Preferential Loan

Preferential Loan / Qualifying Home Loan

A preferential loan is a loan from the employer to the employee with no interest payable or interest is payable at a rate lower than the specified rate.

PAYE and PRSI are applied to the difference between the interest charged by the employer and the interest chargeable at the specified rate by Revenue amounts to the BIK to be applied.

Specified Rates

Qualifying home loan            4%

All other loans                       13.5%

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