MorvenCash is an independent financial comparison platform. We may earn a commission when you click through.
The Truth About Personal Loans for Bad Credit
Discover the best personal loans for bad credit this July.
Top Picks for Bad Credit Borrowers
Best for rebuilding credit: Credit Union Personal Loan.
Lowest rate for large amounts: PTSB Personal Loan.
Best fixed rate: Avant Money Personal Loan.
Community-Based Lending Options
For borrowers with bad credit, community-based lending options like credit unions can offer a more personalized approach. These institutions often consider more than just your credit score, which can be beneficial if you're looking to rebuild.
Credit Union Personal Loans in Ireland
The draw here is the community-first approach, which can be useful for those needing to rebuild credit. Though rates range from 8.0% to 12.7% APR, the local branch support and personalized underwriting can be worth it.
An Post Personal Loan
While An Post offers competitive fixed rates from 6.9% APR, it's better suited for larger loans over €5,000. Smaller loans might face higher rates.
If local branch support isn't your priority, consider digital lenders for potentially faster approval times and lower rates on larger sums.
Digital Lenders Offering Fixed Rates
For those more comfortable with technology, digital-first lenders provide the convenience of applying online with competitive fixed rates.
Avant Money Personal Loan
You'd pick this if you're seeking certainty on monthly repayments. Avant Money shines with a 6.7% APR for loans over €30,000, offering one of the best fixed rates in Ireland.
PTSB Personal Loan
The trade-off with PTSB is the variable rate, but for loans over €25,000, the 5.99% rate is unbeatable. It's a great choice if you're comfortable with potential rate fluctuations and need a large sum.
Bank of Ireland Personal Loan
Bank of Ireland's variable rates from 7.1% to 8.9% APR might appeal to existing customers who value flexible overpayments without penalties.
While fixed rates offer predictability, they might not always be the cheapest option. Consider your financial situation and loan needs before deciding. For a deeper look into loan features, check out Personal Loans in 2026: Best Rates and Unique Features — it's worth a read for those serious about finding the right loan.
