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 10 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

If you are a current account holder registered for 365 online, you can make an online application in just 15 minutes.


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.

Where to apply:

You can apply online in your own name. Joint applicants and new customers can apply for a loan by calling our loans team on 0818 200 334 9am to 5pm, Monday to Friday.

Please note: We may need to ask you for more documents based on your situation and reason for the loan. If you apply for a loan of €500 or more, we will ask the Central Credit Register for a report to check your credit history.

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
  • Heat pump installation
  • Heat controls upgrades
  • Boiler upgrade
  • Installation of energy efficient controls
  • Door/window replacement
  • Deep retrofit (as part of the SEAI Deep Retrofit grant)

Please note: The green home improvement loan cannot be used for fossil fuel heating systems.

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 was set up by the Strategic Banking Corporation of Ireland (SBCI).

It was set up to help homeowners to make their homes warmer, cheaper to run, and help lower emissions. The scheme makes it easier and more affordable to improve your home’s energy use.

How it works

You can get a low-interest green loan at 3% APR. This loan is for people who are:

  • Making their homes more efficient.
  • Adding renewable energy systems.
  • Getting a grant from the Sustainable Energy Authority of Ireland (SEAI).

The scheme has a guarantee that has been provided by the European Investment Fund (EIF) and European Investment Bank (EIB). It is supported by the Department of Climate, Energy and the Environment (DCEE).

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 paid back 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 of 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 of 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.





Review your home insurance cover

If you upgrade your home, you may need to review your home insurance cover or you could be at risk of being under-insured.

Find out more


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

    • Renewable energy upgrade (for example, solar panels)
    • Attic/floor/wall/pipe insulation
    • Heat pump installation
    • Heat controls upgrades
    • 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)

    Please note: The green home improvement loan can not be used for fossil fuel heating systems

    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 report, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Warning: Borrowing money costs money.

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.

Message 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 If you defer your first three loan repayments at the start of your loan that will add to the interest you will have to pay over the life of the loan. You can’t defer your first three loan repayments unless you have a current account with Bank of Ireland.