AIB

AIB loan calculator and review 2024

If you're planning home improvements, a new car or a wedding, a fixed rate personal loan from AIB (formerly First Trust Bank) could offer you the financial flexibility you need. Loan amounts between and starting from .

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Name Product Ratings Customer rating Finder score Total Payable Monthly Repayment Representative APR Link
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

Late repayments can cause you serious money problems. See our debt help guides.

How do AIB loans compare against the competition?

Table: sorted by representative APR, promoted deals first

Before you take out a personal loan, it’s smart to read up and shop around. You can use the table below to see how much you’d be likely to pay for the loan you have in mind from a range of lenders.

1 - 11 of 11
Name Product Ratings Customer rating Finder score Total Payable Monthly Repayment Representative APR Link
Novuna Personal Loan
Finder score
★★★★★
★★★★★
User rating
★★★★★
Expert analysis
Check eligibility
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.4% p.a. (fixed). Representative APR 7.4% and total payable £11,142.00 in monthly repayments of £309.50.
My Community Bank Personal Loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
Check eligibility
View details
Representative example: Borrow £5,000 over 48 months at a rate of 23.3% pa (fixed). Representative APR 27.1% and total payable £7,854.94 in monthly repayments of £163.64.
Barclays Existing Current Account Loan
Finder score
★★★★★
★★★★★
User rating
★★★★★
Expert analysis
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 9.9% p.a. (fixed). Representative APR 9.9% and total payable £11,527.92 in monthly repayments of £320.22.
Plend personal loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
View details
Representative example: Borrow £8,000 over 48 months at a rate of 16.66% p.a. (fixed). Representative APR 17.99% and total payable £11,013.12 in monthly repayments of £229.44.
Tesco Bank Personal Loan
Finder score
★★★★★
★★★★★
User rating
★★★★★
Expert analysis
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.5% p.a. (fixed). Representative APR 6.5% and total payable £11,003.04 in monthly repayments of £305.64.
Tesco Bank Clubcard Personal Loan
Finder score
★★★★★
★★★★★
User rating
★★★★★
Expert analysis
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.1% p.a. (fixed). Representative APR 6.1% and total payable £10,941.12 in monthly repayments of £303.92.
Lendwise
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
View details
Zopa Personal Loan
Finder score
★★★★★
★★★★★
User rating
★★★★★
Expert analysis
View details
Representative example: Borrow £1,500.00 over 3 years at a rate of 22.9% p.a. (fixed). Representative APR 22.9% and total payable £2,028.60 in monthly repayments of £56.35.
Lloyds Bank Existing Customer Personal Loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
View details
Representative example: Borrow £10,000.00 over 3 years at a rate of 6.7% p.a. (fixed). Representative APR 6.7% and total payable £11,034.00 in monthly repayments of £306.50.
Fluro (formerly Lending Works) Personal Loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
Check eligibility
View details
Representative example: Assumed borrowing of £7,500.00 over 48 months at 17.9% APR representative. Monthly cost of £214.79. Total amount repayable of £10,309.78. Interest rate of 16.6% p.a.(fixed) and total fees of £150.00. Available for loan amounts between £5,000 - £25,000.
thinkmoney Personal Loan
Finder score
★★★★★
Not yet rated
★★★★★
Expert analysis
View details
Representative example: If you borrow £29,100 over 12 years, initially on a fixed rate for 5 years at 8.885% and for the remaining 7 years on the Lender's standard variable rate of 9.285%, you would make 60 monthly payments of £375.53 and 84 monthly payments of £380.29.
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Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

AIB (NI) loan rates at a glance

The AIB (NI) Personal Loan charges 7.1% APR representative on loans between £10,000 and £25,000. AIB (NI) offers the loan with repayment terms between 1 and 5 years, and applicants can apply to borrow from £1,000 to £25,000.

What is AIB?

Allied Irish Banks (AIB) Group is a commercial banking group in Northern Ireland. First Trust Bank was formed in 1991 when TSB Northern Ireland merged with AIB Group’s other interests, then in 2019 it made the switch to simply “AIB”. If you’re approved for a personal loan with AIB, it will act as a lender not as a broker.

