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Personal Loan

  • 02-11-2019 10:33pm
    #1
    the-island-man
    Registered Users, Registered Users 2 Posts: 497 ✭✭


    Hi,

    Is it possible to pay a personal loan with a variable rate back earlier than the term without incurring any penalties?


Comments

  • #2
    Bank of Ireland: Kathryne
    Closed Accounts Posts: 218 ✭✭Bank of Ireland: Kathryne


    Hi there,

    Thanks for getting in touch with us here on Boards.ie.

    It is possible to make additional payments or even pay off a personal loan early. With most variable rate loans this would not attract penalties but this would be specific to your own loan agreement so to get clarity on this we would advise linking in with our lending team on 0818200334 and they will be happy to help.

    You can make additional payments to your loan account using the "quick transfer" facility on Banking 365. Our lending team can confirm your closing account balance before you make the payment.

    Many thanks,
    Kat


  • #3
    the-island-man
    Registered Users, Registered Users 2 Posts: 497 ✭✭the-island-man


    Bank of Ireland: Kathryne wrote: »
    Hi there,

    Thanks for getting in touch with us here on Boards.ie.

    It is possible to make additional payments or even pay off a personal loan early. With most variable rate loans this would not attract penalties but this would be specific to your own loan agreement so to get clarity on this we would advise linking in with our lending team on 0818200334 and they will be happy to help.

    You can make additional payments to your loan account using the "quick transfer" facility on Banking 365. Our lending team can confirm your closing account balance before you make the payment.

    Many thanks,
    Kat
    Thank you for the prompt response.

    Can I also clarify that it is possible to get a personal loan without having a current account with Bank of Ireland?


  • #4
    Bank of Ireland: Kathryne
    Closed Accounts Posts: 218 ✭✭Bank of Ireland: Kathryne


    Hi again,

    Thanks for linking back in with us.

    You can absolutely apply for a personal loan, even if you don't bank with us currently. Our lending team can process your application over the phone or in your nearest branch. They may ask for supporting documents like photo ID and a bank statement from your account holding bank.

    Hope this helps and please let us know if you have any other queries.

    Many thanks,
    Kat


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