Financing a home renovation in Ireland comes down to five main routes: a personal loan from a bank, a loan from a credit union, a fintech loan, a mortgage top-up releasing equity from your home, or a government-backed green loan tied to energy upgrades. The right choice depends on how much you need, what the work covers, and whether you have equity built up. This guide covers every option available in 2026, with current rates, who each suits best, and what to watch out for.
The Full Picture: Who Lends for Home Renovations in Ireland
One thing worth knowing upfront: most Irish homeowners financing renovations fall into a predictable pattern. Small jobs (€5,000 to €25,000) typically go through Revolut or a credit union. Medium projects (€25,000 to €80,000) go through a credit union or Avant Money. Big renovations of €100,000 or more almost always involve a mortgage top-up. Understanding where your project sits helps you go straight to the right lender.
| Category | Lenders |
|---|---|
| Digital / fintech | Revolut, N26 |
| Banks | Bank of Ireland, AIB, PTSB |
| Non-bank lenders | Avant Money, An Post Money |
| Credit unions | 300+ local credit unions across Ireland |
| Government scheme | SBCI Home Energy Upgrade Loan |
| Mortgage borrowing | Mortgage top-up or equity release |
Option 1: Bank Personal Loans
Bank of Ireland
Bank of Ireland offers personal home improvement loans with competitive rates. For a €30,000 loan over five years, CCPC data from February 2026 shows Bank of Ireland at 7.1% APR, with a cost of credit of approximately €5,539. Terms of up to 10 years are available for larger home improvement borrowing.
AIB
AIB offers personal loans from €1,000 with quick online decisions on smaller amounts. CCPC data from February 2026 puts AIB at 8.95% APR on a €30,000 loan over five years, with a cost of credit of approximately €7,019. For existing customers with smaller needs (€1,000 to €30,000), AIB can approve within hours. Amounts above €30,000 take longer to assess.
PTSB
PTSB has been particularly aggressive on pricing since late 2024, cutting rates multiple times. It now claims Ireland’s lowest personal loan rate between €25,000 and €75,000 (excluding green loans, per CCPC, September 2025). A €25,000 loan over five years at 5.99% interest (6.2% APR) costs approximately €483 per month. Terms up to 10 years are available for home improvement borrowing over €10,000. Instant approval and same-day drawdown is available for existing current account holders on amounts up to €30,000 through the app.
Best for banks: Existing customers who want the backing of a pillar bank, or borrowers who need amounts above what Revolut or a credit union will lend.
Option 2: Digital and Fintech Lenders
Revolut
Revolut has become a popular option in Ireland for smaller home improvement loans. Applications are completed entirely in the app and approval is often very quick.
Loans range from €2,000 to €30,000, with APR typically between 6.5% and 12.99%, depending on your credit profile. Terms run up to five years, and there are no early repayment penalties, allowing borrowers to clear the loan faster if they wish.
To qualify, you generally need to be resident in Ireland, have an active Revolut account fro 30+ days, and show regular income through your bank account.
Best for: Quick access to €2,000 to €30,000 for cosmetic renovations, kitchen upgrades, or bathroom projects where speed and simplicity matter more than getting the absolute lowest rate.
N26
N26 is a digital bank available in Ireland. While it does not currently provide its own loans locally, it has offered partner credit products in parts of Europe, and Irish customers sometimes use it alongside other lenders for financial management.
Best for: Digital banking and budgeting rather than direct renovation lending in Ireland.
Option 3: Non-Bank Lenders
Avant Money
Avant Money, the Irish arm of Spanish bank Bankinter, is one of the most competitive lenders for home improvement loans in the mid-to-large range and is the lender most often overlooked by Irish homeowners.
For loans over €30,000, Avant Money advertises Ireland’s best fixed rate at 6.7% APR (as of February 2026, source CCPC.ie, excluding green loans). On a €30,000 loan over five years at 6.5% fixed rate (6.7% APR), monthly repayments are approximately €587 with a total cost of credit of around €5,219. For smaller loans between €5,000 and €19,999, the rate starts from 8.5% APR.
Crucially, Avant Money loans come with fixed rates, meaning your repayment does not change for the life of the loan regardless of what happens to market rates. Terms run up to 10 years for home improvement loans of €20,000 to €75,000. You can apply online with approval in principle within minutes, and no branch visit is needed.