Quick overview of AIB personal loans

Loan amount not specified
Loan terms From year to years
Age eligibility Age eligibility not specified
Application fee No application fee
Repayment holiday Repayment holiday not permitted

How do AIB loans work?

Unlike many of its competitors, the interest rate you’re offered on a personal loan with AIB will not vary depending on your individual circumstances. Under its “fairness guarantee”, the rate you’re quoted when you apply will be the one you get.

A personal loan can be used for anything from medical or vet’s fees to home improvements, a new car, wedding or furniture. Paying a large amount at one time can be difficult, but AIB can help you pay the money back over a set period with a competitive fixed rate loan. It’s quick and simple to apply online at the AIB website.

To be eligible, you must already hold a personal current account with AIB.

Key features

Loan typeUnsecured Personal Loan
Loan amounts£1,000.00 to £25,000.00
Loan terms1 Year to 5 Years
Loan rate typeFixed
Product fee0%
Same-day funding available
Instant decisions in most cases
Soft-search facility available
Joint applications
Overpay without penalty
Concurrent loans allowed
Topping-up pays off existing loan and initiates a new loan
Repayment methodsDirect Debit
Representative example: Borrow £10,000.00 over 3 years at a rate of 7.1% p.a. (fixed). Representative APR 7.1% and total payable £11,095.56 in monthly repayments of £308.21. It’s important to note that the rate you are ultimately offered by AIB can depend on factors like your credit rating, income and expenditure. It may differ from the advertised “Representative APR”, because each loan application is assessed on an individual basis.

What is APR?

If you’re comparing any credit-based products, it won’t be long before you’ll come across the annual percentage rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.

All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison.

Bear in mind that lenders are only obliged to award this rate to 51% of those who take out the loan and the other 49% could pay more. That’s why it’s often referred to as the representative APR.

Am I eligible for an AIB personal loan?

You should only apply for an AIB personal loan if you’re certain you can meet the repayment terms. You must also:

  • Have an AIB personal current account
  • Be aged 18 or over
  • Have a good credit history

What credit score do I need to get an AIB (NI) loan?

AIB (NI) typically offers loans to applicants with high credit scores. It's important to note that your credit record is just one factor that AIB (NI) considers. However, if you don't have a high credit score, you're very unlikely to get approved for an AIB (NI) loan.

A "Good" or "Excellent" credit rating would require a score of 881 or higher if you're referring to Experian's scale, 531 or higher if you're referring to Equifax's scale and 604 or higher if you're referring to TransUnion's scale.

Do AIB (NI) loans give an instant decision?

No. Currently, decisions aren't instant.

Can I get a second AIB (NI) loan?

AIB (NI) doesn't allow you to run multiple loans at the same time.

Can I make overpayments on an AIB (NI) loan?

Yes, you can make overpayments without incurring any penalty fee. However, AIB (NI) can continue to charge interest for up to 2 months on any sums overpaid. So, although making overpayments stands to save you money in interest, you may not save quite as much as you'd imagined.

How can I apply for an AIB loan?

  • You can apply for an AIB personal loan through your online banking or via the app.
  • You must be an existing personal current account customer to apply online, or new customers can apply by phone on 0800 38 22 65.
  • Fill out the simple online application form which should take around 10 minutes. It will ask for your address history and details about your employment and outgoings.
  • To find out the decision, simply log back in to your online account or app.

How long does it take for AIB to approve a loan?

AIB will normally process your loan application within three hours, as long as you apply during normal business hours. If your application is approved, you’ll then need to sign your loan documents before the funds will be deposited in your bank account.

AIB customer reviews

AIB has received generally poor reviews from customers, according to review platform Trustpilot. It currently has a score of 1.3 out of 5, based on more than 500 reviews (updated June 2023). Some customers cited poor customer service and delays, as well as issues with accessing their accounts online.

Customer support

You can contact customer support on 0818 724 724. Lines are open Mon – Sun: 09:00 to 17:00.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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