Personal Loans
Personal loans are widely available in the Republic of Ireland and allow you to borrow money on an 'unsecured' basis. In other words, you do not have to use a large asset such as your home or car as collateral such as you would on a secured loan– here, the money is unsecured and flexible. Of course, you will still need to pay interest which will vary according to the provider and your personal financial circumstances. A personal loan can be used for any purpose, whether you would like to pay for a holiday, a wedding or home improvements. You may need a good credit rating to get the loan; if you have a bad credit rating then you may prefer to view other borrowing options listed on Which Way To Pay Ireland. Compare the loans below for the best deal.
Search Report: Personal Loans Unsecured Loans Secured Loans
Compare Personal Loans
If you are looking to borrow money and have a relatively good credit history a personal loan could be for you.
What Is A Personal Loan?
People need loans for a variety of reasons and borrowing is part of everyday life. A popular type of loan is a personal loan. Personal Loans vary in size, terms and conditions widely. With this said it is really important that you spend plenty of time researching before making an application and collate offers from different lenders. The features of loans vary from lender to lender so you should never accept the first loan you are offered. You could make big savings by borrowing elsewhere. Use to table above to compare some of the leading personal loans available for people in Ireland. If you use online lenders you will find a faster and easier application process. Apply in minutes and you can get an instant quote.
When you decide to get a personal loan there are a few things which you should consider
Remember a loan is a serious commitment. Before you make an application you need assess your personal finances and really think about how much you can afford to borrow. Be prepared that taking out a loan may mean you have to change your lifestyle and make certain sacrifices in order to make your repayments. You should only take out a loan that you can afford because you do not want to end up in a situation where you are struggling to make ends meet every month.
Are there different types of personal loan available?
There are fixed rate personal loans on the market. With these loans the interest remains the same for the duration of the loan. You can also find variable rate personal loans where the interest can either go up or down. Whether a fixed or variable rate is better for you will depend on the interest rate environment when you take out the loan and how long you are taking the loan out for.
Secured and Unsecured Personal Loans
You will find that you can take out secured and unsecured loan. A secured loan is where you are required to secure the loan against large collateral which is usually your home or car. You will find that with secured loans, because the lender has the security of you asset, you will be able to borrow more money for a longer period and you can also find that interest rates can be considerably lower. However, should you decide on a secured personal loan, if you default on the debt obligation you can find that your collateral will be seized.
If you want to avoid having your home or car repossessed should you miss loan payments you could decide on an unsecured personal loan. Unsecured loans are less risky for borrowers but as there is more risk for the lender you will not be able to borrow as much as with a secured loan. You will also find that interest rates are likely to be higher.
Personal Loans can be risk so make sure that you can pay them back
You need to make sure that you make repayments when they are due. Failure to do so can result in a debt problem which can easily escalate as the interest on your debt combined with late charges can quickly accumulate. You also risk damaging your credit score which will be used against you when applying for financial products like credit cards and loans in the future. People with better credit scores will be offered better loan conditions are likely to be able to borrow more money for lower interest. Unfortunately, those with a poor credit history will be offered less favourable terms.
Choosing the right personal loan
The interest rate is obviously the most important aspect to consider. However, you need to make sure that the other features of the loan suit you and your lending requirements. Before applying make sure you understand the costs, charges and terms and conditions of the loan agreement. Always read the small print carefully so you know what the penalties are for late and missed payments because these can be costly.
Personal Loans - Latest News 

Personal Loans – how do I get the best deal on the market?
19 August 2013
Which Way To Pay
When researching personal loans you must ensure you do your homework so you get the most for your money. But where do you start with so many lenders in the market?

Personal loans – pros and cons
06 May 2013
Mark Maffia
Personal loans can be helpful, but should be chosen with care

Why Not Pick Up A Personal Loan.
21 June 2012 14:30
Phoebe Robinson
Strapped for cash? One option that isn’t use your credit card is take out a personal loan. A personal loan is a relatively small loan that allows you to borrow money and spend it how you wish.

Is the Bank of Scotland Making Secret Deals with Customers?
02 September 2011
Which Way to Pay
Evidence has emerged to suggest that the Bank of Scotland (Ireland)/Halifax is doing secret deals to reduce the size of personal loans and credit card debt. The lender has refused to acknowledge the claim even in the face of evidence surfacing in the media this week.

Fixed or Variable Rate Personal Loan?
01 September 2011
Which Way to Pay
If you need a cash injection more substantial than that offered by a payday loan, you may want to consider taking out a personal loan. Many lenders will offer such loans on very flexible terms and without associated security in the form of your own collateral i.e. house/car.