Best for: Borrowers in the €20,000 to €75,000 range who want a fixed rate and are comfortable applying without a bank relationship.
An Post Money
An Post Money is a credit intermediary for Avant Money, meaning it sells Avant Money loan products through post offices across Ireland. The rates and terms are the same as applying directly through Avant Money. An Post Money claims the best fixed rate on loans under €30,000. It offers the same online application process and is worth comparing alongside Avant Money directly. An Post Money also participates in the government-backed Home Energy Upgrade Loan Scheme for eligible retrofit projects.
Best for: Borrowers who prefer a familiar brand or want to walk into a post office branch for support with the application.
Option 4: Credit Unions
Credit unions deserve their own substantial section because they are genuinely the most popular source of renovation finance in Ireland for good reason, and they are often better value and more flexible than banks for a large portion of borrowers.
There are over 300 credit unions in Ireland. Lending decisions are made locally by people rather than algorithms, which means self-employed borrowers, those with non-standard income, and people who do not fit neatly into a bank’s credit scoring model often find credit unions more accommodating. Most credit unions also offer free loan protection insurance, no early repayment penalties, and flexible repayment scheduling.
What Credit Union Home Improvement Loans Typically Offer
The Irish League of Credit Unions surveyed its affiliated credit unions in mid-2025 and found the average home improvement loan rate was 7.22% APR across the Republic of Ireland. The maximum any credit union can legally charge is 12% (12.68% APR), but most charge significantly less. Many have introduced dedicated home improvement loan products with rates below the personal loan average.
Notable Credit Unions for Home Renovation Lending
Blackrock Credit Union offers home improvement and renovation loans from €5,000 to €120,000, making it one of the higher-limit credit unions in the country. This makes it relevant for larger extension and full renovation projects that most credit unions would cap.
Dubco (Progress Credit Union) offers personal and home improvement loans up to €100,000 for members, with flexible terms and local decision-making.
Premier Credit Union offers renovation loans up to approximately €75,000, with competitive rates and the standard credit union benefits of no early repayment penalties and included loan protection.
First Tech Credit Union offers renovation loans with rates around 6.9% APR, competitive with the best non-green rates available from banks and non-bank lenders for that range.
HSSCU has offered large home improvement loans at 5% on amounts of €25,000 or more, one of the lowest rates available in the credit union sector for renovation financing. Note that these funds are subject to availability.
The key practical point about credit unions: you need to be a member to borrow, but joining is straightforward. In most cases you can join and apply in the same process, and many credit unions now allow online membership and loan applications without a branch visit.
Best for: Members with a savings history, self-employed borrowers, those who want flexible repayments and no early penalty, and anyone who wants a personal rather than algorithmic lending decision. Particularly strong for amounts from €5,000 to €80,000.
Option 5: Government-Backed Home Energy Upgrade Loan
This is the lowest-rate loan product available in Ireland in 2026 for renovations that include energy upgrade work, and it is significantly underused by homeowners who qualify.
What It Is and Who Offers It
The Home Energy Upgrade Loan Scheme is backed by the Strategic Banking Corporation of Ireland (SBCI) and administered through participating lenders. It is specifically designed to bridge the gap between what SEAI grants cover and the full cost of a retrofit. Participating lenders as of April 2026 include PTSB, AIB, Bank of Ireland, Avant Money (via An Post Money), and seven credit unions from the Irish League of Credit Unions.
Current Rates
PTSB published updated rates in January 2026:
| Loan Amount | PTSB Rate |
|---|---|
| €5,000 to €14,999 | 4.15% |
| €15,000 to €24,999 | 3.75% |
| €25,000 to €49,999 | 3.35% |
| €50,000 to €75,000 | 2.99% |
AIB and Bank of Ireland joined the scheme in 2024 with starting rates from 3%. Avant Money (via An Post Money) joined in early 2025 and offers fixed rates under the scheme, also with competitive terms. Full details and current rates from all lenders are at gov.ie.
The Conditions You Need to Know
The green loan is not available to every borrower or every renovation. The work must qualify for an SEAI grant and must be projected to improve the home’s BER rating by at least 20%. At least 75% of the loan must go toward eligible energy upgrade works (insulation, heat pumps, solar, etc.). Up to 25% can be used for other home improvement works carried out at the same time. The works must be carried out by an SEAI-registered One Stop Shop or Community Project Coordinator. Your home must have been built and occupied before 2011. Loans are available up to €75,000 and run up to 10 years.
