Ireland’s best loan rates

We help you compare the best online loans in Ireland for low cost borrowing. Use our loan calculator to discover Ireland’s lowest interest rates.

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Personal loans

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Home improvement loans

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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 find out how to get the best rates.

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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 always 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 then variable rate loans, 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.

The best loans have a low APR (Annual Percentage Rate) and are flexible, so you can pay it back on your own terms and reduce loan costs.

Car loans surged by 25%* during 2023 as prices continue to climb and more consumers opt for electric vehicles. Review all car finance options available and compare the overall cost of the the loan before borrowing.


Eoin Clarke

Eoin Clarke

Latest Update

Loans roundup

New low-cost home retrofit loans announced at half standard interest rates

25/04/2024: Home retrofit loans are available from 24 May 2024 at almost half the rate of similar loans.

PTSB is the first lender to offer the new government-backed Home Energy Upgrade Loan scheme at a rate of 3.55%. AIB, Bank of Ireland, Avant Money and some credit unions are expected to join the scheme soon.

Under the Home Energy Upgrade Loan scheme, unsecured loans of between €5,000 and €75,000 will be available for terms of one to ten years.

Avant Money reduces personal loan rates by 0.9%

22/02/2024: Avant Money have reduced their personal loan rates by 0.9%

From today, the minimum interest rate for loans between €5,000 and €19,999 will drop by 0.9% to 8.2% APR.

That means overall savings of €240.61 on the cost of a €10,000 loan over 5 years, borrowing at the new, fixed rate of 8.2% APR.

There is no change to interest rates on loans between €20,000 and €75,000.

An Post drops personal loan rates by up to 0.6%

22/02/2024: An Post Money have dropped their personal loan rates.

From today, the interest rate of personal loans between €5,000 and €19,999 have dropped by 0.2%, to 8.7% APR.

The minimum interest rate on personal loans between between €20,000 and €75,000 reduced by 0.6%, to 6.9% APR.

That means overall savings of €318.59 on the cost of a €20,000 loan over 5 years, borrowing at the new, fixed rate of 6.9% APR.

Car loans up by 25% as borrowing values rise

12/02/2024: The Banking & Payments Federation Ireland (BFPI) has reported the number of car loans taken out between July and September 2023 rose by 25% and home improvement loans by 13% compared to last year. The average loan value rose by more than €900 to €10,336.

The value of car loans jumped by almost 40%, with the average car finance loan increasing by €1,268 to €12,599. Home improvement loan volumes increased by 24%, with the average loan rising €1047 to €12,041.

Commenting on the rise of car loans, Brian Hayes, Chief Executive, BPFI, said: “While growth was seen across all categories, including home improvement loans and loans for other purposes such as holidays and special occasions, we have continued to see a particular surge in car loans. These were the highest Q3 car loan volumes and values recorded to date, due in part to the continued growth in new car sales, especially electric cars.”


Credit Union lending reaches 2009 levels

06/12/2023: Irish credit unions have reported the highest level of lending in 14 years.

The Irish League of Credit Unions (ILCU), which represents 92% of credit unions in the Republic of Ireland, revealed loans were up €555 million in September 2023, with the total loan book now standing €5.3 billion.

This is mainly due to a surge in credit union mortgages, which grew by 52% in 2023 to nearly €500 million.

The level of arrears also fell to a historic low of 2.7%.


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 or broker to help you shop around for the best 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.

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.

Warning: The cost of your monthly repayments may increase. Warning: you may have to pay charges if you pay off a fixed rate loan early. Warning: If you do not keep up your repayments you may lose your home. 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. Information provided and Interest rates quoted valid at 07/06/2024