Bank of Ireland
Personal loans from €2,000–€75,000, with APRs from 7.1% to 8.9%. Flexible repayment terms and fast approvals make this loan a great choice for Irish residents.
The Bank of Ireland Personal Loan stands out as one of the top choices for those looking to finance life’s important purchases, whether that’s a wedding, new car, or big holiday. Borrowers can apply for amounts between €2,000 and €75,000, with flexible repayment terms ranging from 1 to 5 years. The interest rates are competitive, starting at 7.1% APR for larger loans and 8.9% APR for smaller ones. Existing Bank of Ireland customers registered for 365 online can apply and receive a decision in as little as 15 minutes.
Applicants must be 18 years old or over, live in the Republic of Ireland, and hold a Bank of Ireland current account. Additional documents such as proof of PPSN and, in the case of graduate loans, a graduate current account are required. The interest you’ll be offered depends on your personal financial profile, so you may see some variation based on the loan amount and your circumstances.
How to Apply
- Log in to your 365 online account (you’ll need your user ID).
- Complete the online application, which typically takes around 15 minutes.
- Prepare proof of your PPSN and supporting documents if needed.
- Submit your application and await a decision, often within 24 hours.
Main Advantages
Competitive rates from 7.1% to 8.9% APR make this loan attractive for a variety of needs, with higher sums eligible for lower rates.
Flexibility is another key benefit: you can choose your repayment plan, pay off your variable rate loan early without penalty, and defer the first three monthly payments if needed.
Main Disadvantages
The loan is only available to existing Bank of Ireland current account holders, so new customers must open an account or apply over the phone.
Interest rates for smaller loan amounts are on the higher side compared to large loans, which may not be ideal for everyone.
Verdict
The Bank of Ireland Personal Loan is a strong option for borrowers needing flexibility, larger loan sizes, and fair rates, especially for those already banking with BOI. It’s a particularly convenient choice if you’re after a smooth online process and don’t want penalty fees for early repayment.