The Bank of Ireland offers a wide range of loans to fit in with your lifestyle. So, whether you need to borrow money for a renovation project, your studies, a car, or a big event, there’s a loan for you.
There’s a huge range of loans available to choose from. Here’s a brief summary of each loan Bank of Ireland offers and some key features.
You can also compare loans using our comparisons, for up to date rates and deals.
Bank of Ireland offers two types of loan that can be used to buy a car.
You can use this loan to buy a new or used car over a term up to five years, its other features include:
If you’re buying a car from a recognised car dealership in Ireland and need to borrow at least €7,000, consumer hire purchase could work for you.
To apply, just complete a contact request form and you’ll be contacted by a motor finance specialist.
Whether you’re looking to improve the carbon footprint of your home, give it a fresh new look or carry out major renovation work, a home improvement loan from Bank of Ireland could help take care of the finances.
Here’s more on each of the home improvement loans Bank of Ireland offers:
The green home improvement loan needs to be used to make your house more energy efficient. You’ll need to complete one of these qualifying upgrades:
This loan is not 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.
You should get quotes for the work needed, to help you work out how much to borrow. You can then choose a term of one to seven years to suit your monthly budget.
You’ll need to provide Bank of Ireland with proof of the work that’s carried out, to qualify for the loan, which is offered at a lower interest rate than the regular home improvement loan.
You can borrow up to the same amount with this loan and over the same term, but you can choose what work you do on your home. The loan allows you to:
Find out if these home improvement loans are right for you by comparing them against other loans using our comparison.
A personal loan can be used to fund pretty much anything and the key features of this loan are very similar to Bank of Ireland’s other loans:
Again, you can repay a personal loan from Bank of Ireland early to reduce the overall interest you pay.
Bank of Ireland offer three types of loan depending on where you are on your studying journey.
Bank of Ireland’s student loan can be used to help with college expenses as well as your day to day living and travel costs. To be eligible, you’ll need to:
A competitive interest rate is offered on this smaller loan (up to €5,000) and you can choose weekly or monthly repayments.
You’ll need to have a graduate current account with Bank of Ireland to get this loan.
Interest rates vary depending on the amount you borrow, for example up to €5,000 or over €5,000.
Again, you can pick weekly or monthly repayments and defer your first three payments if you choose to pay monthly.
If you’ve graduated and are studying a 1 year full time post graduate course in Ireland, you can apply for this loan.
You can borrow up to €14,000, to cover your fees and choose from weekly, fortnightly or monthly payments.
If you choose to pay monthly, you have the option to defer the first year’s payments which may be handy, but will also mean paying more interest overall.
You may need a parent to act as a guarantor for this loan.
The benefits of each loan differ but here are some more general reasons to pick Bank of Ireland:
Bank of Ireland usually reply to applications within 24 hours.
Once you’ve been approved for a loan, you’ll usually have 30 days to draw it down.
If you don’t, you’ll need to reapply as all the details regarding the loan will have been removed from Bank of Ireland’s records.
In most cases, yes. Paying your loan off early will reduce the amount of interest you pay overall.
Always check if there are any penalties for overpaying or clearing your loan early.
When you select a Bank of Ireland loan to apply for, you’ll usually be shown what the payments will be depending on the loan amount and term you choose.
Make sure you can afford the repayments over the whole term, and allow for them to go up if the rate is variable.
If you’re not sure, you could choose a longer term and then pay the loan off early if you end up having more funds available than you first thought.
Check the terms and conditions to ensure you can make overpayments without penalty if you’re thinking of doing this.
This means that the initial rate of interest you pay may change over time.
If the interest rate goes up, so will your monthly repayments and if it goes down, your payments will reduce.
You should allow for some fluctuation when you apply and make sure you can afford your payments to increase.
It only takes a few minutes to find the best loan for your borrowing needs.