Personal loan activity including car, home improvement and green loans hit another record high last year, according to the latest figures from Banking & Payments Federation Ireland (BPFI).
Loan values were up by 15.7% to €776 million, and volumes were up by 17.6% to 73,626 compared to Q3 2024, reaching the highest quarterly levels since the data series began in 2020.
It follows a previous record high of total drawdowns of €754m in the second quarter last year.
Today’s figures show the number of car loans rose by 22.7% year on year to 20,954.
Car loan values were up by over 16% to €267 million, with the number of loans up 22.7% in the same period to 20,954.
BPFI said the largest spike was in green personal loans which jumped by 31.5% in value year on year to €42.1 million and rose 34.5% in volume to 1,788.
The average green loan was relatively high at €23,567 in Q3, more than twice the average of €10,537 for all loans in the same quarter.
Home improvement loans were up by 11.5% year on year valued at €230 million, and 12.8% higher in value than Q3 in 2024.
While the figures show the average home improvement loan value was €12,758 up from €12,606 in the same period the previous year.
Meanwhile, a total of 34,618 loans for other purposes – including education, holidays and special occasions such as weddings – were drawn down in the three months from July to September, a rise of 18% in volume with values rising by 17.4% to €278 million
Commenting on today’s report, Brian Hayes, Chief Executive, BPFI said the surge in green personal loans showed the highest levels since they began tracking green loan data in 2022.
“This surge may be partly attributed to the Home Energy Upgrade Loan Scheme (HEULS) introduced in 2024, which aims to make residential energy upgrades more accessible and affordable for eligible homeowner,” he said. “Over 750 loans have been drawn down to date, indicating strong consumer interest.”
According to the data the average personal loan value fell by €172 year on year to €10,537.
“This is its first decline since the beginning of 2023, dropping by €172 year on year to €10,537. The average car loan value dropped by €677 between Q3 2024 and Q3 2025 to €12,757.” said Mr Hayes.
“The average green loan, although still more than twice the overall average personal loan value, also experienced a decline, dropping by €538 over the same period to €23,567. However, average home improvement loans bucked the trend, with the average value increasing by €152 to €12,758, ” he said
BPFI’s figures show that in the first nine months of 2025 there were 205,354 personal loan drawdowns valued at over €2.2 billion, more than double the volume and value in the same period of 2021.
“Additionally, the Central Bank of Ireland reported that medium-term household loans (over 1 year and up to 5 years) reached an outstanding value of almost €11.9 billion by the end of September 2025, the highest level since June 2012,” said Mr Hayes.
The BPFI Personal Loan Report, which is issued on a quarterly basis, details the volume, values and uses of personal loans drawn down from participating BPFI member banks.
