Bank of Ireland
Take control of your finances with flexible personal loans between €2,000 and €75,000, competitive rates from 7.1% APR, and fast online applications.
Bank of Ireland offers personal loans designed for life’s biggest moments, from weddings to a dream holiday or making a major purchase. You can borrow between €2,000 and €75,000, with repayment terms ranging from 1 to 5 years.
Interest rates start as low as 7.1% APR, making this a competitive choice if you’re eligible. Graduates can benefit from rates starting as low as 5.0% APR on smaller amounts. Flexible repayment schedules and an entirely digital application process add further convenience.
Repayments can be made weekly or monthly to match your budget, and the approval process is fast. If you’re an existing Bank of Ireland current account customer and registered for 365 online, you can expect an online application process completed in about 15 minutes.
How to Apply: Step by Step
- Ensure you are 18 or over and a resident in the Republic of Ireland.
- Confirm you have a Bank of Ireland current account and are registered for 365 online.
- Gather your 365 online user ID and proof of your PPSN.
- If applying as a graduate, make sure you hold a graduate current account.
- Complete the application online, or call the loans team if you’re a new customer.
Main Advantages
The loan offers flexibility on both loan amounts and repayment periods, allowing you to suit the loan to your needs. With competitive APR rates, you could save compared to other lenders.
Additionally, there are no penalty fees for early repayment on variable rate loans, and no deposit or savings with Bank of Ireland required to qualify.
Potential Drawbacks
Only existing current account customers registered for Bank of Ireland 365 online can apply online, which limits accessibility for new customers.
Also, interest rates and eligibility are subject to approval and your personal financial circumstances, so some may not qualify for the lowest rates advertised.
Verdict
The Bank of Ireland Personal Loan is a strong option for those seeking flexibility, competitive rates, and a speedy online application. Especially for current customers, the process is straightforward and efficient. However, it is less accessible for new customers and rates depend on your credit and circumstances, so check terms carefully before applying.