Loan and Overdraft FAQs

AIB Car Finance

• What type of Car Finance can I apply for?

  You can apply for 2 different types of Car Finance through AIB Internet Banking

  • New Personal Loan/Car Loan (Variable Interest) from €1,000 to €30,000 online and up to €75,000 in branch or over the phone.

  • Hire Purchase (Fixed interest) from €10,000 to €60,000 in branch or over the phone

  Full details on AIB Car Finance options. 

• What is a car loan and a Hire Purchase agreement?

  • A Car Loan is a variable rate personal loan to enable the customer to buy a used or new car. Car Loans available from €1,000 to €75,000.

  • Hire Purchase allows the customer to borrow money at a fixed interest rate to buy a used or new car. The bank retains security interest over the asset bought until all repayments have been made. The asset becomes the customers property when all the instalments due have been made & the purchase fee has been paid. Hire Purchase is for amounts of €10,000 to €60,000.

• How much can I apply for online, by phone or in the branch?

  • You can apply online for a Car Finance Loan from €1,000 up to and including €30,000.

  • You can apply for a Car Loan for amounts from €1,000 up to €75,000 in your branch or by phoning us on 0818 724 725.

  • You can apply for Hire Purchase for amounts over €10,000, in branch, over the phone.

  Full details can be found in the ‘How to Apply’ section here.

• Can I apply for Car Finance for any car new or used?

  Yes you can apply for AIB Car Finance for either New or Used cars.

• Over how many years can I repay the Car Finance?

  • You can repay your Car Loan from between 1 to 5 years.

  • You can repay your Hire Purchase between 2 to 5 years for used cars and up to 6 years for new cars.

• When will I know the decision on my application?

  • We will endeavour to give you a decision on your Car Loan application instantly.

  • If your application is referred to our lending team for review you will receive a decision within 3 business hours.

  • If you applied online and you have provided us with your mobile phone number, we will text you once a decision is available (you can log into your AIB Internet Banking and select “My Application & Documents” under the “Apply& Open” menu to view the decision).

  • If you applied for a Car Finance facility in the branch, you can contact your local branch or Relationship Manager after 3 business hours to check the status of your application.

  • If you applied for a Car Finance facility over the phone, you can ring 0818 724 725 after 3 business hours to check the status of your application.

  • Our business hours are 9am to 5pm Monday to Friday, excluding bank holidays. Although we aim to provide you with a decision within 3 business hours, this period may be extended for technical or other legitimate reasons.

  Full details on car finance. 

• Can I view my Car Finance balance and transactions on AIB Internet Banking?

  You can view the ‘Balance’ and ‘Recent Transactions’ of a Car Loan or Hire Purchase through Internet Banking, by clicking on ‘My Accounts’ and choosing the relevant account to view.

  If you wish to discuss your Car Finance facility, you can contact your local Branch or Relationship Manager directly.

• How Do I apply for Car Finance online?

  You can apply for Car Finance through AIB Internet Banking.

  There are 2 products available. The key features of these products are all detailed within the AIB Internet Banking Application. There are both Fixed and Variable interest rates available.

  Log into Internet Banking;

  1. Click 'Apply & Open'.

  2. Under 'Borrow' review our range of Car Finance products to find the product that best suits your needs

• What do I need to apply for Car Finance online?

  • If you hold a Personal Bank Account or AIB Advantage account for more than six months and are registered for AIB Phone & Internet Banking, you can apply for a Car Loan online through AIB Internet Banking for amounts from €1,000 to €30,000, and get a decision on your application within 3 business hours

  • Your salary must be paid directly to your AIB current account

  • You may apply online for a loan in your sole name only - joint applications are not available. Please contact your branch or click here for further information regarding joint applications.

• What rate of interest is charged for AIB Car Finance?

  Full details including a quick quote calculator can be found on the Car Finance page.

• Are there any other fees or charges?

  Full details including a quick quote calculator can be found on the Car Finance page.

AIB Business Loans

• What type of Business Loan can I apply for?

  You can apply for a Standard Business Loan through AIB Internet Banking. An Online Standard Business Loan is a variable interest rate loan that may be suitable to help finance the growth and development of your business.

  You may only apply for a Standard Business Loan through AIB Internet Banking if you are a sole trader. If your business is a partnership or a limited company you must please contact your local branch to make an appointment with one of our lenders.

  Further details about Business Loans can be found on the AIB Business Banking website.

• How do I apply for a Business Loan online?

  1. Click 'Apply & Open'.

  2. Select 'Standard Business Loan' under the ‘Borrow (Business)’section.

  3. Complete the necessary information regarding the Business Loan.

  4. Enter the requested digit from your Personal Access Code (PAC) to complete the application.

• How much can I apply for?

  You can apply for a Standard Business Loan from €1,000 to €25,000.

• Over how many years can I repay the loan?

  You can choose to repay your loan over a period of 1 to 5 years.

• Can I make loan repayments on a monthly or fortnightly basis?

  Yes, you can make loan repayments on either a monthly or fortnightly basis.

• When will I hear that my Business Loan has been approved?

  When you apply on-line for a Standard Business Loan, you will receive a decision in the post within 5 business days.

• Where will my loan account be opened?

  Your loan will be opened at your AIB branch.

• What loan interest rate will I be charged?

  The bank's standard variable Business loan rate.

• If I have any queries in relation to my loan whom do I contact?

  If you have any queries in relation to your application for a Standard Business Loan, please contact AIB at 0818 724 725 or +353 1 7726633 between 9am to 5.30pm, Monday to Friday.

• Is there any application fee for applying for a Business loan through AIB Internet Banking?

  There is no fee charged for applying for a Standard Business Loan through AIB Internet Banking.

• Will I be able to view my loan balance and transactions on AIB Internet Banking?

  You will be able to view your loan account balance and loan account transactions through AIB Internet Banking, by selecting the "My Accounts" function on the site and entering the new loan account number and National Sort Code (NSC) details.