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Find the Best Personal Loan: Fixed vs Variable Rates
Compare leading loan options for different needs and budgets
Quick Picks
Best overall: PTSB Personal Loan.
Best budget: Avant Money Personal Loan.
Best for digital borrowers: Revolut Personal Loan.
Fixed Rate Options
For those who prioritize stability, fixed-rate personal loans offer predictable monthly payments. Here are some top picks for those looking to lock in their rates.
Avant Money Personal Loan
Avant Money stands out with Ireland's top fixed rate at 6.7% APR for loans over €30,000. This loan is particularly attractive for those borrowing larger sums, where the lower fixed rate offers significant savings. However, smaller loans see a much higher rate of 19.9%, making it less appealing for smaller amounts. Ideal for those seeking long-term financial predictability without surprises.
An Post Personal Loan
An Post offers competitive fixed rates starting at 6.9% APR for larger loans. With borrowing options up to €75,000 over seven years, it's a solid choice for those seeking stability. However, smaller loans come with a higher rate of 8.4%. This option suits borrowers who want a balance between flexibility and predictability.
Revolut Personal Loan
Revolut offers a unique digital-first fixed rate experience. With a starting APR of 6.5% and a fully app-based process, it's perfect for tech-savvy borrowers who value speed and convenience. However, the €30,000 cap may not suit those needing larger amounts, and the requirement for a Revolut account could limit accessibility.
If you're comfortable with variable rates and potential fluctuations, the following options might offer you better upfront rates, though with more risk.
Variable Rate Options
These loans provide lower initial rates, but your payments can vary over time. Let's explore the best variable rate loans available now.
PTSB Personal Loan
PTSB leads with a market-low 5.99% rate for loans over €25,000. This makes it the go-to for larger loans needing a variable approach. However, smaller loans face higher rates, diminishing its appeal for lower borrowing amounts. It's best for those seeking large sums who can manage rate changes.
Bank of Ireland Personal Loan
Bank of Ireland provides a solid option with an APR range of 7.1% to 8.9% for loans up to €75,000. The flexibility of early repayment without penalties is a plus for existing customers. It's a good choice for those who prefer the flexibility of paying off their loan faster without extra costs.
AIB Personal Loan
AIB offers a standard 8.95% APR, but shines with its Green Personal Loan at 6.4% APR for eco-friendly purchases. This makes it ideal for those looking to finance green home improvements or electric vehicles, though its standard rate lags behind competitors for general purposes.
Credit Union Personal Loans in Ireland
Credit Union loans offer community-based lending with an average APR between 8% and 12.7%. While not the cheapest, the personalized service and local branch support are invaluable for those who value relationship banking. This option suits those building credit or seeking a more personal touch.
Choosing the right loan depends on your financial goals and risk tolerance. Fixed rates offer stability, while variable rates can provide lower initial costs. For those new to personal loans, our detailed guide on Personal Loans for First-Time Borrowers: Your Best Options will help you navigate the landscape effectively.