Home improvement loan

Thinking of improving or increasing the energy efficiency of your home?

Find the home improvement loan to suit you.

 
 

Why choose us for a home improvement loan?

Competitive rates

Variable rates from as little as 6.5% APR1 for works that improve the energy efficiency of your home and 7.1% APR for regular improvement works.

Tailored to you

Borrow between €2,000 and €75,000 and repay your loan weekly or monthly.

Choose your term

Repay your loan over 1 to 7 years.

Option to defer repayments2

Option to defer your first three monthly repayments if you repay your loan on a monthly basis.

Flexible repayments

Make extra repayments to pay off your variable rate loan early and pay less interest with no penalty fees.

Fast application

Online application takes just 15 minutes for existing current account holders registered for 365 online.


What do I need to apply?

To be eligible to apply online, you must be:

  • Aged 18 or over

  • Resident in the Republic of Ireland
  • An existing Bank of Ireland current account customer

To apply, you’ll need:

  • Your 365 online user ID – You can find it on your profile page within the mobile app.
  • Proof of your Personal Public Service Number (PPSN) – Full list of acceptable documents.

Please note: If you are a new customer you can call our loans team on 0818 200 334 (9am – 5pm, Monday – Friday) to apply. We may request additional documents depending on your individual circumstances and loan purpose. We request a credit report from the Central Credit Register when you apply for a loan of €500 or more. Lending criteria, terms and conditions apply.

 
Apply for a home improvement loan



What is a green home improvement loan?

A green home improvement loan is a low rate loan we offer to anyone planning to undertake works to improve the energy efficiency of their home. Works must include at least one of the following:

  • Renewable energy upgrade (like solar panels)
  • Attic/floor/wall/pipe insulation
  • Sustainable water/heating system
  • Boiler upgrade
  • Installation of energy efficient controls
  • Door/window replacement
  • Deep retrofit (as part of the SEAI Deep Retrofit grant)

If you’re applying for a green home improvement loan, you’ll also need:

Detailed quote/invoice from a builder/service provider


This should outline the work to be undertaken. It must be printed in colour on the builder’s/service provider’s branded stamped paper and dated within the past 6 months. The name of the builder/service provider and your full name and address (as it appears on 365 online), must also be clearly visible on the document.



What is the Home Energy Upgrade Loan Scheme?

The Home Energy Upgrade Loan Scheme has been established by Strategic Banking Corporation of Ireland (SBCI) to make energy efficiency upgrades more accessible and affordable for eligible homeowners.

The scheme offers a low variable rate green loan of 3% APR to people who are making energy efficiency and renewable energy upgrades to their homes and also receiving a grant from the Sustainable Energy Authority of Ireland (SEAI). The scheme aims to help homeowners make their homes warmer, cheaper to run, and help lower emissions.

Please note:
The scheme is established and offered by the SBCI and benefits from a guarantee that has been provided by the European Investment Fund (EIF) and European Investment Bank (EIB), and is supported by the Department of Environment, Climate and Communications (DECC). It is open up to 31 December 2026 or until the scheme has been fully subscribed (whichever is earlier).

The Home Energy Upgrade Loan Scheme must be repaid monthly.

Find out more


Interest rates and APR

These representative examples illustrate how much it could cost to borrow various amounts over 5 years.

Home loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €9,9998.65%8.9%€2,0005 years€41.12€467.20€2,467.20
€10,000 – €19,9998.1%8.3%€10,0005 years€202.98€2,178.80€12,178.80
€20,000 – €75,0006.9%7.1%€20,0005 years€394.71€3,682.60€23,682.60

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.

Green home loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €75,0006.3%6.5%€2,0005 years€38.91€334.60€2,334.60
€2,000 – €75,0006.3%6.5%€10,0005 years€194.57€1,674.20€11,674.20
€2,000 – €75,0006.3%6.5%€20,0005 years€389.15€3,349.00€23,349.00

Variable rates are correct as at 5 February 2025 and are subject to change.

Internal reference rates

We apply reference rates to all new loans. The reference rate is an internal rate we use to work out how much it will cost us to give you a loan. It includes the cost of funds to the bank and administration costs for the set-up and maintenance of the loan.

VI0.25%

Please note: Your credit agreement explains all the interest rate types we charge for your loan. Lending criteria, terms and conditions apply. Over 18s only.




Frequently asked questions


  • What is a home improvement loan?

    A home improvement loan is when an amount of money is given to you by a financial institution which you can use to improve, repair or extend your home. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

  • What is a green home improvement loan?

    A green home improvement loan is a lower rate loan we offer to anyone planning to undertake works to upgrade their home’s Building Energy Rating (BER).

  • Am I eligible for a green home improvement loan?

    If you’re planning to undetake any of the following works to upgrade your home’s Building Energy Rating (BER), you may be eligiible to apply for a green home improvement loan:

    • Renewable energy upgrade (for example, solar panels)
    • Attic/Floor/Wall insulation
    • Pipe insulation
    • Sustainable water/heating systems
    • Boiler upgrade
    • Installation of energy efficient controls in the home
    • Door/Window replacement
    • Deep retrofit (for example, as part of the SEAI Deep Retrofit grant)

    Proof of work will be required.

    Lending criteria, terms and conditions apply.

  • Can I apply for a green home improvement loan and SEAI grant?

    Yes. You can apply for a green home improvement loan if you are undertaking work to make your home more energy efficient. To find out what grants are also available to you, visit the Sustainable Energy Authority of Ireland (SEAI) website.

    Please note: Bank of Ireland is not responsible for the information on third party websites.


See our full loan FAQs

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

Contact us

Our loan teams are here to help.

Log in to 365 online, select Services and Send us a message.

Call us on 0818 200 334, 9am–5pm, Monday to Friday.

Tweet us @talktoBOI 8am–8pm. Response within 15 minutes.

Visit your nearest branch to arrange a meeting with a dedicated lending advisor.

1 APR stands for Annual Percentage Rate.
2 Deferred repayments: 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 start. Deferred repayments are available to Bank of Ireland current account customers only.