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 18 years of age or over and live in the Republic of Ireland.

We have other requirements you need to meet. This will depend on the type of loan you want to apply for. See our loan product pages for a list of specific eligibility criteria.

Lending criteria, terms and conditions apply.

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.

You can apply online if you have a Bank of Ireland current account, are registered on 365 online and applying in your own name. click here to fill in our online application form. It takes just 15 minutes.

Joint applications and new customers can apply for a loan by calling our loans team on 0818 200 334 9am to 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 ask you for additional documents depending on your individual circumstances and the purpose of the loan.

There is an ‘Upload your documents’ section in the online application where you will be asked to upload any required documents. We will contact you if we need any more information.

If you are having difficulty applying for a loan online, call our loans team on 0818 200 334. They are 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 branch.

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.

There are no charges for repaying your variable rate loan early.

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.

This will reduce:

• the term of the loan
• the amount of interest you repay over the full term of the loan

This will NOT affect the amount you repay each month.

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. This may affect your credit report. It might also affect your ability to borrow in the future from Bank of Ireland or other financial institutions.

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.

If you miss a repayment on your loan, we will continue to charge you interest at the rate that applies to the loan on the instalment or other money that is overdue.

Call our dedicated team on 0818 210 625. They will 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.

When we have approved your online loan application, we will email you your credit agreement and other documents through a secure platform called DocuSign.
Through DocuSign, you must read, 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 want to change anything about your existing loan, please contact our dedicated lending team on 0818 200 334.

Our advisors can help you from 9am – 5pm, Monday to Friday (excluding bank holidays). If you wish to change the date you pay back your loan, please 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.