Best for: Any homeowner doing a meaningful energy retrofit including insulation, a heat pump, solar panels, or a deep retrofit through a One Stop Shop. The rate difference versus a standard personal loan can save thousands in interest on larger projects.
Option 6: Mortgage Top-Up and Equity Release
For homeowners with meaningful equity in their property, borrowing against that equity at your mortgage rate rather than a personal loan rate is typically the cheapest option for large renovations. The difference between a 3.5% mortgage rate and an 8% personal loan rate on €80,000 over ten years is not trivial.
How It Works
A mortgage top-up means borrowing additional funds secured against your home on top of your existing mortgage. The amount you can access depends on your current loan-to-value (LTV). If your home is worth €600,000 and your outstanding mortgage is €200,000, your LTV is 33%. Most lenders will lend up to 80% LTV, meaning you could in principle access up to €280,000 of equity, subject to income and affordability.
Bank Options for Equity Release
PTSB
Offers two equity release products. A Top-Up Loan suits renovation and upgrade work that does not involve significant structural changes, with minimum borrowing of €25,000 and terms up to 35 years. A Further Advance Loan is designed for structural renovation, extensions, and works requiring planning permission, with staged drawdowns tied to evidence of completed work. A solicitor is required for both.
AIB
Allows top-ups from €10,000 for existing customers. For smaller amounts not relying on an increase in property value, funds can be drawn as a lump sum. Larger amounts are typically drawn in stages. Terms run up to 35 years, up to a maximum age of 68.
Bank of Ireland
Similarly offers equity release for home improvements with terms up to 30 years (to age 70). For amounts below €75,000, Bank of Ireland has noted the process is relatively straightforward.
Best for: Homeowners with significant equity undertaking large projects (typically €50,000 and above) where the lower interest rate over a longer term more than offsets the additional legal costs and processing time of topping up a mortgage.
Green Mortgages
All three pillar banks now offer discounted mortgage rates for homes with a BER of B3 or above. If your renovation significantly improves your home’s energy performance, you may qualify for a green mortgage rate after completion, sometimes meaningfully below the standard fixed or variable rate. Factor this into the total cost calculation if your project includes significant energy work.
Which Loan Option Is Right for Your Renovation?
| Renovation Type | Best Loan Option | Why |
|---|---|---|
| Kitchen or bathroom renovation | Personal loan (bank or credit union) | Quick approval, no security needed, flexible |
| House extension | Mortgage top-up or personal loan | Larger amounts, lower rate if you have equity |
| Full energy retrofit | Green loan + SEAI grants | Lowest rate available, grants reduce borrowing |
| Mixed renovation (energy + cosmetic) | Green loan for energy portion + personal loan for the rest | Split the project to get the best rate on each element |
| Small project under €10,000 | Credit union personal loan | Best rate on smaller amounts, local and personal |
| Large project with significant equity | Mortgage top-up or further advance | Mortgage rate is cheaper than any personal loan over the long term |
What to Watch Out For Before You Borrow
Compare the Total Cost of Credit, Not Just the Rate
A lower rate over a longer term can cost more in total interest than a higher rate over a shorter term. Always look at the total cost of credit figure, not just the monthly repayment. The CCPC loan comparison tool at ccpc.ie lets you compare total cost across all regulated lenders in Ireland.
Variable vs Fixed Rates
Most bank personal loans in Ireland are variable rate, meaning the lender can adjust the rate during the term. Avant Money stands out by offering fixed rates on all personal loans, which gives certainty on repayments for the life of the loan. Credit union rates are typically variable but are capped by law at 12% APR.
Green Loans Require SEAI-Registered Contractors
The government-backed green loan is only available where the work is managed through an SEAI-registered One Stop Shop. You cannot use a standard builder for energy work and claim the green loan rate, even if the work is genuinely energy-related.
Apply for Grants Before You Apply for a Loan
If your project qualifies for SEAI grants, get grant approval first and then borrow only the gap between the grant and the total project cost. This reduces your borrowing and your interest. Full details of what the SEAI currently covers are at citizensinformation.ie.
Your Credit History Matters
All lenders will run a credit check through the Central Credit Register. A missed loan or credit card payment in recent years will affect your rate, your limit, or your eligibility. Check your credit record before applying, particularly if you are considering a non-bank lender where the rate you are offered depends heavily on your credit profile.