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Save & Borrow

Build your savings with us and you could borrow up to 4 times that!

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Helping you make it happen!

When you save with us, you are building a savings history showing what you can afford to save every month. This makes it much easier for you to see what you can afford to borrow.

How Does it Work?

With the Save & Borrow Loan you could borrow up to 4 times what you have saved after 6 months.

Step 1 - Build your savings

Save into any regular savings account in PTSB.

Step 2 - Borrow if you want to

After 6 months you could borrow up to 4 times your savings. This is subject to the normal lending criteria and terms and conditions.

  • Loan repayments are monthly and you can repay over terms from 12 to 60 months.
  • Minimum amount is €1,500.
  • Maximum amount is €6,999.
  • You must be saving a minimum of €70 a month.
  • A lien will be taken over the amount of savings used to secure the loan.

Even if you don’t plan on borrowing money, that’s no problem. It is just good to know you have a great back up plan should anything crop up.

What’s a lien?

You may be thinking that loan seems great, but what is a lien?

It’s simple. It’s the amount of your savings that are held by the Bank as security against the loan. While the loan is still outstanding, no withdrawals can be made from those savings.

Once the loan has been repaid then the lien will be lifted and the savings will be available. If the loan is not repaid then the savings held in lien can be offset against the balance due.

The minimum savings amount is €70 a month. The minimum loan amount is €1,500 and the maximum loan amount is €6,999 based on needs, savings history and lending criteria.

If your loan application is successful we will lien your savings for the duration of the loan 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.

Read important information about how much you can borrow.

Log in and apply

What’s the rate?

The rate is 13% APR variable for loans under €7,000. 

Our Save & Borrow loans have a variable rate which means that the rate can change from time to time under this credit agreement. This means that your loan repayments could go up or down during the term of your loan.

Loan Example

Below is a representative example – if your requirements are not listed here please call us and we’ll be happy to help!

Savings Amount  Loan Amount  Interest Rate (variable) APR (variable) Total Amount Payable over 3 Years Monthly Payment Amount
€1,250 €5,000 12.25% 13% €5,999.76 €166.66

Learn more about Annual Percentage Rate (APR)

Read the important information details about rates.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Applying is easy

Applying is now easier than ever:

  • Are you a PTSB customer? Just log into Open24 Online Banking from your desktop or log into our app and apply today
  • Call us on 0818 837 415 or +353 1 212 4036 and our team will take your application there and then
  • Drop in to any branch to chat with one of our team

Approval is subject to our lending criteria terms & conditions. The Save & Borrow loan application is subject to normal underwriting criteria. You could borrow up to 4 times your savings 6 months after account opening date. Only regular continuous savings will be considered when determining the amount of the loan. 

What you will need

If you are over 18 and living in the Republic of Ireland, all you need for your loan application is:

  • Proof of income 
  • Proof of ID 
  • Proof of Personal Public Service Number (PPSN), such as a Employment Detail Summary (P60)
  • Proof of address 

For more details on what may be needed, see our required documents page.

Save & borrow loan calculator

How much would you like to borrow?

How much would you like to pay?

Loan Amount Loan Amount Change the loan amount to see what the monthly repayment would be. Close

Please fill in all the fields above to get started!

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