Here's what you need to know
To borrow between €1,000 and €30,000, online applications take a few minutes, and you can get a decision within three hours.
For joint applications or to borrow between €30,000 and €50,000, run the numbers through our calculator and ask for a call back.
To borrow between €50,000 and €75,000, call us on 0818 724 725.
Loan terms from one to five years.
Set your own repayment schedule: weekly, fortnightly or monthly. You can take one month off repayments a year – just let us know at the time of loan application. This repayment option may affect the amount and/or term of the loan.
There are no penalties if you ever decide to make an extra repayment or repay your loan earlier than planned.
Another option: hire purchase
With a car loan, you borrow a lump sum to buy the car and own it outright, but with hire purchase, you pay for your new or used car in instalments. The car becomes yours at the end of the agreement.
Available for amounts over €10,000.
Repayment terms are flexible – from two to six years, depending on whether the car is used or new.
Applications for hire purchase take place in person or over the phone. Give us a call on 0818 724 725 or contact your local branch to see how much you could borrow.
Documentation Fee of €63.49 will be charged with the first repayment and an additional Purchase Fee of €12.70 payable with the final repayment. Additional fees may apply for early repayment of a fixed rate agreement or if an account falls into arrears. Click here to see our guide to fees and charges.
Thinking of going green?
Are you thinking of upgrading to a battery electric or a plug-in hybrid electric vehicle? Or thinking ahead and investing in a home charger unit? If so, then you can get a lower interest rate with our new green personal loan at 6.40% APR (Annual Percentage Rate).
Borrow between €3,000 and €30,000 when you apply through the AIB App.
For joint applications or to borrow between €30,000 and €60,000, run the numbers through our calculator and ask for a call back.
You will need to show proof that 50% or more of the loan amount is spent on going green.
It may take longer than three hours to get a decision on a green personal loan, bearing in mind the documents you need to provide to confirm 50% or more will be spent on going green.
How our loans work
We want you to have all the information you need to borrow confidently. Here are a few points to consider.
3 hour online loan approval*
Yes – when you apply online for loans less than €30,000, we really can turn it around this quickly. If you’re a customer with us, we already know a little bit about you, which makes it very straightforward for us to decide how much you can borrow. So, providing you apply telling us everything we need to know between Monday to Friday and between 9:00 and 17:00 (excluding bank holidays), we can let you know our decision within three hours. Once we approve your loan and you request your money, we will put the money into your Current Account.
Understanding our rates
Our car loan and hire purchase interest rates – between 8.45% APR (Annual Percentage Rate) and 8.95% APR depending on the type of loan – are some of the most competitive and consistent on the market.
Our loan rates are variable (our hire purchase interest rates are fixed). If your rate changes, your repayment amounts stay the same. So, if the rate rises during the loan term, you will have to make extra payments at the end of the term, and if the rate falls, you might pay off your loan sooner.
A representative example for you on a car loan:
A typical €15,000 four-year loan with a variable interest rate of 8.65% and 8.95% APR (Annual Percentage Rate), where the interest rate and APR does not vary during the term, has 48 monthly instalments of €369.26 and the total cost of credit (the total amount repayable less the amount of the loan) is €2,724.48.
A representative example for you on hire purchase:
A typical €15,000 four-year hire purchase agreement with a fixed interest rate of 8.45% APR (Annual Percentage Rate), where the interest rate and APR does not vary during the term, has 48 monthly instalments of €365.43 and the total cost of credit (the total amount repayable, including fees, less than the amount of the loan) is €2,616.83.
A representative example for you on a green personal loan:
A typical €15,000 four-year green personal loan with a variable interest rate of 6.25% and 6.40% APR (Annual Percentage Rate), where the interest rate and APR does not vary during the term, has 48 monthly instalments of €353.89 and the total cost of credit (the total amount repayable less the amount of the loan) is €1,986.72
What is the difference between a car loan and a hire purchase agreement?
A car loan is a variable rate personal loan to enable you to buy a used or new car. Car loans available from €1,000 to €75,000.
Hire purchase allows you to borrow money at a fixed interest rate to buy a used or new car. The bank retains security interest over the car until all repayments have been made. The car becomes yours when all the instalments due have been made & the purchase fee has been paid. Hire purchase is available for amounts of €10,000 to €60,000.
Can I apply for hire purchase on new or used cars?
Yes, you can apply for hire purchase for either new or used cars.
When will I receive a decision on my car loan application?
We endeavour to give you an instant decision on your car loan. Hire purchase timings will be advised when you apply. If your car loan application is referred to our lending team for review you will receive a decision within three business hours. Our business hours are 9.00 to 17.00 Monday to Friday, excluding bank holidays. Although we aim to provide you with a decision within three business hours, this may be extended for technical or other reasons. If you have provided us with your mobile phone number, we will text you once a decision is available. 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.
How soon will I receive the money?
Once we approve your loan and you request your money, we’ll send the money straight to your Current Account.
How to apply
Already an AIB customer
Apply through Internet Banking or the AIB App for loans from €1,000 to €30,000.
Online applications take just a few minutes to complete.
For larger loans or hire purchase options, apply by phone (0818 724 725) or in branch.
Not yet an AIB customer
You’ll need to apply by phone (0818 724 725) or in branch.
Use the calculator to see how much you could borrow.