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 .
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
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.
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Finder Score for unsecured loans
To make comparing even easier we came up with the Finder Score. Speed, features and flexibility across 60+ lenders are all weighted and scaled to produce a score out of 10. The higher the score the better the lender – simple.
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 7.9%APR representative on loans between £5,000 and £9,999. AIB (NI) offers the loan with repayment terms between 1 and 5years, 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 type
Unsecured Personal Loan
Loan amounts
£1,000.00 to £25,000.00
Loan terms
1 year to 5 years
Loan rate type
Fixed
Product fee
0%
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 methods
Direct 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
Unlike many providers in this market, the interest rate you’re offered with AIB will not vary depending on your personal circumstances. Provided your application is successful and you draw down your loan within the agreed timescales, you’re guaranteed to receive the rate you were quoted at the time of your application. This rate will remain fixed for the duration of your loan.
Yes, you can make additional payments or settle early without penalty. This is advised if you can afford to do so as it will save you money in interest.
Repayments are made via direct debit from your AIB current account.
You can choose to repay your loan in 12, 24, 36, 48 or 60 equal instalments. To work out what the repayments would be for your chosen loan amount over these terms, you can use the quick calculator on the AIB website.
If your money is being deposited into an AIB current account, funds will be transferred immediately. However, transferring money to an account with a different bank or building society will normally take up to two hours, if not the next banking day.
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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.
Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more. See full bio
Chris's expertise
Chris has written 602 Finder guides across topics including:
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Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
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