AIB GROUP PLC 29th June 2023
AIB Group retains Green Mortgage rates, raises interest rates for other mortgages, AIB
announces new Fixed Term deposit offerings with rates up to 2%
Customers can avail of Green Mortgages at more than 1% lower than non-green fixed rates
Mortgage Products
Following the European Central Bank's decision to raise interest rates by 4.0% since July 2022, AIB Group is today announcing an average weighted rate increase of 0.46% across its AIB, EBS and Haven fixed and variable rate mortgages in the Republic of Ireland.
AIB, EBS and Haven Green Mortgage fixed rates, which are available to customers whose home has an energy rating of B3 or higher, remain unchanged. This means that Green Mortgages are now priced lower than the equivalent non-green fixed rates by up to 1.35%, helping customers to save on their energy and mortgage costs while also helping save the environment*.
EBS and Haven are also extending their cashback offers. The EBS 3% Back in Cash and Haven €5,000 cashback offers were due to expire on 31st December 2023 and are now being extended to 31st December 2024.
Deposit Products
AIB is also launching two new Fixed Term Deposit offerings for our Personal and Business customers. The new Fixed Term offerings are:
- A 2 Year Fixed Term, at a rate of 2.00% Annual Equivalent Rate (AER), and
- A 6 month Fixed Term, at a rate of 0.75% AER.
The new Fixed Term Deposit products are available from tomorrow, 30th June, in branch and will be on the AIB Mobile App in the coming weeks. Today's announcement comes after increases to our regular saver products rate to 2.00% and our 1 Year Fixed Term Deposit rate to 1.50% earlier this month, both also available on the AIB Mobile App and in branch.
Mortgage Details
- With the exception of Green Mortgage fixed rates, AIB, EBS and Haven fixed rates will increase by between 0.15% and 0.70%, with the new rates set out in the tables below. The new fixed mortgage rates are effective from 30th June 2023. Customers who draw down their new mortgage by close of business 28th July 2023 can avail of the previous fixed rates. In order to draw down on 28th July 2023 all required documents must be submitted to and deemed valid by AIB by 25th July 2023.
- AIB, and Haven variable mortgage rates will increase by 0.65% and EBS's variable mortgage rate will increase by 0.45%. The bank will write to customers who hold variable rate mortgages confirming the new interest rate and effective date (August 2023).
- There is no change for customers with a tracker mortgage linked to the ECB rate.
Notes to Editor:
- * AIB's 5 year Green fixed rate mortgage rate is 1.15% lower than AIB's non-green 5 year fixed rate mortgage (both with an >80% LTV). The EBS 4 Year Green Mortgage rate is 1.35% lower than its 5 Year Fixed Mortgage rate. And the Haven 4 Year Green Fixed Mortgage rate is 1.20% lower than its 5 Year Fixed Mortgage rate. See tables below.
- A monthly repayment on a new €100,000 AIB 5 year Green fixed rate mortgage with a loan to value of 50-80% over a 25 year term will be unchanged at €513.65. A monthly repayment on a new €100,000 AIB 5 year non-green fixed rate mortgage with a loan to value of 50-80% over a 25 year term will be €572.10. The previous monthly repayment would have been €538.30.
- These new fixed mortgage rates will be applied to existing customers entering a new fixed rate period from 30th June 2023.
- The new mortgage rates apply to all Private Dwelling Home fixed and variable rate mortgages (AIB, EBS and Haven).
- A "new" mortgage is one that is new to AIB, EBS or Haven or is being switched to AIB, EBS or Haven.
-
For Deposits, the AIB Regular Online Saver offers a 2% return for the first €1,000 per month for
12 months. A rate of 0.10% applies after this. - There is a minimum entry point of €15,000 for 6 Month, 1 Year and 2 Year Fixed Term Deposit Account.
