Allied Irish Bank (AIB) loans

Whether you’re carrying out home improvements or buying your first car, AIB offers a range of competitive rate loans for every borrowing need.

What type of loans do AIB offer?

AIB have a wide range of loans available to fit every financial need. Here’s a quick summary of each loan product that AIB offers to help you decide which best suits your circumstances.

  • Personal loans: AIB provides loans for any purpose from €1,000 to €30,000 for up to five years with flexible repayment options.
  • Car loans: AIB offer competitively priced loans for car buyers. Take the hassle out of complex car finance with a car loan and own your car outright from day one or opt for a hire purchase loan.
  • Home improvement loans: AIB can help you achieve your home improvement goals with loans up to €75,000 and loan terms of up to 10 years.
  • Green personal loans: AIB provides lower rate loans when you borrow for green home improvements like solar panels, energy-efficient heating or even buying a plug-in hybrid vehicle.
  • Student loans: If you qualify for a Student Plus Account you can apply for a loan up to €50,000 with competitive interest rates.

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Why get a loan with AIB?

Here’s a look at the features and benefits of choosing AIB for your loan:

  • Quick loan approval: To borrow between €1,000 and €30,000, online applications take a few minutes for AIB customers, and you can get a decision in under three hours within business hours. Exclusions apply.
  • Competitive rates: AIB offer a choice of market-leading variable rate loans. Once your repayment plan is agreed upon, it won’t change. If the rate rises during the loan term, you may need to pay extra at the end of the term, but if the rate falls, you might repay your loan sooner.
  • Flexible loan terms: Spread your repayments over one to five years and up to 10 years for some home improvement loans. Pick your own repayment schedule and choose between weekly, fortnightly or monthly.
  • Smart loan tools: AIB have online loan tools like the Loan Repayment Calculator and the Loan Affordability Calculator to help you work out how much you can borrow and what it will cost.
  • Planned repayment holidays: AIB offers the option of a planned repayment break, so you can spread the annual cost over 11 months instead of 12 months. This needs to be arranged at the time of application.
  • No charge for early repayment: If you’re able to pay a little more towards your loan, you won’t be penalised for making extra payments or paying it back early.
  • Support every step of the way: AIB provide handy tools like a downloadable income & expenditure planner, phone or branch appointments to talk through your options, or for those quick questions; live web chat and AskAIB on Twitter.

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AIB loans in focus

Alongside their personal and home improvement loans, AIB has designed several loan products tailored to specific financial goals.

Green loans

This loan offers lower rate loans to upgrade to a greener, more energy-efficient home or car. Just show proof that 50% or more will be spent on a green initiative, like upgrading your home or buying a home charger unit.

  • The loan has a lower rate APR (Annual Percentage Rate) than a personal loan
  • Borrow between €3,000 and €30,000 for up to 10 years
  • Flexible repayment options are available

Green personal loan

Here’s just some of the green initiatives you can use this loan for to make your home more energy efficient:

  • Wall, attic and floor insulation
  • Window and door upgrades or replacements
  • Renewable energy systems, including heat pumps and solar panels
  • Boiler upgrades and pipe insulations
  • Installation of energy-efficient heating controls

The loan isn’t directly linked to any home energy grants available on the SEAI website so it’s worth checking if you qualify for free financial support first.

Green car loan

If you’re thinking of upgrading to an electric or a plug-in hybrid electric vehicle or purchasing a home charger unit you can get a lower interest rate with the AIB green car loan.

Car loans

AIB offers two car finance choices for car buyers:

Personal car loan

A car loan allows you to own your car outright from the start.

  • Borrow up to €30,000 and up to €75,000 for a joint application
  • Spread your repayments over a term of up to 5 years
  • Set your own repayment schedule
  • No penalties for extra or early repayment

Hire purchase car loan

Pay for your new or used car in instalments and the car is yours at the end of the agreement.

  • Pay for your new car in simple instalments
  • Available for amounts over €10,000
  • Choose a repayment term between two and six years
  • Extra fees may apply

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Applying for an AIB loan

You must be over 18 and resident in the Republic of Ireland to apply for an AIB loan.

  • If you’re applying for a loan between €1,000 and €30,000 and you’re already a customer with AIB, you can apply through Internet Banking or the AIB App.
  • For joint applications or to borrow between €30,000 and €50,000, phone AIB and ask for a callback or call into your local branch.
  • To borrow between €50,000 and €75,000, contact your local branch.

How long does it take?

If you’re an existing AIB customer, online applications up to €30,000 take a few minutes, and you can get a decision within three hours.

The three-hour decision applies to fully completed, new personal loan applications under €30,000 processed within business hours, however, exclusions apply.

Once your loan is approved and you request the money, the funds will be sent straight to your current account.

More from AIB

Allied Irish Bank, simply known as AIB, is Ireland’s largest bank with over 170 branches across the country. They offer a full range of personal, business and corporate banking services as well as mortgages, insurance and pensions.

Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.

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It only takes a few minutes to find the best loan for your borrowing needs.

AIB Loans FAQs

What counts as a green initiative?

AIB lists these green initiatives as the sort of upgrades you can do to your home. The list also includes the purchase of electric vehicles and charger units.

  • Wall, attic and floor insulation
  • Window and door upgrades or replacements
  • Ventilation systems
  • Renewable energy systems, including heat pumps and solar panels
  • Sustainable water systems
  • Boiler upgrades and pipe insulation.
  • Installation of energy-efficient heating controls.
  • Battery electric or plug-in hybrid electric vehicles
  • Home charger units for electric or hybrid cars

Am I eligible for an AIB loan?

You must be over 18 and resident in the Republic of Ireland to apply.

You will need to verify your identity with your Personal Public Service Number (PPSN) or Tax Reference Number (TRN). This is required by the Central Bank of Ireland’s Central Credit Register for customer identification.

Why is my loan decision taking longer than three hours?

The three-hour decision applies to fully completed, new personal loan applications processed within three hours between 9:00 and 17:00, Monday to Friday excluding bank holidays. It applies to loans up to €30,000 and terms between one and five years.

It excludes applications to restructure or clear existing AIB borrowing, applications referred for review, applications from customers in financial difficulty; applications for student loans, applications via business centres; or where total borrowing exceeds €100,000.

Although AIB aims to give you with a decision within three business hours, this may be extended for technical or other reasons.

Will I be credit checked if I apply for an AIB loan?

Yes, AIB will need to carry out a credit check with the Central Credit Register (CCR) operated by the Central Bank of Ireland, which is standard practice with all lending applications. If you’d like to know more about how credit checks work or how to check your own credit record visit our helpful guide.

Licensed credit reference agencies will record details of any searches AIB Group makes whether or not your application proceeds and this will show on your credit record.

Is there an application fee to apply for an AIB loan?

No, there is no fee when you apply for a loan with AIB.

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 05/12/2022