply

To apply for a HELOC online, you’ll start by creating an account with Republic Bank & Trust with your email address and a password.

You’ll then need to provide information about yourself, including your name, phone number and address and marital status, as well as information about your property. You’ll also need to provide more in-depth information about your assets, income, the property and more.

If you get approved for a HELOC, you’ll receive a Republic Bank Equity Access Card to make using your line of credit more convenient.

Get started

If you’re considering a home equity loan or HELOC, shop around and compare options from several lenders. Several home equity lenders offer full transparency on their home equity loans and HELOCs online.

If you want a home equity loan or HELOC with Republic Bank because you already bank with the lender or you’re willing to take the extra time to gather information, start the process on its website.

If you have any questions during the application process, you can call and speak with a representative at 866-758-3970. Alternatively, you can email

How Bankrate rates Republic Bank and Trust

Overall Score 3.8
Availability 3.2
Affordability 4.3
Customer Experience 4.0

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.