Media inquiries: paddy.x.mcdonnell@aib.ie087 739 0743 louise.y.kelly@aib.ie087 216 1545
AIB PDH Fixed Rates:
Current Rates | New Rates (Effective from 30 June | ||||||||||
PDH Fixed | 2023) | ||||||||||
Term | |||||||||||
50% - 80% | >80% | <50% | 50% - 80% | >80% | |||||||
<50% | |||||||||||
Green 5 | 3.65% | 3.75% | 3.85% | No change for Green 5 Year Fixed Rates | |||||||
Year | |||||||||||
High Value | |||||||||||
(4 Year | 3.75% | 3.85% | 3.95% | 4.20% | 4.35% | 4.55% | |||||
Fixed) | |||||||||||
1Year | 4.20% | 4.35% | 4.50% | 4.40% | 4.55% | 4.65% | |||||
2 Year | 4.20% | 4.35% | 4.50% | 4.45% | 4.60% | 4.70% | |||||
3 Year | 4.00% | 4.10% | 4.20% | 4.55% | 4.70% | 4.80% | |||||
4 Year | 4.05% | 4.15% | 4.25% | 4.60% | 4.75% | 4.85% | |||||
5 Year | 4.10% | 4.20% | 4.30% | 4.65% | 4.80% | 5.00% |
7 Year | 4.25% | 4.40% | 4.50% | 4.90% | 5.05% | 5.15% |
10 Year | 4.40% | 4.55% | 4.65% | 5.05% | 5.20% | 5.30% |
AIB PDH Variable Rates:
PDH | Current Rate | New Rate (Effective from 14 August | |||||||||
Variable | 2023) | ||||||||||
Rates | <50% | 50% - 80% | >80% | <50% | 50% - 80% | >80% | |||||
LTV | 3.10% | 3.30% | 3.50% | 3.75% | 3.95% | 4.15% | |||||
Variable | |||||||||||
Standard | |||||||||||
Variable | 3.50% | 4.15% | |||||||||
Rate | |||||||||||
EBS PDH Fixed Rates: |
Term | Current Rate | New Rate (effective | ||||
30 June 2023) | ||||||
Green 4 Year | 3.75% | No change for Green | ||||
4 Year | ||||||
1 Year Fixed Rate | 4.15% | 4.55% | ||||
2 Year Fixed Rate | 4.45% | 4.90% | ||||
3 Year Fixed Rate | 4.50% | 5.00% | ||||
5 Year Fixed Rate | 4.50% | 5.10% | ||||
EBS PDH Variable Rates:
LTV | Current Rate | New Rates (effective 23 |
August 2023) | ||
<=50% | 3.30% | 3.75% |
>50% <= 80% | 3.50% | 3.95% |
>80% | 3.70% | 4.15% |
SVR | 3.70% | 4.15% |
Haven PDH Fixed Rates: | |||||||||
PDH Fixed Term | Current Rate | New Rates (Effective from 30 | |||||||
June 2023) | |||||||||
Green 4 Year | 3.65% | No change for Green 4 Year | |||||||
1 Year | 4.40% | 4.55% | |||||||
2 Year | 4.40% | 4.65% | |||||||
3 Year | 4.10% | 4.75% | |||||||
5 Year | 4.20% | 4.85% | |||||||
7 Year | 4.40% | 5.05% | |||||||
10 Year | 4.60% | 5.15% | |||||||
Haven PDH Variable Rates:
PDH Variable Rates
<=50% LTV >50%<=80% >80%
SVR
Current Rate | New Rates (Effective from 15 | |||||
August 2023) | ||||||
3.10% | 3.75% | |||||
3.30% | 3.95% | |||||
3.50% | 4.15% | |||||
3.50% | 4.15% | |||||
AIB New Fixed Term Deposit Interest Rates:
The deposit rates for the additional Fixed Term Deposit products are as follows:
AIB Product | AER |
Personal Fixed Term Deposit - 2 Year Term | 2.00% |
Business Fixed Term Deposit - 2 Year Term | 2.00% |
Personal Fixed Term Deposit - 1 Year Term | 1.50% |
Business Fixed Term Deposit - 1 Year Term | 1.50% |
Personal Fixed Term Deposit - 6 Month Term
0.75%
Business Fixed Term Deposit - 6 Month Term
0.75%
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Disclaimer
AIB Group plc published this content on 29 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2023 13:30:06 UTC.
