Green Personal Loans

Our new Green Personal loan offers you a lower rate when you borrow for something green, such as solar panels, energy-efficient heating controls or plug-in hybrid vehicles. This loan is part of our pledge to do more to help our customers move to a low-carbon economy.

Here’s what you need to know

  • You can borrow between €3,000 and €30,000, apply on the AIB app. You will need to spend 50% or more of the money on a green initiative (see the list below).

  • This loan is offered with a lower rate of 6.4% APR (Annual Percentage Rate).

  • Loan terms up to five years.

  • Set your own repayment schedule: weekly, fortnightly or monthly.

  • There are no penalties if you ever decide to make an extra repayment or repay your loan earlier than planned.

 

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.

 

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What sort of thing can you borrow for?

 

  • Wall, attic and floor insulation.

  • Window and door upgrades or replacements.

  • Ventilation systems.

  • Renewable energy systems, including heat pumps and solar panels.

  • Sustainable water systems.

  • Boiler upgrades and pipe insulation.

  • Installation of energy efficient heating controls.

  • Battery electric or plug-in hybrid electric vehicles and home charger units.

 

 

How it works

A lower rate for going green

When you apply for this loan please apply on our app. You’ll be asked to include evidence of your purchase, which should be at least 50% green by uploading a quote or invoice within your application.

 

Our interest rates are some of the most competitive and consistent on the market and this is our lowest personal loan rate– at 6.25% and 6.40% APR. However, our rates are variable. 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.
 

Note that Green loans are not available to top up existing loans, car hire purchases or finance agreements.

 

A representative example for you:

A typical €10,000 five-year Green loan with a variable interest rate of 6.25% and 6.40% APR (Annual Percentage Rate), where the APR does not vary during the term, would have 60 monthly instalments of €194.41 and the total cost of credit (the total amount repayable less the amount of the loan) would be €1,664.60.

How to apply

We’re taking applications for a Green personal loan through the AIB app. You can download the AIB app on your device’s app store.

 

   

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Common questions

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    How much can I borrow?

    Borrow between €3,000 and €30,000, as long as you intend to spend 50% or more of the loan amount on something green.

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    What can I provide as evidence of my purchase?

    You need to upload a quote or invoice of your green item to the AIB app with your application.

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    Can I buy a second-hand electric vehicle?

    You can buy a second-hand electric vehicle with proof from a dealership.

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    How soon will I receive the money?

    As soon as we approve your application, we will transfer your money to your AIB current account.

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Regulatory information

Lending criteria, terms and conditions apply. Personal loans are available to over 18s only. Subject to approval. Security may be required.


The Green Personal Loan is not available to non AIB customers.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.