Bank of Ireland review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Bank of Ireland suits borrowers in the Republic of Ireland who want a mortgage and a personal loan from one long established bank, with a variable personal loan rate starting at 7.1% to 8.9%.

Key facts

Best for
Existing current account customers in the Republic of Ireland wanting a mortgage plus a personal loan from one bank.
Initial rate
3.1% (Source, checked September 26, 2026)
APRC
3.8% (Source, checked September 26, 2026)
Fixed period
4 years (Source, checked September 26, 2026)
Maximum loan to value
90% (Source, checked September 26, 2026)
Product fee
€150 to €250 (Source, checked September 26, 2026)
Purpose
Purchase, Remortgage, First-time-buyer, Buy-to-let, Equity-release (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Legal entity
Bank of Ireland Group plc (Source, checked September 26, 2026)
Headquarters
Ireland (Source, checked September 26, 2026)
Founded
1783 (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre, Community (Source, checked September 26, 2026)
Official website
bankofireland.com

Loans

APR
7.1% to 8.9% (Source, checked September 26, 2026)
Loan amount
€2,000 to €75,000 (Source, checked September 26, 2026)
Term
12 to 60 months (Source, checked September 26, 2026)
Arrangement fee
0 EUR - no arrangement fee (Source, checked September 26, 2026)
Credit check
Hard (Source, checked September 26, 2026)
Funding time
24-48 hours after signed credit agreement (Source, checked September 26, 2026)
Representative example
Personal loan of EUR20,000 over 5 years at 6.9% variable, 7.1% APR, monthly repayment EUR394.71, cost of credit EUR3,682.60 (Source, checked September 26, 2026)
Rate type
Variable (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
18 years of age or over, resident in the Republic of Ireland, and an existing Bank of Ireland current account customer registered for 365 online to apply online (Source, checked September 26, 2026)
Origination fee (%)
0% (Source, checked September 26, 2026)
Loan types
Personal, Car, Student (Source, checked September 26, 2026)
Legal entity
Bank of Ireland Group plc (Source, checked September 26, 2026)
Headquarters
Ireland (Source, checked September 26, 2026)
Founded
1783 (Source, checked September 26, 2026)
Support channels
Phone, Chat, Help-centre, Community (Source, checked September 26, 2026)

Apps and profiles

Get the app
App Store
Elsewhere
WikidataWikipediaLinkedInX

Pros and cons

Pros

  • No arrangement fee on the personal loan: 0 EUR - no arrangement fee
  • Variable personal loan rates of 7.1% to 8.9%, below the 12% site median
  • A direct lender rather than a broker, so you deal with the lender itself
  • Free early repayment on the loans, so overpayments cost nothing
  • Fixed mortgage rate held for 4 and an initial rate of 3.1%

Cons

  • Applying online needs an existing current account with a waiting period of registered online use
  • A hard credit check applies, while 72.7% of lenders on the site also use one
  • The fixed mortgage period of 4 sits below the 10 median for mortgage products
Bank of Ireland

Ready to try Bank of Ireland?

Scored 9.4 / 10 by BorrowCue.

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Who it suits

  • Existing Bank of Ireland current account customers in the Republic of Ireland looking for a mortgage
  • Borrowers who want a personal loan with no arrangement fee and free early repayment
  • People who prefer dealing with the lender directly rather than through a broker

Who should look elsewhere

  • Borrowers wanting a long fixed mortgage period, since 4 is short against the market
  • People without an existing Bank of Ireland current account, who cannot apply online
  • Anyone wanting a fixed rate on a personal loan, because variable applies

Regulation

Bank of Ireland is a direct lender, so applications and the credit decision run through the bank rather than a broker. It is regulated in Ireland by the Central Bank of Ireland, with Prudential Regulation Authority cover in the United Kingdom. Because the lending is direct, the paperwork, the credit check and the offer all come from the same firm. For readers weighing safety, that means fewer parties between an application and a decision, and a single complaint route. Broker-led alternatives pass the application on before the lender ever sees it, which adds a step and a place for a query to stall.

Rates and costs

On the personal loan, the variable rate runs 7.1% to 8.9% and the arrangement fee is 0 EUR - no arrangement fee, so there is nothing up front to pay for borrowing. The stated representative example shows a personal loan with a variable rate and a monthly repayment, with the cost of credit given on that example. That example is the clearest guide to the real cost, since it sets out the monthly repayment and the cost of credit on a stated loan and term rather than a headline rate alone. Early repayment is free, which matters most if you plan to clear the balance early. For mortgages, the initial rate is 3.1% and the headline figure is an APRC of 3.8%. Among personal loans on the site the median is 12%, so this rate sits below the middle of the field.

Borrowing limits

Mortgages run to a maximum loan to value of 90%, which matches the 90% median across the site and sits below the 95% upper quartile. That means the largest deposit most lenders ask is the largest one this lender asks. The rate is held fixed for 4, which is shorter than the 10 median fixed period for mortgage products and well under the 20 upper quartile. Personal loans run €2,000 to €75,000 over 12 to 60, with one lender covering both the home and the loan attached to everyday spending. Mortgage lending covers purchase, remortgage, first time buyer, buy to let and equity release.

Where it sits among rivals

The APRC of 3.8% places Bank of Ireland at 35 of 145 brands ranked on that measure, which is a middle position rather than the sharpest end of the field. The initial rate of 3.1% ranks at 60 of 297, so this lender sits neither cheapest nor dearest on entry pricing either. The maximum loan to value of 90% ranks at 74 of 293, close to the 90% median and below the 95% upper quartile. The weaker spot is the fixed period, where 4 ranks at 183 of 259, towards the lower end of that ranking. Against the alternatives named here, Creditilia ES and Prestalo both publish a lower initial rate, so a reader chasing the entry rate alone has elsewhere to look.

