Bank of Ireland
Personal loans from €2,000 to €75,000, rates from 7.1% APR. Flexible terms, online application in minutes, no need to have savings with BOI.
About the Bank of Ireland Personal Loan
The Bank of Ireland personal loan is designed to provide flexible financing for life events or large purchases. Borrow from €2,000 to €75,000 at rates as low as 7.1% APR, with repayment options from 1 to 5 years. For graduates with a BOI graduate account, the rate can be even lower, starting from 5.0% APR for loans up to €5,000. No security is required, and existing BOI current account holders can apply online in about 15 minutes.
How to Apply: Step by Step
First, make sure you’re at least 18, a resident of the Republic of Ireland, and a BOI current account holder. Gather your 365 online user ID and proof of PPSN. For graduate loans, you’ll also need a BOI graduate current account. Apply online as an individual, or call the loans team if you’re a new or joint applicant.
Main Benefits of the Bank of Ireland Personal Loan
One of the biggest advantages is competitive interest rates, especially if you’re a recent graduate. Repayment flexibility stands out too, as you can choose weekly or monthly terms, make extra payments with no penalty, and even defer the first three payments. Finally, you don’t need savings with BOI to qualify.
Potential Drawbacks to Consider
To apply online, you must hold an existing BOI current account and be a resident of Ireland. The loan is also subject to credit checks and lending criteria, so approval isn’t guaranteed. Deferring payments adds overall interest to your loan.
Our Verdict
The Bank of Ireland personal loan is an excellent choice if you are already a BOI customer seeking a quick, flexible, and transparent option. With fair rates, flexible terms, and no savings required, it is especially attractive for graduates or those making larger purchases. However, non-customers will need to either open an account or explore other lenders.