Shop around and save on loans

CONSUMERS can save hundreds of euro by shopping around for personal loans, a survey revealed yesterday.

The Irish Financial Services Regulatory Authority (IFSRA) found one-year variable rate loans of €2,000 could cost up to €250 euro more with certain institutions.

Out of all the financial institutions surveyed, AIB emerged as the cheapest for one-year personal loans of €2,000 euro. The total cost of credit for a one-year variable loan with AIB was €92.20 compared to €111.76 with Bank of Ireland and €116.68 with Permanent TSB.