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Which bank you choose to refinance or consolidate your student loan makes a difference. To get the best deal possible, you must consider your options. Don’t just go to the bank you have a checking account with or accept the first offer you find. Shopping around for the best bank to refinance and consolidate student loans will allow you to receive the lowest monthly payment and/or the lowest interest rate. Here is a list of the top six banks for student loan refinancing and consolidation:

1. Darien Rowayton Bank

On average, students save $20,200 by refinancing their loans with Darien Rowayton Bank. You can refinance up to 100% of private and federal loans. The interest rates on Darien Rowayton Bank’s refinanced and consolidated loans are low, ranging from 4.25%-7.20% for fixed rates and 3.64%-6.29% for variable rates. DRB doesn’t charge origination fees or prepayment penalties. Parents who took out student loans on behalf of their children are allowed to refinance and consolidate them at this bank as well. If you set up automatic payments on your loan, the bank will decrease the interest rate by 0.25%.

2. Citizens Bank

Citizens Bank offers an Education Refinance Loan for refinancing and consolidation on private and federal student loans. They provide loans with interest rates as low as 2.37% APR for variable rates and as low as 4.74% on fixed rates. Customers who take out an Education Refinance Loan at Citizens Bank save $1,644 per year on average. The bank offers two possible interest rate discounts: loyalty and automatic payment. You’ll receive a loyalty discount of 0.25% off of your interest rate if you have a qualifying account with Citizens Bank at the time of applying for the loan. An automatic payment discount subtracts 0.25% off of your interest rate if you set up automatic monthly payments on your loan. Citizens Bank doesn’t charge origination, disbursement, or application fees.

3. Wells Fargo

Student loan refinancing and consolidation at Wells Fargo has a 3.99%-8.99% variable interest rate and 6.24%-10.99% fixed interest rate. Wells Fargo doesn’t charge origination or application fees. The bank also doesn’t give out prepayment penalties. Similar to Citizens Bank, they will reduce your new loan’s interest rate by 0.25% if you enroll in automatic payments or if you have a qualifying Wells Fargo account. Students who have borrowed money for education from Wells Fargo in the past also qualify for a 0.25% interest rate discount.

4. Alliant Credit Union

Another great bank for student loan refinancing and consolidation is Alliant Credit Union. You can consolidate up to $100,000 in student loans at this bank. Variable interest rates run as low as 3.75% and repayment terms are as long as 25 years. Alliant Credit Union doesn’t deal out prepayment penalties, allowing you to make early payments when you can. This bank provides consolidation for both private and government loans.

5. First Republic

First Republic Bank offers student loan refinancing with interest rates as low as 2.25% APR. They don’t charge annual, origination, or prepayment fees. First Republic Bank actually offers an incentive for prepayment. If you pay off the original loan balance within 48 months, you’ll receive up to 2% of the interest back. The bank offers both variable and fixed interest rates on refinanced student loans. Customers who open a First Republic ATM Rebate Checking account with automatic loan payments will qualify for lower interest rates.

6. iHelp

At iHelp, you can find student loans from community banks. IHelp’s student loan consolidation program allows clients who obtained a loan with a cosigner to release their cosigner after 24 months of on-time payments. They also have both variable and fixed interest rates. Student loan consolidation from iHelp ranges from $10,000-$250,000. A fixed 10 year interest rate on an iHelp consolidation loan for student debt is 2.5%-9%.

If you want to receive a student loan refinancing or consolidation from a bank that has fair terms, then the six companies listed above are your best options. As always, take your unique situation into consideration as you choose a bank to obtain a refinancing or consolidation from. One loan may be ideal for another student but not you and vice versa. In general, the six companies listed above are excellent choices in student loan refinancing and consolidation.