|Loan type||Unsecured personal loan|
|Loan amounts available||£1,000 – £25,000|
|Loan terms available||12 – 84 months (7 years)|
|Age eligibility requirements||Minimum 21 years old, and no older than 70 years old by loan end term date.|
|Access for lower credit scores||Low chance of approval – no bankruptcy or CCJ statuses accepted|
|Chance of acceptance available||No|
|Loan pay out time after approval||2 working days|
|Early repayment options||Yes, with potential fees|
Who is Bank of Ireland?
Bank of Ireland operates as a UK part of the international group covering a wide range of financial services to customers. You can compare Bank of Ireland personal loans and get a quick online decision, with representative rates shown to help you see what is right for you.
How much can I borrow with a personal loan from Bank of Ireland?
Loans available with Bank of Ireland will range from £1,000 to £25,000, with a broad selection of repayment plans and timelines. The specific plan and repayments offered to you will be dependent on your credit history and your personal circumstances.
What interest rates are offered by Bank of Ireland?
Bank of Ireland rates will vary – they use representative rates to help give an idea of what they can offer to you. The specific rate you will be offered may change with your credit score. If you have a healthier credit score, you are likely to be offered lower APR values, which means your monthly repayments could be lower.
If you have had difficulty with making credit repayments in the past, or haven’t yet had the opportunity to build up a healthy credit score, you may find that Bank of Ireland offers rates that are a little bit higher. This is because your credit score may show you as a riskier person to lenders.
Need to give your credit score a boost? Check out our top tips for improving your credit score.
What can I use a personal loan for?
Personal loans generally do not have too many restrictions on them – any that apply will be explained to you before you sign an agreement. Popular uses for personal loans include:
- Consolidating your debts
- Making home improvements
- Buying a new car
- Going on holiday
- Funding a wedding
Who is eligible for a personal loan from Bank of Ireland?
Your credit score and personal circumstances will be factored in when assessing your eligibility for a loan from Bank of Ireland. Most lenders will look at how risky it is to lend money to you, so improving your credit score will make a difference to your eligibility for loans and the rates you will get.
Bank of Ireland also have their own eligibility criteria for applying for personal loans. You need to:
- Have been a UK resident for at least the past 3 years
- Be at least 21 years of age, and no older than 70 at the end of your loan lifetime
- Have a steady annual income of at least £12,000
- Have a good credit history, without CCJs or bankruptcy
- Have a UK-based bank or building society account, with the ability to pay direct debits
How quickly do Bank of Ireland pay out their loans?
Once your loan is approved and the agreement is signed and returned, Bank of Ireland aim to pay out the loan value within two working days. This is to allow them time to complete all financial and fraud checks
Can I pay off my loan early?
There may be options for you to pay off your Bank of Ireland personal loan early, either through extra payments or by paying off the remaining balance in full – although there may be fees associated with doing so.
Are there any added benefits to a personal loan from Bank of Ireland?
Bank of Ireland loans are just one part of the financial services offered by them. There are a number of advantages to taking out a personal loan from Bank of Ireland:
- Excellent customer service from an experienced financial lender
- Quick loan application and pay out times
- Options to overpay or pay off your loan early – subject to any fees that Bank of Ireland may charge you for early repayment.
- Broad options of repayment amounts and timelines to help fit your needs
How do I check my eligibility for personal loans with Bank of Ireland?
At Aro, we can check your eligibility for loans with Bank of Ireland as well as many others as part of our wide lending panel. Simply fill in your details and we’ll do the rest.
Our lenders and partners
You know, we don’t work with just anyone. We only work with trusted UK lenders and credit card providers that will help you find your best borrowing option.
We do things right, so you can get it right
Doing the right thing is our number one thing. Our commitment to putting customers first is unmatched.