Whether it be for personal or business reasons, taking a loan can be helpful if you find yourself a bit short.
So, if you’re on the hunt for the best loans in Ireland, look no further! In today’s review, we’ll be sharing our top picks complete with pros, cons, and even a short FAQs section at the very end.
But before we do our big reveal, let’s first discuss how much loans in Ireland cost.
How Much Do Loans in Ireland Cost?
Loans are a very personalized type of service. From fees to payment schemes, there is no one-size-fits-all answer.
Fees are usually collected in the form of a percentage of the total loan amount, but some firms charge a fixed fee.
We’ve gathered the general fees of our entries in the table below to give you a better idea of how much it’ll cost you.
Even so, you’ll still have to contact your future lender to discuss the exact cost of your loan.
The Best Loans in Ireland
Aside from searching high and low, we’ve chosen the best loans in Ireland based on the following factors:
Now that we’ve got everything settled, let’s head on to our entries!
1. Grid Finance
| CRITERIA | RATING |
| QUALITY OF SERVICE | ★★★★ (4/5) |
| APPLICATION PROCESS | ★★★★ (4/5) |
| FUND TRANSFER | ★★★★ (4/5) |
| FLEXIBILITY | ★★★★ (4/5) |
| REPAYMENT SCHEMES | ★★★★ (4/5) |
| LOAN CAPACITY | ★★★★ (4/5) |
| CUSTOMER SUPPORT | ★★★ (3/5) |
| COST | ★★★★★ (5/5) |
Established in 2013, Grid Finance focuses on providing short- to medium-term loans for SMEs.
We really appreciate how straightforward and quick their application process is. You can apply through their website by uploading all required documents and expect an offer within 48 hours.
Everything will take only 3 to 7 working days to set up. After that, you can expect the funds to be transferred to your account soon.
What’s more, they offer a flexible repayment scheme. A dedicated settlement account for the duration of your loan will be made where small collections will be done.
Repayments will be collected through a percentage of your daily card income or online payments. We appreciate how it’s tailored to your financial circumstance as it gives you enough room to repay while earning.
Another plus is they don’t charge an early repayment fee. This means that you won’t be fined for paying earlier than the agreed loan term.
If you need customer support, they have chat assistance and a query form on their website. Even so, we were disappointed they didn’t have more accessible customer service options.
Nevertheless, we’ve heard from past clients that they’re quite quick in responding to queries, so this may not be such a big concern.
Aside from borrowing, you can also earn while lending. This is a great feature for individuals who’d want to support small and medium Irish-owned businesses in their communities.
Pros
- Flexible repayments
- Quick application period and processing
- No early repayment fees
- No set-up charges
Cons
- Closed on weekends
- Limited customer support options
Customer Reviews
Good customer service
“I opened a grid account to lend a small amount to a friends business, 2 years later I am still lending and making more than the bank or post office will pay. Good customer service too, Micho always on hand to answer any questions I have because still new to all this. Will continue to lend on the grid” – Janice Kelly, Google Reviews
Very quick and efficient providers
“Very quick and efficient providers of finance to Irish SMEs. Excellent customer service as well – really provide a personal touch whether you’re a borrower or a lender” – Gary Grimes, Google Reviews
2. Capital Loan & Investment Society
| CRITERIA | RATING |
| QUALITY OF SERVICE | ★★★★ (4/5) |
| APPLICATION PROCESS | ★★★★ (4/5) |
| FUND TRANSFER | ★★ (2/5) |
| FLEXIBILITY | ★★ (2/5) |
| REPAYMENT SCHEMES | ★★★★ (4/5) |
| LOAN CAPACITY | ★★★ (3/5) |
| CUSTOMER SUPPORT | ★★★ (3/5) |
| COST | ★★★★ (4/5) |
If variety is one of your key considerations in choosing a loan, Capital Loan & Investment Society has a wide loan selection that you can repay through numerous payment schemes.
They have a speedy application process of only 1 to 3 working days. Once your membership has been approved, you can then apply for a loan and receive a decision the next working day.
You can apply for a loan via their website or even visit them at their Dublin office. We think this is quite convenient if you want some guidance throughout your application.
Unfortunately, transactions are processed from Tuesday to Saturday from 9:30am to 4pm only. Meaning, if you processed a transaction outside of these hours, it won’t be shown on your online account immediately.
