Student Loan

The Student loan is available throughout the year to fund expenses such as travel, living expenses and general back to college expenses.

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Features & Benefits

  • Get a competitive variable rate of 5.0% APR1

  • Borrow up to €5,000

  • Choose to repay your loan over 1 to 5 years

  • Option to defer first three monthly repayments (optional, only if your loan is repaid monthly)2

  • There are no penalties if you ever decide to make an extra repayment.

  • No set up fees

 

Eligibility and Important Information

  • Open to existing Bank of Ireland customers only with a 3rd level Student Personal Current Account with Bank of Ireland and should be undertaking a full time course in a recognised 3rd level college in the Republic of Ireland
  • The Student loan is available throughout the year to fund expenses such as travel, living expenses and general back to college expenses
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Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Warning: The cost of your monthly repayments may increase.
1

APR stands for Annual Percentage Rate. Lending criteria, terms and conditions apply. Applicants must be 18 years or over. Applicants must be resident in the Republic of Ireland.
The repayments on a student loan of €5,000 over a 60 month period are €94.20 per month at 4.95% variable (Annual Percentage Rate of Charge (APRC) 5.0%). Total amount repayable is €5,652.00. Total cost of credit is €652.00. Variable rates correct as at the 30th June 2022 and is subject to change.
2

By deferring your repayments at the start of your agreement you will pay more interest over the loan term than if you started to make repayments from the outset.