Loans

A loan is when an amount of money is given to you by a financial institution. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

A variable rate loan will have an interest rate which may increase or decrease following changes in the market.

A fixed rate loan will have the same interest rate for the lifetime of the loan, regardless of what increases or decreases happen in the market.

At Bank of Ireland we offer:

• Personal loans
• Car loans
• Green car loans
• Home improvement loans
• Green home improvement loans
• Home Energy Upgrade Loan Scheme
• Top-up loans
• Student loans

To be eligible for a Bank of Ireland loan, you must be aged 18 or over and live in the Republic of Ireland. Other eligibility criteria may apply depending on the type of loan you want to apply for. See our loan product pages for specific eligiblity criteria.

You don’t need to save with us or have a guarantor to borrow with us. If you can show that you’re able to make the repayments, we’ll organise a loan to suit your needs.

If you have a Bank of Ireland current account and you’re registered on 365 online, click here to fill in our online application form. It takes just 15 minutes.

Alternatively, you can call us on 0818 200 334 (9am – 5pm, Monday to Friday) or visit your local branch.

• Your 365 online user ID (if applying online)
• Proof of your Personal Public Service Number (PPSN). Full list of acceptable documents.

Please note: We may request additional documents depending on your individual circumstances and loan purpose. For example, if you’re a foreign national you may need to provide your Irish Residence Permit (IRP) card.

There is an ‘Upload your documents’ section within the online application where you’ll be asked to upload any required documents. We will contact you if any additional information is required.

Call our loans team on 0818 200 334. They’re available 9am – 5pm, Monday to Friday (excluding bank holidays). They will guide you through your application. Alternatively, you can make an appointment to meet a member of our loans team in person in your nearest Bank of Ireland bank.

The interest rate of your loan depends on a number of factors:

• The type of loan
• The amount you wish to borrow

For an example of how much it could cost you to borrow various amounts over 5 years, see the ‘Interest rates and APR’ section of our individual loan pages.

The term of your loan is the length of time in which you agree to repay your loan. It depends on

• the type of loan you choose
• the amount you borrow
• how much you’re comfortable repaying each week/month

Use our loan calculator to get an idea of what your repayments might be.

Your loan is repaid by standing order on a weekly/monthly basis on a date you select during the application process.

To set up your standing order, we will send you a standing order mandate form to complete. You’ll receive this form with your loan agreement (Consumer Credit Agreement) documents.

If you have a variable rate loan, there are no charges for repaying your loan early.

If you have a fixed rate loan, you may have to pay charges if you repay your loan early.

The type of loan you have, or intend to draw down, will be shown on your loan agreement.

If you wish to make additional repayments you can transfer funds into your loan account on your 365 online profile. You may also add your loan account as a payee.

If you’re making a decision to pay back your current loan completely, please contact our lending advisers who will give you the final balance as this may differ slightly from what is showing on 365 online or your loan statement. Call them on 0818 200 334, 9am – 5pm, Monday to Friday (excluding bank holidays) or visit your local branch.

If you miss a repayment on your loan, your account will go into arrears and this may affect your credit rating. This may affect your ability to borrow in the future from Bank of Ireland or other financial institution.

If you have any difficulty in making the required repayments on your loan, please contact us to let us know. The earlier we know about any difficulties you may be having, the sooner we can work together to quickly identify the best solution to get you back in control of your finances.

Call our dedicated team on 0818 210 625. They’ll talk to you about your finances and may be able to help you change your loan repayments or create a plan to assist you during tough financial times. Our advisors are available to help, 9am – 5pm, Monday to Friday.

Once your online loan application is approved, you will receive your credit agreement documents by email through DocuSign – a secure electronic signature and transaction management platform.

You must complete, sign and return these documents.

Once received, the bank will draw down the funds and they will be available to you within 24-48 hours.

Please note: Top-up loans will take an additional 24 hours.

Yes. We’re happy to discuss your lending requirements.

Existing loans

If you wish to restructure your existing loan, you should contact our dedicated lending team on 0818 200 334. Our advisors are available to help 9am – 5pm, Monday to Friday (excluding bank holidays).

If you wish to reschedule payments on an existing loan (for example, change the repayment date), call 0818 200 334.

New loans

You have the option to defer your first repayment by 3 months (paying nothing for the first 90 days)². Remember, deferred payments:

• are spread over the term of the loan,
• must be applied for and agreed by us prior to drawdown
• result in an increase to the cost of credit on your loan.