Personal Loan for Home Improvement

We all have that thing we’d love to do like put in a new kitchen, extend our house, build that treehouse for the kids or maybe even plan those upgrades to our home. Renovations can be stressful but getting the finance doesn’t have to be. Whatever you’re planning you can turn into reality with a home improvement loan from us. Why wait? Loans from €1,000 approved within 3 hours.

 

* 3 hour loan decision applies to fully completed new personal loan applications processed within 3 hours 9am-5pm, Mon-Fri excl. bank holidays. Loans from €1,000-€30,000. Excludes applications: to restructure or clear existing AIB credit facilities; received through Branch and referred to a lender for review, from customers in financial difficulty; for Student and First loans; applications through Business Centres; or where total borrowings exceed €100,000 (excluding Home Loan debt up to €600,000). 

Home Improvement Loan Information

  • Apply online, in branch or by phone for amounts from €1,000 - €30,000. For amounts over €30,000 and up to €75,000 or joint applications, you can apply in your branch or by phoning us on 1890 724 724. The people at your branch or our phone banking team can help.

  • Loan terms from 1 to 10 years, up to €50,000. For terms longer than 7 years and where the amount sought is greater than €30,000, we’ll need to see more information from you. See below for more on this.

  • Our rates are competitive for new loans with our standard lending rate at 8.95% APR up to  €50,000. For loans over that amount, contact your local branch or call 1890 724 724.  

  • Choose from weekly, fortnightly or monthly repayments

  • Scheduled flexible repayments - You can apply for a repayment schedule that will suit you, such as planned repayment holidays, like taking a break from your repayments at Christmas or summer time. Scheduled flexible repayment options may affect the amount and/or term of the loan

  • No-penalty if you make an extra repayment so if you save money from work which reduces your energy usage; you can pay this into your loan and repay it more quickly. If you are eligible for a grant from SEAI you can arrange to have your grant paid directly into your loan account.

  • If you are a Student Plus account holder and looking for a Reduced Rate Loan, please call our Student & Graduate Centre on 1890 788 336 (lines are open 8am to 9pm Monday – Friday and Saturday 9am to 6pm). Or, you can apply through your local branch.

  • If you wish to restructure an existing with us, or your clear your credit card, or overdraft, please contact your local branch to make an appointment with one of us who will go through your application with you.

Additional documentation required for terms over 7 years

Finance for home improvements must be eligible for:

a) the Home Renovation Incentive (HRI) scheme or,
b) the Sustainable Energy Authority Ireland (SEAI) Better Energy grant schemes for homes or
c) any grant-aided home improvements scheme or
d) any combination of the above

Costings/invoices must be provided upfront, to support the application.

For grant-aided schemes, evidence of approval for grant funding must be provided upfront.

How much can you borrow for your Home Improvement?

The amount you can borrow is based on your capacity to make regular repayments. It's important not to overstretch your payment and to consider the possibility of unexpected expenses.

 

The interest rate on our personal loan is variable and may change. However, your repayments stay the same, so if interest rates rise during the loan term, you will have to make some extra payments at the end of the term. If the rate on your loan falls, you may pay off your loan earlier. You can pay back your loan early or making unscheduled, additional repayments through your branch or Internet Banking at any time with no penalty.

 

Depending on your circumstances and needs, an AIB Top-Up Mortgage may also be an option for you to consider.

Home Improvement Loan Calculators

Please use our calculators below which help you:

  1. Work out how much a monthly repayment would be

  2. Find out how much you may be able to afford

1. Loan Repayment Calculator

Get a Quick Quote for a Personal Loan


  • Select term(months)..
  • 12
  • 24
  • 36
  • 48
  • 60
Select term(months)
Calculate
Recalculate
Monthly Repayments:
Total amount repayable:

Click here to apply now

Note: This information is provided for illustrative purposes only. It does not constitute a contract. We are not recording and will not use the information quoted by you in our calculators unless it is being provided as part of a product application. The results are based on the current offered rate for Personal Loans, which is variable. The total amount repayable is based on the assumption that the interest rate remains unchanged for the duration of the loan term.

For loan amounts greater than €50,000 contact your Relationship Manager or local branch.

Our Home Improvement Loan Rates and Repayments

 

5 years

7 years

10 years

€10,000

€204.99

€158.35

€124.11

€20,000

€409.08

€316.70

€248.22

€30,000

€614.96

€475.05

€372.32

€40,000

€819.95

€633.40

€496.43

€50,000

€1024.93

€791.74

€620.53

 

A typical €10,000 five year variable interest rate loan will have monthly repayments of €204.99 Interest Rate 8.65%, APR (Annual percentage Rate) 8.95%. If the APR does not vary during the term of the loan the total cost of credit of this loan i.e. total amount repayable less the amount of the loan, would be €2,299.40. The APR is based on our Variable ‘A’ Loan Rate and amount borrowed.

2. Loan Affordability Calculator

With this handy loan calculator you can get an estimate of how much you could borrow with a Personal Loan - Please click here

Need to talk to us about Home Improvement Loan? You can…

Help & Guidance

Information on your distance contract
AIB strongly recommends that before purchasing this product you read the Important Information on your Distance Contract.

Help Centre
For service please visit our Help Centre.

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.

Other Information

Some of the links above bring you to external websites. Your use of an external website is subject to the terms of that site.

Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. Security may be required. A typical €1,500 one year loan with a variable interest rate of 8.65% and a 8.95% APR (Annual Percentage Rate), where the APR does not vary during that term, would have monthly repayments of €130.48 and the total cost of credit (the total amount repayable less the amount of the loan) would be €65.76.

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