On the same note, funds will reach the selected bank account the next working day if transactions are made before 1:30pm. If they’re made on Saturdays after 1:30, the selected bank won’t receive the funds until the following Wednesday.
This could be a deal-breaker for those in a rush whenever they make their transactions. We also think it definitely puts people at ease if they see their transactions reflected in near-real-time.
We also think it’s worth noting that €13,000 is the maximum loan amount. Hence, Capital Loan may not be a viable option if you’re in need of more funds.
On a brighter note, payments can be made through cheque, bank transfer, or even in cash. This convenience surely deserves a plus from us.
Pros
- Wide variety of loans
- Large payment selection
- Quick application period and processing
- No set-up charges
Cons
- Closed on Mondays and Sundays
- Transaction processing and fund reflections aren’t in real-time
- Maximum loan amount is €13,000
Customer Reviews
Application was quick and easy
“the loan application was quick and easy and took less than a day to process ,i was pleased with the whole process from start to finish, and the staff are alway,s pleasent and helpfull your,s truly stephen greene” – Stephen Greene, Google Reviews
Most friendly and helpful staff
“I have been with capital loan for a few year’s now and can say they are the most friendly and helpful staff always greet you with a smile keep up the good work 😀” – Margaret Murtagh, Google Reviews
3. Avant Money
| CRITERIA | RATING |
| QUALITY OF SERVICE | ★★★★ (4/5) |
| APPLICATION PROCESS | ★★★★ (4/5) |
| FUND TRANSFER | ★★★★ (4/5) |
| FLEXIBILITY | ★★★★ (4/5) |
| REPAYMENT SCHEMES | ★★★★ (4/5) |
| LOAN CAPACITY | ★★★★ (4/5) |
| CUSTOMER SUPPORT | ★★★ (3/5) |
| COST | ★★★★ (4/5) |
First known as MBNA and then Avant Card, this multi-award-winning consumer finance company is now known as Avant Money.
You can borrow €5,000 to €75,000 from their personal loans selection, all with varying terms for repayment depending on your choice of loan.
Particularly, for repaying loans for a car, education, and wedding purposes, they allow a maximum of 7 years to pay; home improvements to refinancing, 10 years; for funeral and medical expenses, 3 years; for insurance, 1 year; and for holidays, 2 years.
Unfortunately, they don’t offer loans for business, home purchases, and investment purposes.
When it comes to payment schemes, you can choose to repay in months or years. We think this is a plus if you’re sticking to a strict budget.
We also appreciate the convenience of automatic payments. Repayments are collected via direct debits according to your agreed payment scheme.
If you can repay sooner than the agreed term, they won’t charge you for it, which is a plus in our book.
You can easily apply online through their website by submitting the required forms. Their website also has a loan calculator that you can play around with to check how much it’ll cost you.
Pros
- Wide variety of loans
- No early repayment fees
- No setup charges
- Website has loan calculator
- Repayment can be done in months
Cons
- No loans for business, home purchase, and investment purposes
- Customer service is unavailable on Sundays
Customer Reviews
Very impressed with how quickly it was done
“Applied for a personal loan after reviewing options on Lending Tree. Avant was very quick on reviewing my application and walking me through the process to provide them with all the required extra documentation. After being approved the loan was direct deposited into my bank the next day and I am very impressed with how quickly it was done. All in all, this process was so much easier than I thought it would be and I would recommend this to anyone that I know that needs a personal loan.” – Kimberly, Consumer Affairs
Application process was easy and quick
“I applied for a personal loan from Avant when I was really struggling after I lost my husband. My world crashed, but Avant came to my rescue with high praise. The application process was easy and quick. They rushed to assist my needs and the payments were just right. They are the best in professional quality service and do their best to answer each/any questions you may ask easily. I enjoyed working with their company!” – Atha, Consumer Affairs
4. KBC Bank Ireland
| CRITERIA | RATING |
| QUALITY OF SERVICE | ★★★★ (4/5) |
| APPLICATION PROCESS | ★★★★ (4/5) |
| FUND TRANSFER | ★★★★ (4/5) |
| FLEXIBILITY | ★★ (2/5) |
| REPAYMENT SCHEMES | ★★ (2/5) |
| LOAN CAPACITY | ★★★ (3/5) |
| CUSTOMER SUPPORT | ★★★★ (4/5) |
| COST | ★★★★ (4/5) |
KBC Bank Ireland offers loan amounts ranging from €5,000 to €50,000 with a term of 1 to 5 years for their personal as well as car and home improvement loans.
