Variable Rate Personal Loan
Turn your dreams into reality
11% APR representative for loan amounts from £10,000 to £15,000
Now is a good time to make your plans a reality.
Whether you’re planning home improvements, a new car or the wedding of your dreams – you can turn your plans into reality with a personal loan from us, giving you the financial flexibility you need, at a variable interest rate.
As an existing business customer, you are eligible to apply for a loan in your personal name.
To apply for a personal loan, you must also be over 18 and you must be resident in the UK. Lending criteria and terms & conditions apply. For more details see the 'Important information' section.
11% APR representative for loan amounts from £10,000 to £15,000
(other loan amounts available at alternative rates).
Representative example
Loan amount of £15,000 with 60 payments over 5 years of £327.41 per month. Total amount payable £19,317.19. Interest rate 10.75% p.a. (variable). 11% APR representative. No arrangement fee applies.
Features and benefits
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Flexibility to make additional payments or settle early without penalty
- Make lump sum reductions to the balance of your loan, during the term, without penalty.
- Settle your loan in full on payment of the outstanding balance plus interest accrued to date, without penalty.
- Please talk to us if you require more information on how to make settlement payments.
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Repayment frequencies
- Flexible repayment frequencies including weekly, monthly, quarterly.
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Annual terms available from one to five years for your chosen amount
- You can choose the freedom to arrange repayments over 12, 24, 36, or 60 months over your chosen loan amount.
Fees and Interest
- With a variable rate loan, you will be borrowing a fixed sum of money and it will be repaid in instalments over a set period or term.
- The interest rate is linked to the Banks Base Rate. This means the interest rate may go up or down during the term which may affect the total amount you repay and the term of the loan.
- Interest is calculated daily on the cleared balance of the account and charged quarterly in arrears (posted to your account in March, June, September & December).
- Arrangement fee does not apply.
- Further information on interest rates, fees and charges is available upon request by calling 0345 6005204
How to apply
To apply for a personal variable rate loan, call us on 0345 600 5204*
When you apply for a personal loan, we will carry out a credit check with Equifax, a licenced credit reference agency which is standard practice with all lending applications. Credit Reference Agencies record details of our search, and this may affect credit applications you make elsewhere.
† Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.
Important information
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Information about borrowings
As an existing business customer, you are eligible to apply for a loan in your personal name.
As a responsible lender, we will only lend you money after assessing whether you are able to make the repayments. We will only issue credit facilities depending on your financial circumstances.
To apply for a personal loan you must be resident in the UK and must be aged 18 or over. Please ask us for full details of terms and conditions and written quotations.
Help and Guidance
Help Centre
For all service related queries please visit our Help Centre.
We adhere to the Standards of Lending Practice which sets standards for banks when dealing with lending and overdrafts for personal customers. You can get more information on the Standards from www.lendingstandardsboard.org.uk. The Statement of Lender and Borrower Responsibilities details our key responsibilities and what we ask of you to ensure that the relationship works well for both of us.
Related Information
Availability of credit depends upon our assessment of your financial position. We encourage you to take independent legal advice to ensure that you understand your commitment and the possible consequences of your decision.
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AIB Group (UK) p.l.c. is covered by the Financial Services Compensation Scheme, Financial Ombudsman Service and is a Registered Firm with The Lending Standards Board.
The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trade marks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland. Registered Office 92 Ann Street, Belfast BT1 3HH. Registered Number NI018800. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.