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Republic Bank: 2022 Home Equity Review

Republic Bank and Trust
Courtesy of Republic Bank and Trust
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Republic Bank was founded in 1982 in Louisville, Kentucky, and now operates in five states: Florida, Indiana, Kentucky, Ohio and Tennessee. Newsweek rated Republic Bank one of America’s best banks for 2022, as well as the best bank in Kentucky. Republic Bank has $10 billion in assets and prides itself on investing in local communities and providing a positive customer experience. The bank offers various financial products and services, including home equity lines of credit, or HELOCs. The HELOC application process can be completed entirely online.
However, Republic Bank does not provide much specific information about its HELOC product online. To get information on what’s available, you’ll need to reach out to the bank directly via phone, visit a local bank branch or apply online.
Offerings may vary by ZIP code; the details presented below are based on the 40202 ZIP code.

Republic Bank snapshot

Loan types offered HELOC
APR range Starting at 3.50%
Loan amount range HELOC: Up to $500,000
Minimum credit score required Not specified
Repayment terms Not specified
Average time to approval Not specified


Some of Republic Bank’s biggest benefits are:

  • Competitive interest rates: The HELOC has an ongoing variable rate as low as 3.25 percent. According to Bankrate, the average HELOC interest rate is 3.88 percent as of September 2021.
  • Solid HELOC amounts: You can borrow up to $500,000 or a loan-to-value ratio (LTV) of 90 percent — a fairly standard amount for a HELOC.


Republic Bank does come with a number of drawbacks, including:

  • Not much publicly available information: 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. If you want to avoid having to call or visit a branch while shopping around, consider a different lender.
  • HELOC fees: Republic Bank charges a $50 annual fee after the first year, and there may be a prepayment penalty if you pay off your HELOC early.

Types of fees charged

You may qualify for no closing costs on a HELOC if you have your primary checking account with the bank. Republic Bank 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 starts at 3.25 percent APR. While this rate is variable, it will never rise beyond 18 percent.

Loan products offered

Republic Bank offers several mortgage products, including purchase and refinance loans, as well as 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 $500,000, although you’ll need to call to find out the minimum loan amount. There’s also a CLTV 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.

How to qualify for a home equity loan with Republic Bank

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; you’ll have to enter your ZIP code on the website to find out if its home equity products are available in your area.

How to get started

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

You’ll then need to provide information about yourself, including your name, phone number, 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, 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.

Before settling on Republic Bank, shop around and compare options from multiple lenders. Many 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, start the process on its website. You can also call and speak with a representative at 888-584-3600 or email Representatives are available Monday through Friday from 7 a.m. to 7 p.m. ET and Saturday through Sunday from 8 a.m. to 5 p.m. ET.

How Bankrate rates Republic Bank

Bankrate Score 3.8 Scoring factors
Availability 2.7 Low score for limited information to check eligibility
Affordability 4.3 Low minimum APR and few fees.
Customer experience 4.5 Online access, apps and 7-day customer support


To create our Bankrate Scores, we evaluated lenders based on availability, affordability and customer experience. Availability was assessed based on the minimum loan amount required, time to approval, days to close, minimum draw requirements, minimum credit score requirements and loan types offered. Affordability was assessed based on minimum APR, discounts and promotions offered and associated fees. Customer experience was assessed based on online application and account availability, customer support, auto payment availability and mobile app availability and ratings.

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.

Written by
Raija Haughn
Raija Haughn is an associate writer for specializing in personal and home equity loans. She is passionate about helping people make financial decisions that will benefit them long term.