How does the PTSB Home Improvement Loan work?
The Home Improvement Loan is a personal loan specifically designed to finance home renovation or improvement projects. With this loan, you can plan major transformations or small adjustments to your home with complete flexibility.
Key Features
↪ Available amounts: Between €10,000 and €75,000, tailored to your needs and project size.
↪ Repayment terms: Choose terms ranging from 1 to 10 years, adjusting installments to fit your budget.
↪ Competitive interest rates: Starting at 7.9%, with a representative APR of 8.2%.
↪ Simplified process: Applications can be completed entirely online, with initial approval granted in minutes, ensuring you can start your renovation without delays.
↪ Funds disbursement: After final approval, the requested amount is deposited directly into your PTSB current account, ready to be used as needed.
What documents are required to apply for the loan?
✔ Valid ID: Passport or national ID card.
✔ Proof of address: A recent utility bill or an up-to-date bank statement.
✔ Proof of income: Recent payslips or an income tax return.
✔ Bank account details: Information about the account where the loan will be deposited.
What fees are charged?
✔ Variable interest rates: Starting at 7.9%, adjusted based on the requested amount and chosen repayment term.
✔ Representative APR: 8.2%, reflecting the total cost of credit, including applicable interest and charges.
A tip for you!
Taking out a loan for renovations can be a smart decision, but it requires careful planning. Determine the total cost of your renovation project and request an amount that covers your needs without exceeding your budget. This will help ensure you don’t borrow more than you actually need.
Make sure the monthly installments comfortably fit within your budget, without compromising other expenses. For example, if you borrow €20,000 at an interest rate of 7.9% (APR 8.2%) with a repayment term of 5 years, your monthly installments would be approximately €404.57. Over the entire term, the total cost of credit would amount to €24,274.20, including €4,274.20 in interest.
This example shows how costs can vary depending on the amount borrowed and the chosen repayment term. Evaluating these numbers before taking out a loan is essential for making a financially sound decision.
Apply for the PTSB Home Improvement Loan today!
If you’re ready to transform your home, the PTSB Home Improvement Loan is the perfect solution. With competitive terms and a quick process, you can start your renovation without complications.
Visit the bank’s official website and start your application today. Don’t delay your dream of renovating your home—click the button below and take the first step now!