Updated September 28, 2026 · BorrowCue Editorial Team
Bank of Ireland vs S-Pankki
Bank of Ireland vs S-Pankki: the differences
| Compare |  Bank of Ireland |  S-Pankki |
|---|---|---|
| Initial rate | 3.1%Lower | 3.6% |
| Fixed period | 4 years | 5 to 10 yearsHigher |
| Maximum loan to value | 90% | 95%Higher |
| Product fee | €150 to €250Lower | €300 |
Same on both: APRC (3.8%), Purpose (Purchase, Remortgage, First time buyer, Buy to let, Equity release), Lender type (Direct lender).
We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings.
Key differences
- Bank of Ireland scores higher overall: 9.4 vs 9.0.
- Founded is lower at Bank of Ireland: 1783 vs 2006 to 2007.
- Bank of Ireland is licensed in 1 more country.
- Bank of Ireland is available in 1 more country.
- Initial rate is lower at Bank of Ireland: 3.1% vs 3.6%.
- Product fee is lower at Bank of Ireland: €150 to €250 vs €300.
- Fixed period is higher at S-Pankki: 5 to 10 years vs 4 years.
- Maximum loan to value is higher at S-Pankki: 95% vs 90%.
- Support channels: only Bank of Ireland offers Chat, Community.
Our verdict on each
Bank of Ireland
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%.
S-Pankki
S-Pankki suits a Finnish borrower who wants to stretch a mortgage against as much of a property's value as possible and holds an account there. The trade-off is price: the mortgage starts at 3.6%, while the personal loan carries an APR of 25.005%.
Score breakdown
| Area | Bank of Ireland | S-Pankki |
|---|---|---|
| Cost | 9.3HigherPersonal loan fee is 0 EUR - no arrangement fee and variable rate of 7.1% to 8.9% sits under the 12% site median. | 9.1Origination fee is 0 EUR and early repayment is free, but the S-Laina APR of 25.005% is high. |
| Offer | 9.2HigherFixed mortgage hold is 4, lower than the 10 median fixed period. | 9.1A fixed stretch of 5 to 10 and a maximum loan to value of 95% suit buyers with limited deposits. |
| Trust | 9.6Higher | 8.9 |
What it costs in practice
200,000 over 25 years, first year
Bank of Ireland
€11,656.29 to €11,756.29
€11,506.29 + 1 × €150 to €250
S-Pankki
€12,444.07
€12,144.07 + 1 × €300
Bank of Ireland costs €787.78 less.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Licences and countries
| Country | Bank of Ireland | S-Pankki |
|---|---|---|
| Finland | Not confirmed | |
| Ireland | Not confirmed | |
| United Kingdom | Not confirmed |
Additional countries for Bank of Ireland: 2. Additional countries for S-Pankki: 1.
Pick Bank of Ireland if, pick S-Pankki if
Pick Bank of Ireland if trust, initial rate, and product fee matter most.
Pick S-Pankki if fixed period and maximum loan to value matter most.
If neither fits
Sofkredit has fixed period at 0.5 to 20 years, against 4 years for Bank of Ireland and 5 to 10 years for S-Pankki.
Sofkredit reviewHow they place
| Ranking | Bank of Ireland | S-Pankki |
|---|---|---|
| Personal loans | 258 of 1932 | 727 of 1932 |
| Mortgages | 42 of 719 | 262 of 719 |
| Remortgage deals | 26 of 351 | 190 of 351 |
| Equity release | 2 of 32 | 14 of 32 |
Every fact side by side
| Fact | Bank of Ireland | S-Pankki |
|---|---|---|
| Legal entity | Bank of Ireland Group plc | S-Pankki Oyj |
| Headquarters | Ireland | Finland |
| Founded | 1783Lower | 2006 to 2007 |
| Support channels | Phone, Chat, Help centre, CommunityCovers more | Phone, Help centre |
Loans
| Fact | Bank of Ireland | S-Pankki |
|---|---|---|
| APR | 7.1% to 8.9%Lower | 25.005% |
| Loan amount | €2,000 to €75,000Higher | €5,000 to €50,000 |
| Term | 12 to 60 months | 12 to 144 monthsHigher |
| Arrangement fee | 0 EUR - no arrangement fee | 0 EUR |
| Credit check | Hard | Hard |
| Funding time | 24-48 hours after signed credit agreement | Paid to the account given in the application after signing the loan agreement; customers report it on the same day |
| 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 | S-Laina of 5 000 EUR over 12 months at the highest possible rate: monthly payment 469.24 EUR, 5 630.88 EUR paid in total |
| Features | Not confirmed | Credit line |
| Rate type | Variable | Variable |
| Free early repayment | Yes | Yes |
| 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 | S-Laina: at least 21 years old, Finnish personal identity code, permanently resident in Finland, regular gross income of at least 1 200 EUR per month, no registered payment defaults, existing S-Pankki customer with an S-Tili account |
| Origination fee (%) | 0% | Not confirmed |
| Loan types | Personal, Car, StudentCovers more | Personal |
| Credit needed | Not confirmed | Fair |
| Use cases | Not confirmed | Home improvement |
Where each stands against the rest
| Fact | Bank of Ireland | S-Pankki | Median |
|---|---|---|---|
| Initial rate | 3.1%lowest quarter | 3.6%below the median | 4.425% |
| APRC | 3.8%lowest quarter | 3.8%lowest quarter | 5.04% |
| Fixed period | 4 yearsbelow the median | 5 to 10 yearsat the median | 10 years |
| Maximum loan to value | 90%at the median | 95%above the median | 90% |
| Product fee | €150 to €250above the median | €300highest quarter | €0 |
Median across 238 listed lenders.
