Permanent TSB has launched an online personal loan platform through its Open24.ie banking channel.

Loans of up to €15,000 can be approved online and transferred to a borrower’s account within 15 minutes of starting the application, the bank said on Sunday.

"We have listened to our customers and delivered an online proposition which meets their expectations of speed and simplicity." said Marcus Brady, head of consumer finance at PTSB.

“We have made the application process simple, and our instant decision on loan approval means the customer can have the funds in place to drive away in their dream car, give their home a facelift, sign up for college or book a luxury holiday in the time it takes to have a coffee,” he said.