Amigo Loans Ireland
Borrow €1,000–€5,000 with a guarantor, 49.9% APR fixed, fast decisions, no upfront or late fees. Perfect for those with low credit.
Amigo Loans Ireland offers a practical solution for those needing quick cash but struggling to get approval from banks or credit unions due to a low credit score or limited history. You can borrow between €1,000 and €5,000 with a guarantor, on terms from 12 to 36 months. The representative APR is 49.9%, fixed for the life of the loan. There are no fees for early repayment, late payment, or application, making it one of the more straightforward high-cost credit products in Ireland.
Step by Step: How to Apply
- Check your eligibility for a guarantor loan, ensuring you have a friend or family member willing to guarantee your payments.
- Complete the online application form, providing your personal and financial details.
- Your guarantor will also need to submit their details and undergo checks.
- Following approval, agree to the loan terms and sign electronically.
- Once all is in order, your loan will be paid out directly to you or your guarantor.
Pros: Where Amigo Loans Stands Out
One notable advantage is the acceptance of applicants with a bad credit score, provided you have a suitable guarantor. This can open the door to credit for many previously declined elsewhere.
Another plus is the quick application process, which takes place online. The absence of additional fees makes repayment more predictable and transparent.
Cons: Points to Consider
The biggest drawback is the high interest rate at 49.9% APR, making it essential to budget for repayments. This is standard for high-cost credit but worth considering.
Additionally, you will need a guarantor who meets the provider’s criteria, which may not be easy for everyone to arrange.
Our Verdict
For those unable to access traditional credit due to a low score or recent setbacks, Amigo Loans Ireland provides a genuine second chance. As long as you have a willing guarantor and a clear repayment plan, this loan can bridge financial gaps while giving you an opportunity to rebuild your credit history.