Ireland’s best personal loans

Whether you’re buying a car or a holiday, a personal loan can be a quick and simple way to borrow money. Compare loan rates and terms here to find the best loan for you.

Lenders
We found 9 results for you
Sorted by monthly payment
Green Personal Loan
6.4% Typical APR
Variable rate
36
Repayments
€10,987.56
Total repayment
€305.21
Monthly payment
Green Loani
You could get a lower interest rate from AIB if you use your loan for something green like solar panels, energy-efficient heating controls or plug-in hybrid vehicles. T&Cs apply.
Personal Loan
6.5% Typical APR
Variable rate
36
Repayments
€11,002.53
Total repayment
€305.63
Monthly payment
Our calculations may differ slightly to those in the Revolut app.
Personal Loan
7.5% Typical APR
Variable rate
36
Repayments
€11,157.84
Total repayment
€309.94
Monthly payment
Personal Loan
8.2% Typical APR
3 Year fixed rate
36
Repayments
€11,264.49
Total repayment
€312.90
Monthly payment
Refinance Loan
8.2% Typical APR
3 Year fixed rate
36
Repayments
€11,264.49
Total repayment
€312.90
Monthly payment
An Post Money Personal Loan
8.7% Typical APR
3 Year fixed rate
36
Repayments
€11,347.64
Total repayment
€315.21
Monthly payment
An Post Money Refinance Loan
8.7% Typical APR
3 Year fixed rate
36
Repayments
€11,347.64
Total repayment
€315.21
Monthly payment
Personal Loan
8.95% Typical APR
Variable rate
36
Repayments
€11,379.24
Total repayment
€316.09
Monthly payment
PTSB Personal Loan
12.5% Typical APR
Variable rate
36
Repayments
€11,922.79
Total repayment
€331.19
Monthly payment
You can use our loan calculator and comparison to compare the cost of different loans in Ireland, but the rates you see are not guaranteed. Exactly how much you'll pay depends on your credit record, affordability and how much you choose to borrow. Always check the total cost of your borrowing before you proceed.

What can you use a personal loan for?

A personal loan can be used for any purpose.

Some of the most common reasons for taking an unsecured personal loan are:

  • to buy a car or other vehicle
  • for a holiday or family event
  • to pay for a large purchase
  • to support education and study
  • medical or dental costs

The latest release by the Banking & Payments Federation Ireland (BPFI) reports the number of personal loans taken out is up 27% year on year, with car loans and green loans rising even more.

How much can you borrow?

The maximum you can borrow as a couple is up to €75,000, although people typically take out a personal loan for smaller amounts e.g. between €1,000 and €10,000.

A larger loan and longer term may take longer to approve, and you may not be able to complete the full application process online.

How much do personal loans cost?

It depends on how much you plan to borrow, but four main factors influence costs.

  • Interest rate: The higher the interest rate, the more the loan will cost you.
  • Amount borrowed: Small loans tend to have a higher interest rate than larger amounts, but you’ll pay more interest over the term.
  • Length of the term: The longer the loan term, the more interest you’ll pay on your borrowing.
  • Your credit history Your credit rating also affects the interest rate you’re given. Here’s how to check your credit record.

Personal loan calculator

Our personal loan calculator helps you work out what you can afford. It will tell you:

  • your monthly repayments
  • how much interest you’ll pay
  • what the loan will cost in total
  • how long it will take to repay

Calculate your loan costs

How to get the best personal loan

The best personal loan will let you borrow the amount you need, with affordable monthly repayments and the lowest interest rate possible.

Using a personal loans comparison tool or broker to help you shop around for the best rates in Ireland is a great way to find the right loan for your budget.

To help you find the best loan for your financial needs, think about:

  • The amount you need to borrow: Keep your loan to the minimum and don’t be tempted to borrow more than you need. If you are using the loan for a purchase, such as a car, use as much cash up front as you can afford.
  • The total cost of the loan: Check the overall cost of the loan because the final amount payable may end up being more than you think. Interest rates and extra fees will always make credit more expensive than paying in cash.
  • Interest rates: The lower the interest rate, the cheaper your loan will be. We include the typical APR (Annual Percentage Rate) for each lender in our loan calculator so you can get an idea of the cost before you apply.
  • Monthly repayments: You can keep monthly costs down by spreading the loan over a longer period, but you will end up paying more in total. Set your monthly repayments at an affordable level but don’t spread the cost for longer than you need to.
  • Repayment term: Keep the repayment term as short as you can afford because the quicker you pay back the loan, the cheaper it will be. Most personal loans give you the option to repay over a period of one to 10 years.
  • Early repayment fees: Some lenders will charge you for early repayment which is another reason to consider the repayment term carefully. Look for a lender with flexible payment terms if you think you may want to repay early.
  • Other charges: Banks will charge you for late payments, missed payments and sometimes just to arrange the loan. Make sure you check the small print and are aware of any charges that could be incurred during the loan period.
  • Your credit score: Some banks may be reluctant to give you a personal loan if you have a poor credit rating. A low score may mean interest rates are higher too so work on building your credit score to maximise your chance of getting the best loan.

