Personal loan

Upcoming wedding, holiday or big purchase?

Get a loan tailored to you.

 
 

Why choose us for a personal loan?

Competitive rates

Variable rates from as little as 6.8% to 8.5% APR1. Get a lower rate from 5.0% APR2 if you’re a graduate borrowing up to €5,000.

Option to defer repayments3

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

Fast application

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

Tailored to you

Borrow between €2,000 and €65,000 and repay your loan weekly or monthly over 1 to 5 years.

Flexible repayments

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

No savings required

You do not need to save with us to borrow from us.


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 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.
  • Graduate current account – If you’re applying for a graduate loan you must have a Bank of Ireland graduate current account.

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 personal loan



What is a personal loan?

A personal loan is a simple way for you to borrow money for any personal expenses, like weddings, a once-in-a-lifetime holiday or a large purchase.


With our personal loans, you receive a lump sum amount (between €2,000 to €65,000), then repay it plus interest over a fixed term (1 to 5 years) through regular monthly or weekly instalments – whichever suits your needs.

Our personal loans do not require security for you to apply. Instead, we rely on your creditworthiness to decide if you qualify for a loan.


Interest rates and APR

This table illustrates how much it could cost to borrow various amounts over 5 years.

Personal loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €9,9998.25%8.5%€8,0005 years€163.00€1,780.00€9,780.00
€10,000 – €19,9997.3%7.5%€15,0005 years€298.86€2,931.60€17,931.60
€20,000 – €39,9996.6%6.8%€20,0005 years€391.92€3,515.20€23,515.20
€40,000 – €65,0006.6%6.8%€40,0005 years€783.84€7,030.40€47,030.40

Variable rates are correct as at 25 June 2024 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.

VE7.00%
VI0.25%

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

Graduate loan

Loan amountVariable interest rateAPR(Annual Percentage Rate)Sample loan amountLoan termMonthly repaymentCost of creditTotal repayment
€2,000 – €5,0004.95%5.0%€2,0005 years€37.67€260.20€2,260.20
€5,001 – €9,9998.25%8.5%€8,0005 years€163.00€1,780.00€9,780.00
€10,000 – €19,9997.3%7.5%€15,0005 years€298.86€2,931.60€17,931.60
€20,000 – €39,9996.6%6.8%€20,0005 years€391.92€3,515.20€23,515.20
€40,000 – €65,0006.6%6.8%€40,0005 years€783.84€7,030.40€47,030.40

Variable rates are correct as at 25 June 2024 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.

Frequently asked questions


  • How much can I borrow?

    Use our loan calculator to tell us how much you want to borrow and for how long, and we’ll work out your loan repayments.

  • How much will my loan repayments be?

    This will depend on:

    • the amount of the loan
    • the length of time in which you agree to repay your loan (loan term)

      • Use our loan calculator to get an idea of what your repayments might be.

  • What happens after I submit my application?

    Your loan application will be processed by our lending team. You will receive an update on your application within 24 hours. If they require more information, our lending team will contact you directly by phone or email.

  • How long do I have to drawdown a loan?

    Once a loan is approved you have 30 days to draw it down. After this time, a new application needs to be submitted.

  • How much are loan fees and charges?

    There are no arrangement fees, deposits, or “balloon” repayments associated with our loans.

    There may be a charge if you pay back a fixed rate loan early.

  • What is a graduate loan?

    A graduate loan is when an amount of money is given to you by a financial institution which you can use to help you sort out your finances after college whether you need a new laptop, your first car or a well-earned break. You agree to repay the loan amount plus interest to the financial institution over a certain length of time.

  • Am I eligible for a graduate loan?

    You can apply for a graduate loan if you:

    • are aged 18 or over
    • live in the Republic of Ireland
    • hold a Bank of Ireland graduate current account
    • are already in employment or have a signed contract/offer of employment

    Lending criteria, terms and conditions apply.


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
Warning: The cost of your monthly repayments may increase.

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. Representative example: The repayments on a personal loan of €20,000 over a 60-month period are €391.92 per month at 6.6% variable (Annual Percentage Rate of Charge (APRC) 6.8%). Cost of credit is €3,515.20. Total repayment is €23,515.20. Variable rates are correct as of 25 June 2024 and are subject to change. Lending criteria, terms and conditions apply.
2 APR stands for Annual Percentage Rate. Representative example: The repayments on a graduate loan of €5,000 over a 60-month period are €94.18 per month at 4.95% variable (Annual Percentage Rate of Charge (APRC) 5.0%). Cost of credit is €650.80. Total repayment is €5,650.80. Variable rates are correct as of 25 June 2024 and are subject to change. Lending criteria, terms and conditions apply. Over 18s only.
3 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 customers only.