AIB has launched a special promotion, called Borrow & Save, in a bid to woo personal borrowers. The package offers a special low personal loan rate of 8.5 per cent to individuals with a minimum borrowing requirement of £2,000 (€2,540). This compares to a typical loan rate of 11.25 per cent, AIB says.

To qualify, borrowers must also open a personal savings plan and save a minimum of £20 per month for the duration of the loan which can be repaid over any period from 12 to 60 months.

Borrow & Save is a limited offer and is only available until the end of September.