AIB Personal Loan
Flexible loan amounts from €1,000 to €75,000, competitive APR from 8.65%, and instant online approval for many. Perfect for cars, renovations or education!
About AIB Personal Loans
AIB’s personal loans offer a wide borrowing range, from €1,000 to €75,000 with terms between one and ten years. Interest rates are highly competitive, currently at 8.65% or 8.95% APR variable depending on amount and purpose. Loan approval can be as fast as three hours for existing customers applying online.
The loan can be used for things like buying a car, home renovations, education, a holiday, or even green upgrades. Borrowers appreciate that there are no penalties for early repayment or making lump sum repayments. Joint applications and larger amounts up to €75,000 are also available by phone or in branch. Lending is subject to status and suitability checks.
How to Apply: Step-by-Step Guide
1. Select your loan amount and purpose on the AIB website’s loan calculator.
2. Existing customers can log in to AIB Internet Banking or the mobile app for instant online applications up to €30,000.
3. New customers should call in or visit a branch to apply.
4. Prepare documentation: proof of ID, proof of address, PPSN, employment details, income, and expenses.
5. Submit the application and receive a decision—sometimes within hours for eligible applicants.
Pros of AIB Personal Loans
One major advantage is the quick approval process—decisions can come within three hours for online submissions. This makes AIB an attractive option if you need funds fast.
Another benefit is flexibility in repayments; you can select weekly, fortnightly, or monthly schedules and even take one payment holiday per year. There are also no penalties for early repayment, which provides peace of mind and savings for those paying off early.
Cons of AIB Personal Loans
The main drawback is that the advertised rates are variable, which means monthly repayments may not clear all the interest if rates rise during your term. This could mean higher costs at the end.
Another potential downside is documentation requirements and ineligibility for those under 18 or without steady income, which may exclude some applicants.
Verdict: Is AIB Personal Loan Right for You?
AIB’s personal loan is a solid, reliable choice for those needing funds across a variety of uses, from home improvements to major purchases. With flexible terms, fast approval for existing customers, and generous repayment conditions, it’s an excellent option for those who value speed and flexibility.
However, if you prefer a fixed rate to avoid surprises or need to borrow with minimal paperwork, you may want to compare other available offers. Still, for most standard borrowers in Ireland, AIB delivers fast access to funds, clear terms, and strong support.
