With the interest free student loan you get:
Low rate of just 1% APR.
Borrow up to €1,000 each year.
Apply online or by calling 0818 200 334.
Option to defer the first three monthly repayments (optional, only if your loan is repaid monthly).
12 months to repay the loan in full.
APR stands for Annual Percentage Rate.
Lending criteria and terms and conditions apply and each application is individually assessed. Applicants must be over 18 years of age and be able to demonstrate that they are a student.
Generally, student applicants should be undertaking a full time course in a recognised 3rd level college in the Republic of Ireland. Proof of qualification may be sought from non-Bank of Ireland customers. Only Bank of Ireland customers can apply online.
The repayments on a student loan of €1,000 over a 12 month period are €83.79 per month based on a variable rate of 1% APR. The total cost of credit is €5.48.
Note by deferring the first three monthly repayments you will pay more than if you paid over the standard term.
The rate quoted is correct as at the 21st July 2016 and is subject to change.