Borrowing and debt

Manage borrowing wisely and take control of your debt.


What is borrowing?

Borrowing is when you access money now and pay it back later, often with interest. It’s useful for big purchases, like education or home improvements, but should be approached carefully. Borrow only what you can comfortably repay, and always understand the terms and conditions. Whether it’s a loan, credit card, overdraft or mortgage, borrowing can help you reach your goals when managed well.

When used wisely, borrowing responsibly can support your financial journey without compromising future stability.

Learn more about borrowing



What is debt?

Debt is the money that you owe, on loans, credit cards, or other borrowing. “Healthy debt,” like a mortgage or student loan, supports long-term goals. “Bad debt” is like making minimum payments on a high-interest credit card.

Managing debt means knowing what you owe, keeping up with paying it back, and avoiding borrowing when you do not need to. Staying on top of your debt makes sure it remains a useful financial tool rather than a burden. Creating a plan to pay off debt while meeting your other financial priorities is key to staying in control and reducing stress.

Learn more about debt



Are you looking for a loan?

Whether you’re planning your dream wedding or holiday, buying a new car, improving your home, or furthering your education, let us help you make your plans a reality with a loan tailored to your needs.

Learn more about personal loans


The information prepared above by Bank of Ireland “BOI” is for information purposes only and does not constitute financial or tax advice. You should seek assistance from a professional if you require financial or tax advice. No liability is accepted by BOI for any errors or for any loss to any person in reliance on this information. BOI believes any information to be correct at 24/06/2025 the time of publishing and the information is subject to change without notice. BOI does not make any representations or warranties in respect of the accuracy of this information and is not responsible for the content of external sites. Please refer to our Terms & Conditions for the use of the Bank of Ireland Group Website for further details. Bank of Ireland is regulated by the Central Bank of Ireland.

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