permanent tsb bank has set aside up to €100 million to fund education, car and personal loans over the coming year.
permanent tsb, Head of Consumer Finance, Miriam Bloom said the bank’s new range of loans and attractive rates, announced today, show it is determined to grow it’s share of the personal lending market. Ms Bloom said:
Ultimately the amount we lend will depend on consumer demand but we have put the resources in place to support up to €100 million in personal lending over the next 12 months or so. This would be four times the level of personal loans drawn down by our customers last year.
The bank has launched a new range of personal loan products with variable interest rates ranging from 9.3% APR (for a car loan of €20,000+) to 14% APR (a personal loan less than €5,000).
Ms Bloom said the bank’s return to the personal lending market is part of a broader plan to resume normal banking services.
Our restructuring plans are focused on restoring permanent tsb as a competitive force for sustainable lending in Ireland. We will lend responsibly at rates that are attractive to customers.
permanent tsb’s qualified financial advisors will help customers take stock of their big annual bills for the next 12 months and manage them in a simple payment plan.
When you build your savings with us you could borrow up to 4 times the amount saved after 6 months. This is subject to normal credit criteria and terms and conditions one of which will be security on your 6 months savings.
Unlike car finance/hire purchase, these loans allow customers to purchase their car through whatever channel they choose and they will own the vehicle from day one.
Lending criteria, terms & conditions apply. Security may be required.. Personal loans are only available to customers over 18 years of age.
Lending criteria, terms & conditions apply. Security is required. Customer must demonstrate a regular unbroken savings habit over 6 months. This product is only available to customers over 18 years of age. In the event that you take out a Build ’n Borrow loan at any time, a deposit lien will be required on your deposit savings with us as security for the loan. The amount of the deposit lien required is the equivalent to 6 months regular savings. The deposit lien will prevent cash withdrawals for the portion of your cash deposit under lien. Once the loan is repaid in full, the deposit lien will be removed.