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Call 1890 587 587

 

Lines are open: 
Mon-Fri 8.30am - 8pm.

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Personal Loans What's a Representative Example?

A Representative Example is a term used in financial advertising regulations. The example will help to show you the typical costs associated with a loan for a certain amount.

Car Loan

You take out a personal loan and use the money to buy a car or vehicle, the car loan is tied to you and not to the car, it's a flexible option that doesn't commit you to a particular dealer or manufacturer.

Cash or Savings

You can use money from your account to buy the car. You can also combine your money with another type of finance e.g. part loan / part cash.

Leasing

When you lease a car, the finance provider owns the vehicle. At the end of the term you simply hand it back and may have to pay for any mileage over the agreed limit and any damage not considered fair wear and tear etc. Sometimes you will have the option to include maintenance and other costs in the monthly payment.

Personal Contract Purchase

Like hire purchase, you take a loan through the dealership and make monthly repayments. But instead of paying for the full value of the car, you leave a lump sum to be paid at the end of the contract – the 'final value'. At the end of the term you normally have 2 options:

  • Pay the lump sum and keep the car, or

  • hand the car back to the dealer.

These schemes are designed to offer lower monthly repayments but can work out more expensive than hire purchase or a car loan.

 
 

Hire Purchase

This is a finance scheme similar to a personal loan, with fixed monthly re-payments for a term you choose. The main difference is that the finance is tied to the car, and the loan provider owns the car until the loan is fully repaid. Details vary but generally:

  • you select the car you want from the dealership, they arrange finance for you;

  • you effectively 'hire' the car for an agreed period of time, the monthly cost includes the loan interest cost;

  • at the end of the hire agreement, you pay an administration fee and ownership of the car is transferred to you.

Personal Loans Funds next working day

To be eligible to receive your loan funds the next working day you must:

Use online banking

Apply online before 9.45pm Monday to Thursday and have your loan accepted

We must already hold your up to date personal information

Sometimes we'll need to contact you for more information so it can take a little longer.

How we use your data Your personal data

The information you provide will be used to identify you and to provide you with an indication of being accepted for a personal loan with us. To provide you with this indication, we may share your information with Equifax (a credit rating agency). Neither us or Equifax will use your information for any other purpose.

Managing your loan Making an overpayment

You can make overpayments at any time and this could shorten your loan term.

An interest charge will apply when you make overpayments towards your loan, we can let you know the exact amount and discuss the impact of the overpayment before you make it in any of our branches.

Locate your nearest branch
Managing your loan Changing your details

If you need to change your monthly repayment date or bank account your loan is paid from please visit us in branch where we will be happy to help.

Locate your nearest branch

 

If you need to change the name or address related to your loan, there are numerous ways that you can let us know.  Find out your different options here.

Personal Loans Representative APRs

A representative APR is the interest rate applied to over half of loans issued for a particular size of loan.

All lenders advertise rates in this way. Most lenders (including us) use personalised pricing and this means your rate will be based on your personal circumstances.

Green Loans Borrowing rates

 

Loan amount

ARI (Assumed Rate of Interest) APR (Annual Percentage Rate)
€1,500 - €4,499 13.07% 13.9%

€4,500 - €7,999

11.28%

11.9%
€8,000 -€11,999 10.38% 10.9%
€12,000 - €40,000 8.55% 8.9%

 

Rates are correct as at 18th November 2013 and are subject to change.

What happens next?

In order to complete your application we need a bit more information to confirm your identity, address and validate your income. We try to do this electronically but sometimes we need to see physical proof. You'll shortly receive an application pack in the post detailing exactly what documents we require. You can provide these in one of two ways:

In branch
Simply visit your local branch where your documents will be validated and your application completed. Book an appointment now

By post
Return your documents along with your signed application form using the freepost envelope in your application pack. Your documents will need to be certified first.

Find out what documents we can accept

My application was declined and I don't know why

Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.

You can appeal our decision however we cannot give any assurances that our original decision will be overturned. You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.

Personal Loans Borrowing terms
  • If you're borrowing for home improvements, you can take the loan over a term of up to 10 years

  • Other loans can be taken for up to 5 years, for loans of €12,000 or less, or up to 7 years for loans greater than €12,000

  • The minimum borrowing term is 1 year

Debt Consolidation Loans Apply now

Taking on any new loan is a big decision and we're here to help you make the right one.

Refinancing existing borrowing can be complex and many of our customers find it easier to talk to someone before they apply. Our Customer Advisors in branch can talk to you about other borrowing options that may better suit your needs.

You can still apply online today, but if you'd rather talk to someone before you apply to ensure this loan is right for you, chat with one of our webchat agents who can arrange an appointment at your local branch.

 

Debt Consolidation Loans Apply now

Taking on any new loan is a big decision and we're here to help you make the right one.

Refinancing existing borrowing can be complex and many of our customers find it easier to talk to someone before they apply. Our Customer Advisors in branch can talk to you about other borrowing options that may better suit your needs.

You can still apply online today, but if you'd rather talk to someone before you apply to ensure this loan is right for you, chat with one of our webchat agents who can arrange an appointment at your local branch.

 

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