Press Releases

08 December 2015

Bank of Ireland launches €20m fund as part of measures to support those affected by heavy flooding and storms

-       Discounted rates for business and personal loans

-       24-hour approval process

Bank of Ireland (8th December 2015) has announced a number of measures to assist businesses and homeowners affected by the recent bad weather and heavy flooding.  In addition to the allocation of a new €20 million fund for people who require emergency financial support, the Bank is introducing an approval process where funds can be approved and provided within 24 hours. Applications will also be accepted from non-Bank of Ireland customers.

From today, homeowners, sole traders, shop owners and businesses carrying out remedial work or repairs up to €25,000, following approval process, will be eligible to avail of discounted rates for personal and business loans.   Customers seeking financial support can call us directly on 1890 365 100 or visit one of the Bank’s 250+ branches across the country whose doors are open to those impacted and in urgent need of lending facilities.

Commenting on behalf of the Bank, Gavin Kelly, Director of Consumer Banking, said: “We are acutely aware of the impact that Storm Desmond has had on our customers and their communities over recent days as a result of the unprecedented levels of rainfall and stormy conditions. This fund has been mobilised to support individuals and communities that are most affected by giving them access to vital financial support when they need it most, thereby enabling people to get back to normal domestic or business life as soon as possible.”

“It is an extremely difficult time, particularly in the run-up to the Christmas season, and we would like to reassure people that we are here to help and will be as supportive and flexible as we can," Mr Kelly concluded.

Home or Motor Insurance customers affected by the recent bad weather can also avail of a 24hour insurance helpline which provides access to a wide range of qualified and approved tradespeople. Customers can get immediate contact information, at any hour of the day or night, for someone in their specific area who can help with home emergencies by calling the helpline 24 hours a day at 1850 213 111.

ENDS

Note to Editor:

Personal loan

  • Borrow up to €25,000 (Larger amounts will be considered)

  • No security required

  • Discounted variable rate of 7.2% APR on qualifying loans

  • Terms of up to five years

  • Option to defer the first three monthly payments

 

Business / SME loan

  • Borrow up to €25,000 with larger amounts considered

  • Discounted rate of 5.24%

  • Terms of up to five years

  • Available for new facilities only

  • Option to defer the first three monthly payments

               

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