Established in 1825, Allied Irish Bank is the largest of the retail and commercial banks in Ireland. Permanent TSB, for example, charges 17.7pc interest on overdrafts. Selected banks may open on Saturday mornings. BoI offers the cheapest such loan. This isn't just a Dublin problem - rents are climbing in most counties, including Kildare, Cork, Galway and Louth. Your personal finance questions – Why am I paying the same as my husband for motor insurance? You must show evidence that you have immediate access to at least €7,000. AIB also offers a loan to students to cover the student contribution charge. Bank of Ireland offers rewards worth €100 for using its student account, including ice-skating passes, surf lessons, free pizza and cinema passes. Ireland has a modern financial system and banking is simple and convenient. Read the leading stories from the world of business. Permanent TSB and Ulster Bank fare poorly here too. With Freshers' week kicking off in many colleges around the country tomorrow, students are at risk of paying thousands more to borrow money than they need to - if they open the wrong bank account. KBC, Permanent TSB and Ulster Bank don't offer interest-free loans. The AIB Student Plus Account is specially designed for you. Irish private and boarding schools provide full immersion into linguistic environment that help improve command of foreign languages and overcome language barriers. Visa and Mastercard are widely used, while American Express and Diners cards may not always be accepted. You would pay almost €15,000 in interest if you repaid €25,000 over 12 years - but less than €6,000 in interest if you repaid it over five years. As long as the loan is repaid within three years, no interest is charged - otherwise, the interest rate is 9.7pc. Be sure you can cover the cost of rent, bills, food, clothes, travel and social life - these expenses could clock up to €1,300 a month. Rankings: The 9 best universities in Ireland for 2021/2022. These students can borrow up to €2,500 a year interest-free for three years. However, there are still a lot of transactions which students are charged for - including charges for not having enough money in your account to clear a direct debit or standing order. Don't live too far out from college, however, as you will face higher commuter costs should you do so. The credit limits (that is, the most you can borrow) on student credit cards are low. A student who wants to borrow €10,000 from AIB for example will be hit with a 10.33pc interest rate - if he's not studying one of the courses which makes him eligible for an interest-free loan. AIB's student credit card has a credit limit of €600. Learn to cook because unless you're loaded, you can't afford to eat out all the time. Instead concentrate on how cheaply you can get money out of your bank - because with college bills running into the tens of thousands, chances are you will need to borrow money at some stage. © Independent.ie, Former RTE broadcaster Mike Murphy joins pro-Palestinian protest in Dublin, Flock of sheep claim a fluffy dog as one of their own, Ireland's Eurovision hopeful Lesley Roy thanks former school ahead of competition, Take a look at Ireland's largest domestic passenger ferry, linking Galway and the Aran Islands, VIDEO: Bride and groom treat guests to special set dance, Revealed: First-time buyers to get half of new-build houses, Cash in the bank: How to make your savings work for you. KBC: Costs almost €2,000 to borrow €5,000. You are unlikely to have proof of address in the form of a utility bill, on arrival. After its long-awaited arrival Bank of Ireland customers, including students of course, can finally enjoy Google Pay. Ulster Bank: Costs nothing to borrow €2,500. However, if you can, repay the loan in full each month rather than the interest only - otherwise, that loan will be more expensive in the long run and you will also have a large loan left to clear when you leave college. Now after you have seen all the pros and cons of what is on offer you see that the difference between irish banks is not that different. BoI's smaller interest-free loan - of up to €1,500 a year - is available to all students, regardless of discipline. As a foreign student living in Ireland, I had some challenges before getting my bank account. Find this out here: The best of the best. When acting as an insurance intermediary the Irish League of Credit Unions is regulated by the Central Bank of Ireland. A low credit limit should discourage you from borrowing too much - though you should watch out for any penalties that you're hit with should you go over that limit. At best private and boarding schools in Ireland foreign students can study interesting courses combined with exciting entertainment programs. You must repay the loan in full within a year. Known for its welcoming culture and outstanding universities, Ireland attracts tens of thousands of students from abroad every year. Learn to budget whatever income you get. The Bank of Ireland Student Credit Card is specifically designed to suit your budget, lifestyle and financial needs. These fees can be as high as 3.5pc of the value of the transaction, depending on whether you use your card to buy something or to withdraw cash. Most banks now offer loans to parents to help them cover the cost of these fees - and other college bills. The biggest and most popular bank in Ireland, AIB has a great mobile app, a large branch network, and was one of the first banks to introduce both Google Pay and Apple Pay to the Irish market. KBC Bank is the most expensive bank to borrow money from if you are a student. This is the estimated cost of living in Ireland for a student for one academic year. At this rate, it would cost €223 to borrow €3,000 over a year - that's almost twice as expensive as BoI's college finance loan. 3. Students, find the loan to best suit your needs with our student loan tool. Steer clear of expensive debt, such as credit cards or moneylender loans, as these will come back to haunt you. So forget about free flights and free vouchers when choosing your student bank account. The larger loan - of up to €7,500 - is offered to students in their last three years of college who are studying medicine, dentistry, veterinary science, pharmacy, accountancy, IT, telecoms or engineering (non-civil). We think the best way to learn about banking is by working in a bank. And it is 71.05% state-owned. The AIB Student Plus Account is a current account designed to make it easy for you to manage your banking in college, so it doesn’t interfere with your studies or your socialising. Therefore, it is not possible to open a bank account from overseas. Banking costs vary, however, many banks offer special student rates or even 'free banking' so it is well worth shopping around before opening an account. Bank Of Ireland offers a Student Credit card that comes with free multi-trip travel insurance that covers an unlimited number of trips of up to 120 days each year. Ulster Bank is the second most expensive for parental loans. We found that AIB is the best bank to do your student banking with - followed closely by BoI. Low credit limits work in your favour because it is best to avoid credit card borrowing as a student. The bank is headquartered in Dublin and employs around 10,000 staff. AIB's parent student finance loan, which charges 8.73pc interest, is the second-cheapest parental loan on the market. For international students banking in Ireland, the cost ranges between € 15,250 to €18,000. It doesn't offer any interest-free loans or overdrafts - and as it doesn't offer special student loans, students get hit with the same interest rate as anyone else who takes out a personal loan with the bank. You may need to take up part-time work to generate income. It is, however, a fraction of the loans offered to the students in AIB's and BoI's preferred courses. BoI: Costs nothing to borrow €850 - for the first six months. Irish schools include religious schools, non-denominational schools and schools which teach the national curriculum in Gaelic. Credit unions in Northern Ireland are authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 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