Ireland’s best loan rates
We help you compare the best online loans in Ireland for low cost borrowing. Use our quick loan calculator to find the best rates on personal loans and home improvement loans.
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Guide
Your complete guide to loans in Ireland
Loans can provide a financial lifeline, but borrowing can be costly. Discover all you need to know about loans in Ireland and discover how to get the best loan rates.
- Part 1 How loans work
- Part 2 Types of loans
- Part 3 Where to get a loan
- Part 4 Choosing the right loan
- Part 5 Applying for a loan
- Part 6 Loan repayment calculator
Our expert says
A personal loan can provide a financial helping hand for life’s big purchases.
Loans are a cost-effective way to fund home improvements, purchase a new car or cover unexpected costs. They allow you to pay upfront for the things you need and spread the cost of repayments. If you manage your money well and make repayments on time, an unsecured loan is an ideal way to borrow and stay within your budget.
Our advice is to shop around to compare interest rates and total costs. A loan calculator is a handy way to work out what you can afford to borrow and repay monthly. At the moment fixed rate loans are more expensive than variable rate loans which start at 6.4% typical APR (Annual Percentage Rate), but the interest rate may go up or down throughout the period of the credit agreement.
When you find a great loan deal, don’t be tempted to borrow more than you need and repay it as soon as possible to keep interest costs down. Remember, failure to meet repayments can negatively impact your credit rating and your ability to access credit in the future.
The best loans have a low APR and are flexible, so you can pay it back on your own terms and reduce loan costs.
The Central Bank regulates financial services and facilities provided by lenders and credit intermediaries, so make sure you borrow from an authorised lender.
Eoin Clarke
Latest Update
Loans roundup
An Post now offers low cost Home Energy Upgrade loans
13/02/2025: An Post are now offering Home Energy Upgrade loans as part of a scheme led by the Strategic Banking Corporation of Ireland (SBCI) to make energy upgrades more affordable for homeowners. The An Post Green Home Improvement loan has been withdrawn.
For eligible applicants, loans are offered between €5,000 and €75,000 for home energy upgrades with a term of up to 10 years depending on the loan amount.
Discounted fixed rates start at 3.75% APR (Annual Percentage Rate) for loans over €20,000 and 7.20% APR for loans under €9,999.
Surge in car and home improvement loans as values reach record levels
07/02/2025: The numbers and values of personal loans surged in the third quarter of last year, across all loan types - car, home improvement, wedding and green loans.
Almost 63,000 personal loans were drawn down in the third quarter of last year, an increase of 9,200 or 15% since 2023.
The average loan size was €10,700, up €374 on the figure for the previous year, while the value of all personal loans was €670m; €118m more than the previous year.
- Green loans - lenders who sought to improve the energy efficiency of their homes or purchase an EV - increased in value by 19%; due to inflation in construction and vehicle prices.
- Car loans - The number of car loans jumped 14pc in the year to 17,073, while the average car loan value increased by €835 to €13,434.
- Home improvement loans - A total of 16,194 home improvement loans were drawn down, up 12% year on year. The average home improvement loan increased by almost €600 to €12,606.
Avant Money to become a branch of Bankinter in April
01/02/2025: Bankinter, a Spanish banking group, is converting its Irish subsidiary, Avant Money, into a full-service branch.
Avant Money, currently a non-bank lender offering personal loans, mortgages and credit cards, will initially focus on expanding its deposit offerings after the transition.
This change, effective April, will allow Bankinter to provide a wider range of services to its 200,000+ Irish customers, including deposit accounts.
While the Irish branch will initially retain the Avant Money name, a rebranding to Bankinter is expected in the future.
Personal loan drawdowns reach record highs this year
05/11/2024: Personal lending has reached record highs, with a total of 60,647 loans worth €641m drawn down between April and June this year - the most ever recorded in that time frame.
New figures from the Banking and Payments Federation Ireland (BPFI) show a 7.6% jump in volume and 18.9% in value compared to 2023, with car loans topping the list.
Car loans increased by 12.4%, while car loan values were up 18.9% (€683) to €12,605. Home improvement loans jumped in value, too, increasing by around €1,600 to €12,568.
Green loans were up 2.9% and with an average value of €22,933, they were more than twice that of an average personal loan, which was €10,560.
An Post Money has dropped interest rates for some personal loans
03/09/2024: An Post has changed the fixed interest rates on personal loans. The minimum interest rate on personal loans between €5,000 and €19,999 has dropped to 8.2% APR.
An Post’s Electric Vehicle loan rate has dropped by over 1% and now starts at 6.9% APR for loans over €20,000.
For personal loans between €20,000 and €75,000, the rate has increased and now starts at 7.3% APR.
Loan calculator
Our personal loan calculator can help you work out your monthly repayments and interest in just a few clicks. See how much your online loan costs from Ireland’s leading lenders.
We can help you compare:
- Annual Percentage Rate (APR)
- Total repayment costs
- Monthly repayments
- Loan repayment terms
Our borrowing tips
Whether you’re planning a kitchen refit or buying a new car, a loan can boost your finances and help you turn goals into reality. Here’s how to borrow wisely and stay in control of loan costs.
Shop around and compare loan costs
Use a personal loans comparison tool or broker to help you find the best persoanl loan rates. Compare the APR, total loan costs for the term and monthly repayments. Check out any other benefits offered such as payment holidays or flexible terms.
Only borrow what you can afford
Think carefully about how much you need to borrow. If you can pay for something with savings, then use your savings first. Keep your loan to the minimum and don’t be tempted to borrow more than you need. If you’re using the loan for a big purchase use as much cash upfront as you can afford.
Keep your loan term as short as possible
The more quickly you can pay back your loan, the less interest you’ll pay in total. A shorter loan term will increase monthly payments and a longer term will reduce them.
To find the sweet spot, use a loan calculator to determine how much you can afford to repay in the shortest time period.
Beware hidden costs and fees
Some lenders will charge you for early repayment, but more lenders are now offering flexible payment terms which means you can repay early without penalty. Banks will also charge for late or missed payments, so make sure you check the T&Cs and know what extra fees could be incurred during the loan period. Opt for a flexible loan if possible and watch out for any loan set-up fees hidden in the fine print.
Clean up your credit record
Before you apply for a loan, check your credit record is up to date and in good shape. Our guide How to check your credit record tells you how to check and boost your credit rating so you can be confident of loan approval. A good credit rating increases your chances of loan approval and a favourable interest rate. A bad credit rating means you may face difficulty getting a loan. Poor credit can also limit your ability to access credit, get a hire-purchase agreement, mortgage, car finance, or BNPL.
What you need to know
What does APR mean?
It’s short for Annual Percentage Rate (APR) and shows the annual loan costs. It includes lender fees and interest and helps people compare loan costs fairly.
What is the repayment term?
It’s the length of time you borrow money. Unsecured loans are offered for between one and 10 years and many lenders allow you to choose the term.
Fixed or variable rate loan?
A fixed rate means interest and monthly repayments stay the same over the loan term. A variable rate means your repayments may differ based on the interest rate.
What is a credit record?
Lenders use your credit record to help them decide whether you’re creditworthy. Your credit rating is based on your borrowing and repayment history.