Reference Lending Rates for Bank of Ireland Business/Private Banking.
Except for Business Banking Term Loan Variable Rate for Consumers, the rates quoted below do not include the Bank’s lending margin which is added to give the gross rate applicable to the individual loan. This information is provided in loan documentation provided to the client prior to drawdown. These rates are published to comply with the Consumer Protection Code, paragraph 6.7b (for personal consumers) or the Lending to Small & Medium Sized Enterprises Regulations 2015 (for non personal consumers) and are updated during the day as they become available.
Bank of England Rate
The Bank of England Base/Bank Rate is used in the calculation of the interest rate on your loan if your loan from Bank of Ireland is in £ Sterling and if your signed Loan Offer Letter (as amended from time to time) states that the interest rate applicable to your £ Sterling loan is to be calculated using the Bank of England Base/Bank Rate.
Please note that this rate is set by the Bank of England and is published on https://www.bankofengland.co.uk
Small Business Rates
For small business, our standard rate for unsecured loans up to €120,000 is 6.92% variable. Lower rates may be available where security is provided. How much can I afford to borrow? The illustrative examples in the table below provides examples of loan repayments for various loan amounts over 3 and 5 year periods.
| Loan Amount | Variable Rate | Repayment Term | Monthly Repayment | Total Cost of Credit |
|---|---|---|---|---|
| €5,000 | 6.92% | 36 months | €154.11 | €547.96 |
| €5,000 | 6.92% | 60 months | €98.72 | €923.20 |
| €10,000 | 6.92% | 36 months | €308.22 | €1,095.92 |
| €10,000 | 6.92% | 60 months | €197.45 | €1,847.00 |
| €20,000 | 6.92% | 36 months | €616.45 | €2,192.20 |
| €20,000 | 6.92% | 60 months | €394.90 | €3,694.00 |
| €50,000 | 6.92% | 36 months | €1,541.12 | €5,480.32 |
| €50,000 | 6.92% | 60 months | €987.24 | €9,234.40 |
Business Banking Reference Rates for New Business (Consumer and Business)
| Rate Name | Rate | 3 Month | 6 Month | 9 Month | 12 Month |
|---|---|---|---|---|---|
| Small Business Agri rate | 1.44% | - | - | - | - |
| Bank Cost of Funds (BCOF) | - | 1.13% | 1.58% | - | 1.98% |
| Euribor (365 day) | - | 2.638% | 3.071% | - | 3.483% |
| Euribor (360 day) | - | 2.602% | 3.029% | - | 3.435% |
| Term SOFR | - | 4.72335% | 4.93219% | - | 5.03191% |
| SBCI Bank Cost of Funds | - | - | 0.76% | - | - |
| Business Banking Term Loan Variable Rate For Consumers | 5.50% | - | - | - | - |
| Prime Rate for Consumers | 0.42% | - | - | - | - |
Business Banking Rates (not available for new lending)
| Rate Name | Rate | 1 Week | 2 Week | 1 Month | 2 Month | 3 Month | 6 Month | 9 Month | 12 Month |
|---|---|---|---|---|---|---|---|---|---|
| BOI Prime Rate | 2.60% | - | - | - | - | - | - | - | - |
| BOI Business Prime | 1.44% | - | - | - | - | - | - | - | - |
| Term Loan Legacy Rate | 1.96% | - | - | - | - | - | - | - | - |
| BOI Commercial Prime Rate | 2.90% | - | - | - | - | - | - | - | - |
| Danske Prime 1 | 1.10% | - | - | - | - | - | - | - | - |
| Bank Cost of Funds (BCOF) | - | 0.91% | 0.92% | 0.94% | 1.01% | - | - | - | - |
| Bank Euro Rate (BER) | - | -0.377% | - | -0.367% | - | -0.316% | -0.247% | - | -0.142% |
| Bank Euro Business Rate (BEBR) | - | - | - | - | - | 0.01% | 0.01% | - | 0.01% |
| Private Banking – Cost of Funds (COF) Euro Rate (360 day) | - | 0.36% | - | 0.37% | - | 0.42% | 0.48% | - | 0.59% |
| Euribor (365 day) 2 | - | 2.323% | - | 2.394% | - | - | - | - | - |
| Euribor (360 day) | - | 2.291% | - | 2.361% | - | - | - | - | - |
| Private Banking – GBP Cost of Funds (COF) | - | 0.71% | - | 0.73% | 0.77% | 0.89% | 1.00% | - | 1.14% |
| Private Banking USD Cost of Funds (360 day) | - | 2.22% | - | 2.320% | 2.470% | 2.680% | 2.890% | - | 3.110% |
| USD Cost of Funds / LIBOR | - | - | - | 4.58071% | - | 4.84500% | 5.13500% | - | 5.44000% |
| JPY Cost of Funds/ Synthetic LIBOR | - | - | - | -0.06005% | - | -0.02617% | - | - | - |
| GBP Cost of Funds / Synthetic LIBOR | - | - | - | 3.96330% | - | 4.16430% | 4.47020% | - | - |
| Term Loan Legacy Rate for Consumers | 1.96% | - | - | - | - | - | - | - | - |
| Private Banking – Cost of Funds Euro Rate (PB COF) | - | 0.00% | - | 0.00% | - | 0.000% | 0.000% | - | 0.000% |
| Bank Euro Rate for Consumers | - | -0.38% | - | -0.370% | - | -0.320% | -0.260% | - | -0.150% |
Warning: The cost of your repayments may increase.