If you take all these factors into consideration before applying for a loan, you are more likely to find the right balance between the repayment term and an affordable monthly cost to get the best loan.

What are the best personal loan rates in Ireland?

Compare personal loan rates using our online comparison tool, and quickly see the cost of the loan across different lenders and how much your monthly repayments might be.

The loan details and rates are based on your ability to repay and aren’t guaranteed, but they can give you a good idea of the best rates on offer.

Compare:

  • Typical APR
  • The number of repayments
  • Monthly cost of loan
  • Total cost of loan

What does Typical APR mean?

APR is short for Annual Percentage Rate. It’s a calculation of the overall cost of your loan and takes into account all the costs during the term of the loan including set up charges and the interest rate. Any extra fees are added to the loan amount before interest is calculated.

It’s a legal requirement for credit lenders to show their interest rate on borrowing so an easy and fair comparison of interest rates can be made between finance companies like banks and lenders.

Why is the Typical APR different?

The Typical APR is an advertised rate that the majority of people approved for credit will be offered. If your credit rating is poor or you have a low income you could pay more than the typical APR being advertised.

For personal loans, the Typical APR may also differ depending on the size of the loan (for instance, 12% APR for loans up to €3,999, and 8% APR for loans of €4,000 to €9,999).

Can you get a personal loan with bad credit?

Yes, you can, but you will likely pay higher interest and the loan will be more expensive.

You may find that banks are more reluctant to lend to people with bad credit, but there are many specialist lenders who may be able to help.

A good first step to getting a personal loan with bad credit is to check your credit score and work on repairing it so you can get better credit facilities in future.

Where can you get a small loan in Ireland?

AIB offers personal loans that start from €1,000, but other lenders, for example, credit unions, may let you borrow as little as €500. Although each credit union is different, you can apply online with next day approval.

Applying for a personal loan

The easiest way to get a personal loan is by comparing the lowest rates available and then applying online with a lender like a bank or a credit union. Credit unions and online banks promise a quick application process and fast approval.

If you have a bad credit rating, there are brokers who can help, but the application process may take longer.

You can apply for a loan in various ways.

  • Online
  • Via a banking app
  • Over the phone
  • In person at a bank branch

If you want to talk through your options and costs it may be better to apply over the phone or in person. If you’re clear about your needs, then you may benefit from better rates if you apply online.

Documents you need

If you’ll need different documents depending if it’s your current bank or a new lender.

If you apply with your current bank, they will only require documentary evidence of your Personal Public Service Number (PPSN). This is required by the Central Bank of Ireland’s Central Credit Register for customer identification.

If you apply with another lender or finance company, other eligibility checks will need to take place in addition to your PPSN. Documents to provide will include:

  • Proof of identity, such as your passport
  • Proof of residence, such as a utility bill
  • Document showing your PPSN, such as an Employment Detail Summary
  • Proof of income, such as 3 months of bank statements from your main current account or payslips.

You will need a current account with the facility to set up a direct debit or standing order and fit other eligibility criteria the lender sets.

Alternatives to personal loans

If you don’t want to apply for a personal loan or are finding it hard to get approved, there are alternatives.

  • Credit cards A 0% purchase card could offer a cheaper alternative to a personal loan. It’s a cost-effective way to borrow if you can repay the credit within the 0% purchase period.
  • Secured loans This loan requires security against it, like a property. They’re easier to get if you have bad credit but own a property. Your home is at risk if you are unable to repay the loan.
  • Guarantor loans This works like a personal loan, except when you apply you have to provide a guarantor that undertakes to make payments for you if you default.
  • Buy Now Pay Later A point-of-purchase option available from most online retailers. The credit is often interest-free for a time, which you’ll repay in instalments.

Learn about how loans work in Ireland in our Complete Guide to Loans.

Tell me more

Personal loans FAQs

Is a personal loan cheaper than a credit card?

It depends on how much you borrow and how long for.

Credit cards allow you to borrow to a pre-set limit which can typically be anything up to €10,000. You choose how much you pay each month and the quicker you pay off the debt, the less interest you pay on the credit.

A 0% purchase card or balance transfer card used wisely can make this a cheaper option for borrowing smaller amounts of money for a short amount of time. You also get greater flexibility over repayments so you can pay off your debt sooner without early repayment penalties.

How do I get a Credit Union loan?

To join a credit union, you must fall within a ‘common bond’.

This means you need to:

  • Be living or working in a particular area
  • Be employed by a company that has a staff credit union
  • Be a member of a professional body that runs its own credit union

You can find out more at the Irish League of Credit Unions.

Can you get a payment holiday with a personal loan?

If you feel you may struggle to repay your personal loan due to a change in financial circumstances, then contact your lender immediately. They may be able to arrange a repayment break for up to three months, but check it doesn’t affect your credit score.

Your payments will still accrue and you will need to repay the deferred payments including interest when the repayment break is over. This means that you may pay a higher amount per month than before the deferment period.

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 19/07/2024