How much do you want to borrow?
£1,000 £25,000Over how many months?
6 months 60 monthsMonthly Repayment
Total Interest paid
Arrangement Fee
Total amount paid
8.7% - 12.4%
9%
£1,000 - £25,000
Minimum Term 6 months
Loans from £1000 to £25,000 - 5 years
Direct Debit
5 - 10 working days
£65.00
Payment breaks for up to 2 months each year, reducing the amount of payments required to pay off the loan but increasing the monthly payment due.
Transferred into your bank account
No
53rd for APR of 423 loans in the UK (See Lender League Table By APR)
126th for Customer Satisfaction (See Customer Reviews)
Bank of Ireland offer a range of personal loans between £5,000 and £25,000. They are available throughout mainland UK, however, if you live outside of Northern Ireland then you will need to have had an account with them for 6 months and you must have a good credit history to be eligible.
You can apply online or over the phone with Bank Of Ireland. To apply online, you need to complete their online application form. After completing their online application form, they will contact you within two business days to discuss the loan with you. If accepted, your forms and loan agreement will be posted out to you. You will need to sign these and send them back with any further documentation they may require. They do a final assessment on your documents and the application to make their final decision. The money will arrive in your account within 3 - 5 days of them receiving the forms. If you already have a Bank of Ireland account, you may even receive a payout the same day of your application.
This is not going to be the best option for you if don't have an account with them and live outside of Northern Ireland. The interest is reasonable, unless you are asking for a small amount of money for a short term, but this will depend on the credit searches they perform. If you have poor credit (i.e. late payments, CCJs or defaults) it isn't worth applying because you will not get accepted. An arrangement fee is also charged which you don't get with many of the other major banks but if you negotiate a good APR you will make this straight back. They do offer two payment breaks a year which means if you are struggling they can offer you breaks from making payments.
|
Default Fees |
Default Fee - £25.00 |
|
Early Settlement Fees |
You must pay the total amount of the repayments you still owe under the agreement (may be reduced by a rebate) |
|
Late Payment Fees |
Failed Direct Debit - £28.50 |
|
Arrangement Fee |
£65.00 |
Average Customer Review:
(4 customer reviews)
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Accepted after 5 minutes
Lloyd, Clacton-on-sea
1 year ago
After reading some reviews I wasn't very sure whether to go with Bank of Ireland or not, but I did and I got accepted by email 5 minutes after I completed the form. I phoned them and was offered a great rate of 10.9 APR. My paperwork arrived tuesday morning, sent it back that day and had money in my account by the end of the week.
Avoid
Roisin,
1 year ago
The Bank of Ireland are completely incompetent. Without going a rant - time and time again I have to ring them to try and fix their mistakes (the latest one being the 8th)!
Online service a pain!
Bruno, London
1 year ago
Everything is so convoluted and complicated, they take ages to do anything and everything it seems, requires to send you a letter first. Operating with the Online system is several times slower than going to the bank directly. It's one of the worst web applications I ever seen, probably the worst bank web application and it is the worst bank I've ever dealt with.
Dire Online Service
Dean, Gravesend
1 year ago
I cannot believe how bad this bank is. Mistakes galore and an on-line banking system that would seem to have been written by a five year old it is so cumbersome. I moved a business account recently to this bank as well for better terms and cannot wait to move back out again even though it has cost a considerable sum to move in the first place.
Bank of Ireland, Bow Bells House, 1 Bread Street, EC4M 9BE
0800 085 0444
