Irish Personal Loans Hit Record €2.9 Billion in 2025, Up 18.6%
Irish consumers borrowed a record €2.9 billion in personal loans in 2025, an 18.6% increase from 2024, driven by strong consumer confidence. Car loans and «other purposes» each exceeded €1 billion, while green personal loans surged over 27% to €150 million, reflecting a shift towards energy-efficient investments.
Irish people took out a record €2.9 billion in personal activity loans in 2025, according to a new report from the Banking and Payments Federation Ireland (BPFI). The total value of loans rose by 18.6% from 2024, with the number of loans increasing by 19% to almost 273,000.
Car loans accounted for over €1 billion, with 78,977 loans, a 19.3% increase in volume and 18.6% in value from 2024. The «other purposes» category, including holidays and weddings, also exceeded €1 billion. Home improvement loans reached €868 million.
Green personal loans saw a significant surge, with volume jumping 25.8% and value rising 27.7% to over €150 million. These loans, for items like solar panels and electric vehicles (EVs), averaged €23,105 in Q4 2025, more than double the overall average. The increase in green loans is partly attributed to rising energy costs and a focus on energy-saving measures.
BPFI chief executive Brian Hayes noted that the record drawdowns indicate strong consumer confidence and investment in major life purchases. He highlighted that all loan categories saw increases, with no single type driving the overall jump. The CSO reported a 39% rise in new private electric cars licensed in March 2026 compared to March 2025, and interest in pre-owned EVs is also growing due to affordability and fuel costs.