- Loan volumes in Q1 2026 rose by 14.5% year on year to 69,604, with loan values up by 15.3% to €788 million over the same period.
- Car loan activity in Q1 2026 reached the highest levels on record with 22,366 loans valued at €296 million.
- Largest growth in activity in Q1 2026 was seen in green personal loans, which jumped by 22.9% in both volume and value terms year on year, reaching €42.7 million in value.
Personal loan activity, including car, home improvement and green loans, continued to grow in Q1 2026 with annualised figures showing that there were 281,814 personal loans drawn down in the twelve months ending March 2026. These are the highest volumes since the data series began, while the value of personal loan drawdowns over the same period exceeded €3 billion for the first time. The BPFI Personal Loan Report for Q1 2026, which is issued on a quarterly basis, details the volume, values and uses of personal loans drawn down from participating BPFI member banks. The following are the key figures from the report:
Total loans
- There were 69,604 personal loan drawdowns in Q1 2026, valued at €788 million, representing an increase of 14.5% in volume and 15.3% in value year on year.
- The average personal loan value rose by €77 year on year to €11,316.
- In annualised terms, there were 281,814 personal loans drawn down in the twelve months ending March 2026, with the annualised value exceeding €3 billion.
Car loans
- The number of car or auto finance loans rose by 14.4% year on year to 22,366 in Q1 2026, while the value of loans increased by 14.1% to €296 million.
- The average car loan in Q1 2026 was €13,233, down from €13,267 a year earlier.
- Annual figures show that there were 81,791 car or auto finance loans valued at almost €1.1 billion in the twelve months ending March 2026.
Home improvement loans
- There were 17,334 home improvement loans in Q1 2026, up by 12.8% year on year. These were valued at €229 million, 15.4% higher than Q1 2025.
- The average home improvement loan value in Q1 2026 was €13,186 compared to €12,886 in Q1 2025.
- In annualised terms, there were 70,712 home improvement loans, valued at €899 million.
Other loans – including education, holidays and special occasions such as weddings
- A total of 29,904 loans for other purposes were drawn down in Q1 2026, a rise of 15.7% in volume year on year, with values rising by 16.7% to €263 million over the same period.
- The average value for other loans in Q1 2026 was €8,799 up from €8,725 in Q1 2025.
- There were 129,311 loans drawn down on an annualised basis, valued at €1,060 million.
Green loans
- The value of green personal loans rose by 22.9% year on year to €42.7 million in Q1 2026. The number of green loans rose by 22.9% over the same period to 1,882.
- The average green loan was relatively high at €22,692 in Q1 2026, over twice the average of €11,316 for all loans in the same quarter.
- In annualised terms, there were 6,867 green loans, valued at €160.3 million, in the twelve months ending March 2026.
Commenting on today’s report, Ali Ugur, Chief Economist, BPFI said:
"Our latest personal loans data shows that there were almost 70,000 (69,604) loans drawdown in Q1 2026, up 14.5% year on year, while values reached €788 million, up 15.3% over the same period and the highest quarterly value since the data series began. In fact, we saw increased activity across all loan categories with car loan activity reaching the highest levels on record with 22,366 loans valued at €296 million, up 14.4% and 14.1% year on year in volume and value respectively. Meanwhile, there were over 17,000 (17,334) home improvement loans drawn down, up 12.8% on Q1 2025, and loans for other purposes including education, holidays and special occasions such as weddings rose by 15.7% over the same period to almost 30,000 (29,904).”
Focussing on green loans, Mr Ugur continued:
“In line with recent trends, the largest growth in activity in Q1 2026 was seen in green personal loans (albeit from a lower base) which jumped by 22.9% in both volume and value terms year-on-year, reaching €42.7 million in value. Green loans include green car and home improvement loans and the growth in these segments may reflect broader trends in the green economy. Notably, CSO data from Q1 2026, shows that electric and plug-in hybrid electric new cars outnumbered petrol and diesel cars for the first time showing increasing demand for green cars. The Sustainable Energy Authority of Ireland (SEAI) also reported 29,000 applications for home energy upgrade grants in Q1 2026 almost double (up 96%) the number in Q1 2025.”
Reflecting on broader trends in personal loan activity in the past twelve months, Mr Ugur added: “In annualised terms there were 281,814 personal loans drawn down in the twelve months ending March 2026. These are the highest volumes since the data series began in 2020, while the value of personal loan drawdowns over the same period exceeded €3 billion for the first time, pointing to continued consumer confidence with many households seeking to invest in major life purchases.”
The BPFI Personal Loans Report Q1 2026 can be downloaded here.
