Personal Loans in Ireland – What You Need to Know
What is a Personal Loan?
A personal loan is a type of unsecured loan that allows you to borrow a fixed amount of money for personal use — whether it’s funding a home improvement project, covering education costs, consolidating debt, or planning a special event. You’ll repay the loan in fixed monthly instalments over an agreed term, usually between 1 and 7 years, with a set interest rate.
Because personal loans are unsecured, you don’t need to offer any assets (like your home or car) as collateral. Approval is primarily based on your credit history, income, and financial circumstances.
Documents Required for a Personal Loan in Ireland
When applying for a personal loan in Ireland, you’ll typically need to provide the following documents:
1. Proof of Identity
Any one of the following:
- Valid passport
- Irish driver’s license
- EU/EEA national ID card
2. Proof of Address
Recent documents dated within the last 3–6 months:
- Utility bill (electricity, gas, or landline)
- Bank or credit card statement
- Revenue correspondence
- Local authority letter
3. Proof of Income
Depending on your employment status:
For Employees:
- Recent pay slips (usually last 3 months)
- Bank statements showing salary deposits
- Employment details (such as employer name and job title)
For Self-Employed:
- Most recent Notice of Assessment (NOA) from Revenue
- Certified or audited accounts (last 1–2 years)
- Business bank statements
4. Personal Public Service Number (PPSN)
Your PPS number may be required to verify tax records or credit checks.
Things to Keep in Mind:
- A strong credit history improves your chances of approval and a lower interest rate.
- Some lenders may request additional documentation depending on your financial profile.
- Always compare interest rates and terms from different lenders before applying.
