Loan with AIB

Hi there,

I plan on a loan from AIB to pay off my credit union for about 10.000 Euro. My question is if I make an early repayment - it says I can do this, do I still have to pay them the interest that was due for the period of the loan. Say for example its over 5 years, and the total interest is 2,000... for example do I still need to give them the 5 years worth of intertest?

Maybe a stupid question but i've never had a bank loan. ([broken link removed])

As far as I know, if you pick a variable you can pay off early. It's when you go with a fixed that you will pay a penalty for early repayment.

Open to correction though.

AIB are not keen on taking on loans from other institutions. Have they approved it yet?
I would be very surprised if they did in the current climate. Correct me if I'm wrong.

Yes they approved it online straight away.... Ill call them to clear up

thanks

John