Though 5 years may be quite limiting to some, they do offer up to 10 years for home improvement and other purposes. However, they don’t specify what kind of purposes these are so you’ll have to inquire.
We also appreciate the fact that they don’t have any additional charges. They don’t charge set-up or arrangement fees.
However, for early repayment fees, you’ll only avoid charges if the total amount you’re paying for is less than €10,000.
Since this is a bank, current account holders will be pleased to know that they offer a discount. This perk is a 1% discount on the APR of their loan rate.
Do keep in mind that repayment has to come from your current KBC account by direct debit if you plan on availing of this discount.
We were also surprised to see that they’re open every day and as late as 11pm. Even so, we were glad to see that their customer service is easily accessible.
But if you’d rather settle your concerns in person, they have several offices across Ireland that you can visit.
Pros
- No setup charges
- Open everyday
- Multiple offices
- Offers a discount for KBC account holders
Cons
- Inquiry needed for loans with 5+ years repayment
- Repayment fee for loans of more than €10,000
- Closed on weekends
Customer Reviews
Very happy with my experience
“I had my mortgage approved early December and part of the mortgage offer was €1500 cash back, I received this payment today without having to chase anyone for it. Delighted that it was as advertised and was paid so quickly. All other dealings with KBC so far have been good, I’ve had the odd few problems but staff are really helpful. Very happy with my experience with KBC to date.” – Carla Sharkey, Trust Pilot
No complaints here
“Great bank. Have all my accounts with them since danske left including current acc, mortgage, loan, credit card. App is great too. No complaints here” – Hilary, Trust Pilot
5. Bank of Ireland
| CRITERIA | RATING |
| QUALITY OF SERVICE | ★★★★ (4/5) |
| APPLICATION PROCESS | ★★★★ (4/5) |
| FUND TRANSFER | ★★★★ (4/5) |
| FLEXIBILITY | ★★★ (3/5) |
| REPAYMENT SCHEMES | ★★★★ (4/5) |
| LOAN CAPACITY | ★★★ (3/5) |
| CUSTOMER SUPPORT | ★★★★★ (5/5) |
| COST | ★★★★ (4/5) |
The Bank of Ireland (BOI) offers a variety of loans – personal, home improvement, car, student, and graduate loans.
It’s important to note that the loan term and the maximum amount varies depending on your chosen loan. Particularly, you can borrow as much as €65,000 for all their loans except for their educational loans.
For student and graduate loans they allow a maximum of €5,000. Meanwhile, you can borrow up to €14,000 for their post-graduate loans.
All their loans are payable for up to 5 years except for their home improvement loans which are up to 7 years.
Did we mention that you can also choose to defer your payments for the first 3 months (first 12 months for post-graduate loans)? This is a good option for those who are in a tight spot.
But here’s the tradeoff: you’ll end up paying more interest over the course of the loan term. Hence, if you do avail of this, we recommend that you think it over thoroughly.
On the brighter side, if you’re able to pay off your loans earlier than expected, you get to pay less interest. However, this isn’t applicable for educational loans.
If you have any concerns, their support hotline is only available until 5pm on weekdays and they’re closed on weekends.
However, if you’d rather settle things in person, they have a number of offices across Ireland that you can visit.
Pros
- Multiple offices
- Wide variety of loans
- Has option defer initial payments
- Has support hotline
Cons
- Closed on weekends
- All loans are payable for up to 5 years only (except for home improvement loans)
Customer Reviews
Really simple
“Bank of Ireland personal loans were fantastic. Pre screened me then released funds the next day. Really simple.” – Someboy, Smart Money People
Staff were so efficient
“I recently used the Bank of Ireland to take out a personal loan. The whole process was so simple and the staff were so efficient and actually did what they said they would do, for example phoned me back when they said they would. I would highly recommend Bank of Ireland to everyone.” – MummyUnicorn, Smart Money People
FAQs About Loans
And that concludes our list of the best loans in Ireland! We hope that our recommendations were able to help you pinpoint a loan best suited for your needs.
Know of any loans that deserve a spot on our list? Get in touch with us so that we can check them out ASAP.
On the lookout for other financing options? Why not check out our recommendations for the best car financing firms in Ireland?