Pros and cons
Bank of Ireland
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
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
S-Pankki
Pros
- A maximum loan to value of 95% lets a buyer stretch closer to the full value of the property.
- The mortgage initial rate of 3.6% sits well below Sofkredit's 8% to 14%.
- The rate is fixed for 5 to 10, so the monthly payment is known in advance.
Cons
- The S-Laina APR reaches 25.005% at the top of the range, and the representative example shows a total repaid well above the amount borrowed, so a slow repayment costs a lot of rate.
- The S-Laina rate is variable, so the payment can rise when the base rate moves and there is no fixed period to hold it steady.
- The credit search is hard, and only 20.4% of lenders on the site rely on a soft prequalification instead.
Who each suits
Bank of Ireland
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
S-Pankki
Who it suits
- A buyer with limited savings, since the maximum loan to value of 95% is what makes a small deposit workable.
- An existing S-Pankki customer: the S-Laina asks for an S-Tili account, a Finnish personal identity code, permanent residence in Finland and no registered payment defaults.
- A borrower who wants the rate held at 3.6% for 5 to 10 and then chooses again.
Who should look elsewhere
- Not for a reader shopping on the lowest headline rate: Prestalo lists 2.36% and Creditilia ES lists 4%, both under S-Pankki's 3.6%.
- Not for someone who needs a larger unsecured loan than the S-Laina amount of €5,000 to €50,000, or a lighter touch than a hard search.
- Not for a rate comparison that treats a wide range as more choice: Sofkredit's 8% to 14% sits far above S-Pankki's 3.6%, so that is the costlier direction to move in.
Current offers
Bank of Ireland
Current offer
Bonus
Cashback Plus on new mortgage drawdown: Up to 3% of mortgage drawdown (2% after drawdown, 1% after 5 years)
For first-time buyers, movers and switchers drawing down a new mortgage on qualifying fixed rates. Not available on High Value Mortgage fixed rates or standard variable rate; additional 1% not available for buy-to-let or equity release. Terms and conditions apply.
Source, checked September 26, 2026
S-Pankki
Current offer
Bonus
Mortgage without delivery fee: 0 EUR delivery fee (normally at least 300 EUR)
Valid for new mortgage applications made 14.9.-31.10.2026: first-home buyers, home movers and mortgage transfers to S-Pankki
Source, checked September 26, 2026
Country by country
| Country | Bank of Ireland | S-Pankki |
|---|---|---|
| Finland | No | Yes |
| Ireland | Yes | No |
| United Kingdom | Yes | No |
Questions about each
Bank of Ireland
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.
S-Pankki
How much does a S-Laina cost to borrow?+
The quoted APR is 25.005%, which is the rate at the top of the range rather than the everyday price. The representative example shows the smallest loan over the shortest term paid at that highest rate, so the total repaid comes to clearly more than the amount borrowed. The origination fee is 0 EUR, so arranging the loan adds nothing to the first payment.
What does the mortgage cost in fees?+
The mortgage carries a product fee of €300, so unlike the S-Laina, where the origination fee is 0 EUR, taking out a home loan is not free to arrange. The annual percentage rate on the mortgage is 3.8%, which spreads the cost of borrowing over the fixed period rather than showing the headline rate alone.