Safety and regulation

The bank is supervised in Ireland by the Central Bank of Ireland, and the Prudential Regulation Authority applies in the United Kingdom. Money placed with the bank is deposits rather than an investment, so the treatment of it depends on the terms of the account rather than on market performance. A hard credit check means a decline or a smaller offer is recorded on your file, which is worth weighing before you apply. The account does what the bank says it does: no broker sits in the middle, early repayment is free, and a signed credit agreement leads to funding.

Who runs it

The lender is Bank of Ireland Group plc, headquartered in Ireland and founded in 1783, so it is one of the oldest banks on the site rather than a new entrant. It lends in its own name as a direct lender, and offers personal, car and student loans. Support runs through phone, chat and help centre, which covers phone and chat alongside a help centre and a community forum. Help is run in house, so a question about a mortgage or a personal loan goes to the same organisation that made the decision. The firm behind the mortgages is the same firm behind the loan, which keeps one set of terms and one contact point in view.

How Bank of Ireland compares

Where Bank of Ireland is available

Available
Ireland, United Kingdom
Licence in Ireland
Central Bank of Ireland, checked September 26, 2026
Licence in United Kingdom
Prudential Regulation Authority, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What is the arrangement fee on a Bank of Ireland personal loan?+

The personal loan carries 0 EUR - no arrangement fee, so there is no arrangement fee to pay when the loan is taken. The percentage fee is 0%. The variable rate behind the loan runs 7.1% to 8.9%, and early repayment is free if you want to clear the balance sooner.

How does the Bank of Ireland personal loan compare with the site median?+

The variable rate of 7.1% to 8.9% sits below the 12% median APR across lenders on the site. Borrowing runs €2,000 to €75,000 over 12 to 60, which is a larger ceiling than the €876.96 median amount on the site.

Who regulates Bank of Ireland?+

In the Republic of Ireland the regulator is the Central Bank of Ireland, and in the United Kingdom it is the Prudential Regulation Authority. The lending itself is done by Bank of Ireland Group plc as a direct lender, so there is no broker between the application and the decision.

What mortgage rate can I get from Bank of Ireland?+

The initial rate is 3.1% and the headline figure is an APRC of 3.8%, against a 4.9% median on the site. The rate is fixed for 4, which is shorter than the 10 median fixed period in the mortgage ranking.

How much can I borrow against my home?+

The maximum loan to value is 90%, matching the 90% median on the site. It ranks at 74 of 293 brands. The largest deposit the lender asks is therefore the same as the market middle rather than an outlier.

Who can apply for a Bank of Ireland loan?+

You need to be an adult, resident in the Republic of Ireland, and an existing Bank of Ireland current account customer. Applying online needs a waiting period of registered online use on that account. The application runs a hard credit check, so the result stays on your file.

How long does it take to get the money?+

Funding comes 24-48 hours after signed credit agreement once a credit agreement is signed. Personal loans of €2,000 to €75,000 are available, and the lender covers personal, car and student borrowing as a direct lender.

Can I pay off a Bank of Ireland loan early?+

Yes, early repayment is free, so clearing the balance sooner does not attract an extra charge. Support runs through phone, chat and help centre, so a question about a fee or an overpayment goes to the bank that set it.

Sources

  • bankofireland.com/mortgages checked September 26, 2026

    Backs: Purpose

    “First-time buyer ... Moving home ... Switching mortgage ... Buying to let ... Self-build ... Equity release”

  • en.wikipedia.org/wiki/Bank_of_Ireland checked September 26, 2026

    Backs: Founded

    “Founded 5 April 1783”

  • personalbanking.bankofireland.com/borrow/loans checked September 26, 2026

    Backs: Free early repayment, Funding time, Lender type, Loan types

    “There are no charges for repaying your variable rate loan early.”

  • personalbanking.bankofireland.com/borrow/loans/personal-loan checked September 26, 2026

    Backs: Loan amount, APR, Credit check, Eligibility, Arrangement fee, Origination fee (%), Rate type, Representative example, Term

    “Borrow between EUR2,000 and EUR75,000 and repay your loan weekly or monthly over 1 to 5 years”

  • personalbanking.bankofireland.com/borrow/mortgages/inform... checked September 26, 2026

    Backs: Maximum loan to value, Product fee, Licences

    “Maximum loan is generally 3.5 times gross annual income (4 times gross annual income for first-time buyers) and 90% of the property value.”

  • personalbanking.bankofireland.com/borrow/mortgages/mortga... checked September 26, 2026

    Backs: APRC, Fixed period, Initial rate

    “First Time Buyer | A | 4 Year HVM BER A | fixed | 3.1 | *APR 3.8”

  • bankofireland.com checked September 26, 2026

    Backs: Headquarters, Legal entity

    “Bank of Ireland Group plc is a public limited company incorporated in Ireland, with its registered office at 2 College Green, Dublin”

  • bankofireland.com/help-centre/contact-us checked September 26, 2026

    Backs: Support channels

    “Our new webchat service is now available to answer queries related to your account. This is available in ROI only ... Calling from within Ireland: 0818 365 365”

Compiled from 8 source pages, checked September 26, 2026. We did not open an account.

Bank of Ireland

Bank of Ireland

Existing current account customers in the Republic of Ireland wanting a mortgage plus a personal loan from one bank.

9.4/10See alternatives

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