Can I apply online or by phone?

Yes you can apply online click here, call 1890 365 100 or drop into any Bank of Ireland branch

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Which should I go for - a variable or a fixed-rate loan?

These are the main differences between them:

  • Fixed-rate: A fixed rate loan means that when interest rates are rising, the repayments on your loan will not change. The repayments are worked out at the beginning and never change. That way, you can budget and know exactly how much you will pay over the term of your loan
  • Variable rate: A variable interest rate moves up and down to reflect changes in the financial market. Changes in the rate do not affect what you pay each month, but rather how long it will take you to repay your loan. If the interest rate drops over the term of the loan, you will repay the loan sooner. If the rate goes up, it may add an additional repayment or two.

Warning: You may have to pay charges if you pay off a fixed rate loan early.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating.

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Can I take a break from repayments, or reschedule them over a longer period?

You can opt to:

  • Defer your first three monthly repayments, paying nothing for 90 days
  • Choose to pay weekly, fortnightly or monthly

Deferred payment options are only available to customers who repay their loan monthly. Deferred payments are spread over the term of the loan and must be applied for and agreed by us prior to drawdown.

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Are there penalties if I pay my loan back early?

You may have to pay charges if you pay off a fixed-rate loan early.

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How many years can I repay the loan over?

Choose the repayment term that suits you. You can spread your repayments over any period up to five years for most loans, or up to one year in the case of a Holiday Loan.

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How much will the monthly repayments be?

It really depends on how long you choose as a repayment period. The shorter the term you choose for your loan, the higher the monthly repayments will be. The longer you take to repay, the smaller your monthly payments.

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Do I need to have savings or a guarantor to take out a loan?

With Bank of Ireland loans you don't need to save with us to borrow from us. As long as you can show that you're able to make the repayments, we'll organise a loan to suit your needs. Parental Indemnity may be needed in some student lending cases.

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Are there any extra charges?

With our Personal Loans there are no arrangement fees, deposits or "balloon" repayments.

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What does optional Payment Protection cover?

Payment Protection information can be found here

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What does it not cover?

Payment Protection information can be found here

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Am I eligible for Payment Protection?

Payment Protection information can be found here

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How much does Payment Protection cost?

Payment Protection information can be found here

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