Home Improvement Loan

for Dreams big or small

Improve, repair or extend your home
with our Home Improvement Loan

Government Tax Incentive Scheme

A personal loan option is available for home improvement works under this scheme. At least part of the works undertaken must qualify for the tax credit under the Home Renovation Tax Incentive Scheme.

Under the Home Renovation Tax Incentive Scheme (HRTIS), people carrying out qualifying renovation works will be granted income tax relief on the cost of the works. The scheme applies to renovations or improvements.

If you want to benefit from the Government’s Home Improvement tax incentive scheme, it is your responsibility to make sure the money you spend on works carried out will be covered by the scheme. We strongly recommend you get independent tax advice on that point before you commit to a building contract.

Further information relating to the Government Scheme is available on the Revenue.ie website

Bank of Ireland cannot take responsibility for information on third party websites.

Features & Benefits

  • You can borrow from €5,000 to €30,000
  • Competitive variable rates from as little as 6.8% APR*
  • Choose to repay over 1 to 10 years
  • Defer your first three monthly repayments (optional, only if your loan is repaid monthly). By deferring the first three monthly repayments customers will pay more than if they paid over the standard term.
  • Money paid directly to your account
  • *APR stands for Annual Percentage Rate.

    Rate offered depends on loan amount and may differ from advertised rate. Lending criteria terms and conditions apply. Over 18s only and not suitable for students. Only Bank of Ireland customers can apply online.

    The repayments on a personal loan of €20,000 over 5 years are €391.92 per month based on a variable rate of 6.8% APR The total cost of credit is €3,515.20.

    Variable rates are correct as at 18th October 2017 and are subject to change.

    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 IN THE FUTURE.

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