Are you looking for flexible financing that can work for multiple purposes? Personal loans can be a solution whether you are making a large purchase, funding significant home improvement projects, managing unexpected expenses, or education costs. These loans are also helpful in covering wedding costs, holiday expenses or even moving costs.
Like any other lending place in the UK, you get these loans with fixed loan terms, interest rates, and monthly instalments at Comparemyloan. However, where are we different? We provide the competitive interest rate in the market.
Moreover, you get a loan here that fits within your budget. It means we provide the most affordable personal loans in Ireland, provided that you make on-time monthly payments.
| Minimum loan amount | €1000 |
| Maximum loan amount | €50,000 |
| Loan terms | 12 to 60 months |
| Repayment mode | Monthly |
| Prepayment fees | None |
| Application fee | None |
Personal loans are among the most popular financial arrangements where one borrows a principal amount on a fixed interest rate and repays in a fixed monthly instalment. These loans are helpful in fulfilling several purposes, which may include but are not restricted to:
If you need more than €1000, then it would be a good decision to opt for a personal loan. At least, it is a much better option than a credit card. The average interest rate of a credit card revolves around 14% to 29%. It is indeed very high to opt for. On the other hand, a loan carries an interest rate of 6-8% approximately, giving much-needed relief during a financial need.
If you have a decent credit score with a proven financial record, you can easily qualify for a loan at a lower interest rate than a credit card. You will save a lot of interest on the loan and repay easily with a fixed monthly instalment. However, to make your loan offer more effective, we suggest you use a personal loan calculator and get the right estimate on the loan figures.
As a responsible private money lender, we vouch hard to provide you with the maximum loan advantages. Several people have already benefited from our bespoke loan offers. You will be the next. Apply now and get these benefits without any delay.
Affordable loans: We provide loans according to the individual capacity. It motivates us to prepare only the reasonable loans, which you can repay from your monthly income. There is no need to disturb your savings.
Fast funding with no complex paperwork: We provide loans online, and therefore, the process does not involve complex documentation. You can submit a loan application within a few minutes, and we fund your personal ends on the same day.
Competitive interest rate: The concept of affordable lending allows us to provide each loan offer on the best loan rates in Ireland. Everyone finds our rates relatively manageable as compared to other loan agencies.
Predictable repayment term: Personal loans involve fixed monthly instalments to pay. It means you already know how much amount you need to pay each month to clear the loan according to the given schedule. It is better for your household budget.
No credit check upfront: Our primary concern is to ease your financial stress. Therefore, we reduce your worry about hard credit checks by not doing an initial credit assessment. We later do soft credit checks just to prepare affordable loan deals. Later, we have explained.
A guarantor is not mandatory: We further ease your financial burden by opting out of the guarantor's obligation from the loan process. If you do not have a guarantor, then don't worry. We are still accepting your loan application, and it won't impact the interest rate.
Credit score improvement: Our affordable loans have a positive impact on your credit scores. With a fixed repayment amount, you can plan your monthly earnings to make loan instalments easily. Alternatively, you can opt for our automatic deduction option.
Are you satisfied with these benefits? Of course you are. There is no need to wait anymore. Instead, apply now.
When you think of the most versatile loan option, a personal loan is undoubtedly top of the charts. What will be the reason to prove that? Simple, i.e. the loan is available in different formats, providing solutions to the borrowers during varied financial circumstances and needs.
Here are the most common loan types:
Unsecured personal loan: This is perhaps the most used one because it is beyond the compulsion of providing collateral. Yes, to apply for unsecured loans, you do not need any assets to put as loan collateral. You can say it is a risk-free loan. Still, remember, you need to pay a higher interest rate, as a small loan amount is applicable.
Secured personal loan: This is the primary counterpart of a no-collateral loan. Here, you are tied with the obligation of providing loan collateral. It will work as the loan security, which means you can get a higher loan amount at a lower interest rate. Is there any risk? Yes, the lender has the right to repossess your asset if you default on the loan. Examples can be car loans, mortgages, home loans, etc.
Co-signed personal loan: It is also among the widely used loans where a person applies with another person. It is also known as a joint loan, and approval chances become very high because both applicants are equally responsible for making the repayments. Lenders are assured of guaranteed repayments, and therefore, chances of loan approval are much higher.
Bad credit personal loan:This loan type is mostly utilised by those individuals who have been in trouble with poor credit history. These are high-interest rate loans, available for only a small amount to borrow. However, these are beneficial in terms of getting quick funding and also improving the credit scores, as you get them on flexible repayment terms.
Loan companies usually consider several elements while considering loan applications. Among those, the applicant's credit score has been the most important. Having a good credit score is always the guarantee of loan approval. Even people with fair credit ratings are also approved for borrowing.
Problems are there for those having poor credit scores. If you also have a low credit profile, you may have to search hard to find a deal on personal loans for bad credit on instant approval. However, you can easily get it here by showing your affordability towards the loan.
You are likely to get a higher interest rate as compared to those with good credit profiles. The APR may go up to 33%, as getting lower than that may not be possible with a poor credit score.
We offer bad credit personal loans by looking beyond your credit score while deciding on your loan application. For example, we want to look more at your income capacity and recent financial performance. Your monthly income should be enough to manage the monthly loan instalments. Similarly, you should be debt-free for the last 6 months prior to applying for the loan.
Alternatively, you can add a co-signer or a guarantor to make your application stronger. It also benefits you in getting loans at lower interest rates.
- How can I build my credit score?
One more essential point is that you should try hard to build or re-build your credit score. How can you do that? Here are some suggestions from our loan experts: