The Best Loans in Ireland

Compare the best options on the market and choose the one which best adapts to your day to day needs.

Further Below: Our Guide To Loans in Ireland, Everything you need to know.

1. Avant Money

  • Flexible and big loans of up to €150,000
  • Attractive interest rates of 5.9% APR
  • Fast application process
  • Long repayment terms of between 3 and 10 years
  • Open for any purpose
  • Lax eligibility criteria
  • The loan limit grows with timely repayments
  • Excellent loan conditions

2. KBC Bank

  • Loans of up to €120,000
  • Friendly interest rates of 6.3% APR
  • Flexible repayment terms of up to 120 months
  • Available to both account holders and non-holders
  • Available to clients with income 
  • Few additional costs
  • Excludes insurance fees

3. Allied Ireland Banks

  • Big loan amounts of up to €100,000
  • Fixed and attractive interest rates of 6.4% APR
  • Favorable repayment periods of between 36 and 120 months
  • Online app for first loan application
  • Excellent loan conditions
  • Fast processing of the loans
  • Eligible to clients with income

Loans in Ireland, All You Need To Know:

Thinking of taking out a loan in Ireland but wondering how to go about it? Hang tight to learn everything about loans in Ireland including what to consider before hiring these loans and which offer is best for you.

Quick Summary:

  • Online mini loans are a quick source of money giving up to €500 to new clients
  • They come in handy during small economic contingencies
  • Their repayment happens once and after one month 
  • Through online application, one gets funds without visiting the entity
  • The loan funds are processed in a few hours
  • Online mini loans are only taken out when the borrower is sure of their ability to reimburse them without straining

What are loans and how do they work?

Loans are financial instruments that grant us a certain amount of money and require us to repay it later under a set of conditions. They are granted by different lending institutions which curate different types of offers for different purposes. The borrower, hence, is supposed to know which offer they require and all the terms and conditions set for them.

In Ireland, the loan conditions are determined by the entity and regulated by the Bank of Ireland. Hence, the borrower can access the information about the loan before signing up for it. Loans differ in terms of their purposes, cost, their duration, etc. For instance, a mini loan only lasts a month while a mortgage loan or student loan lasts for many years. 

It’s important to note that loans, once taken out, have to be reimbursed with the observance of the agreed-upon terms and conditions. It’s therefore advisable to read through contractual information before you get the funds.

Ireland’s lending rate is currently operating beyond ECB’s required 2%.

What we should know about mini-credits

  • They come in handy during economic emergencies
  • They grant small amounts for new clients (up to €500)
  • They finance us for one month
  • The processing of the funds takes minutes
  • They are more expensive than other loan types due to their high interest rates

When is it advisable to apply for loans?

An online mini loan is a financial instrument that offers small amounts of money. They are best taken out during economic contingencies due to their fast nature of application and concessions. Taking out this type of credit will require a full understanding of how they work. 

YES, it is advisable to apply for mini-loans if/if not:

  • The need comes once
  • You’re in need of a quick financial injection
  • You are able to repay the loan comfortably
  • You do not solicit on a regular basis
  • You know how much money you’ll need to repay
  • You’re fully aware of the terms and conditions of the loan
  • The need comes regularly
  • Your financial need is not urgent
  • You are not sure of your ability to repay the loan
  • You would like to take out the loan regularly
  • You don’t know how much money in total you’ll need to return
  • You’re not fully aware of how the loan works

It’s your obligation to repay a loan once you take it out. Hence, you want to make sure you’ve hired the best option using the above parameters.

How much money can I get with mini-credits?

Instant mini loans are best taken out to solve small economic emergencies. Therefore, the amounts of these loans are designed to be small at the first application. The amount and other conditions tend to change depending on our loyalty levels to the entity.

New Clients:

Up to 500 euros

Existing Clients:

Up to 1,000 euros

Since these loans are given out under lax conditions, their amounts tend to be small for new clients. This happens also because the entity and client lack a background, and hence, the entity is not sure of the loyalty of the client to repay the loan. However, the loan conditions may improve after several on-time repayments.

Some lenders tend to increase the loan amounts and reduce the interest rates for loyal customers.

Requirements to access loans

As aforementioned, the requirements for granting online mini loans are a little laxer than other loan types. However, failure to meet the basic requirements below will have your application rejected:

  • Be above 18 years. Some entities provide loans to applicants who are 21 years and above
  • Have a stable source of income. This will show your ability to repay the loan
  • Maintain a good credit history without a negative score on Irish Credit Bureau
  • Have an Irish residence permit, either permanent or temporary

The above requirements may be a little different with some entities. While others require a minimum age of 18 years, others require a minimum age of 21 years. 

Documents to be submitted when requesting a loan

After filling out the application form, entities will require documents showing that you meet their spelled-out requirements. 

Below are the documents you’ll need:

  • Valid ID card or passport
  • The last two or three paychecks or income received
  • Bank statements showing the holder and account number

However, some lenders will use online verification methods to make the application process faster, reducing the pressure of sending paperwork.

How to take out loans online step by step?

Steps to contract a mini loan

  1. Choose the amount and term
  2. Fill in the form
  3. Send the documentation
  4. Read and sign the contract

The process of applying and getting online mini loans is faster than on other loan types. Since the application process is completely online, the borrower will only take 4 steps to get the money:

  1. Request the loan and select the amount of time you intend to repay it. 
  2. Fill out all the provided blank fields with accurate personal data – name and surname, ID, date of birth, mobile, and address, among others.
  3. The lender will use the information to verify your application through an online verification system and assess your financial status. If all the information corresponds with your financial records and bank statements, the lender will go ahead to verify your application.
  4. The lender will send you contractual information which you’re required to read through carefully, noting down all the conditions of the loan before placing your signature through a digital signature.

After you send back the contractual documents, the lender will sign and process the funds. You’ll receive the funds in your account after a few moments.

About this page, our methodology

What this page is for: we take time to outsource the best and most relevant information about finance and all you need to know to take out loans like a pro. Hence, we ensure you’re satisfied with the financial product you take out and that it is the best available option for you.

Source: the information regarding finance, the types of credits, their current lending rates, and their regulations have been drawn from the Irish Law on consumer credits, the Bank of Ireland, and other reliable reference portals.

Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.

About Us: FUNDGECKO is an online comparator website designed to help our clients who know less about consumer credits. We walk you through the whole nine yards, allowing you to not only compare loan offers but also know how to end up with an offer that’s most consistent with your financial situation.
Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.

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