Lowest Personal Loan Rates Ireland

Lowest Rates on Personal Loans from Banks  in Ireland

Rates Checked January 1st 2017

On a 4 year  loan of €10000 Euro – the  lowest APR  is currently available  from KBC at  6.3% – this rate is only available for current account holders (7.3% otherwise).  Monthly repayments would be €193.91 with the total cost of credit coming in at  €1634.61 over the 4 years (assuming the rate stays the same)

Other personal loan rates available

Bank of Ireland  7.5% (online for existing account holders only)  

Ulster Bank 8.5%  (Fixed Rate)
AIB  9%
BOI (non account holders) 11.5%  Online or 12.5% for in branch
PTSB  12.5%

Larger loans usually having a lower interest rate  than smaller ones.

If the interest rate on your loan is  variable it could be increased or decreased before your loan is repaid. With a fixed rate loan the repayments will stay the same for the whole term of the loan. If you pay back a loan early you will probably have to pay a penalty.

Always look at the “total cost of credit” when comparing loans that have different repayment terms. A loan with a lower interest rate but a longer repayment length could end up costing you more in the long run.

Check your local Credit Union for loan rates – some of them may have loans at lower rates – but there have been  some restrictions on Credit Union loans since mid 2011 .  By law, credit unions cannot charge more than 12.68% APR.

You don’t usually need to have an existing current or savings account with a bank or building Society to get a personal loan from them. But – with Credit Unions you  need to become a member before they will lend to you. Also –  most of them  usually require you to have a savings record.

If you are on low income and a bank won’t lend you money – you might want to take a look at the details of a Credit Union scheme called the  It Makes Sense  loan