AIB GROUP PLC 2nd February 2023
AIB Group to raise interest rates for mortgages and deposits
Following the European Central Bank decision to raise interest rates by 3.0% since July 2022, AIB Group is today announcing an average rate increase of 0.50% across its AIB fixed and variable rate mortgages and Haven fixed rate mortgages in the Republic of Ireland, while introducing increased savings rates across a range of variable deposit products for personal and business customers.
Mortgage Rates
- AIB and Haven fixed rates will increase by varying amounts and the new rates are set out in the table below. The new fixed mortgage rates are effective from 3rd February 2023. Customers who draw down their new mortgage by close of business 3rd March 2023 can avail of the previous fixed rates.
- AIB's competitive variable mortgage rates will increase by 0.35%. The bank will write to customers who hold variable rate mortgages confirming the new interest rate and effective date (14th March 2023).
- Customers with a tracker mortgage linked to the ECB rate will see changes to their interest rate applied in line with their contract following today's ECB rate increase. We will write to these customers confirming the new interest rate and effective date.
AIB and Haven continue to offer lower green mortgage fixed rates to customers buying homes with an energy rating of B3 or higher. EBS rates remain unchanged.
Deposit Rates
AIB will be offering customers increased rates across a range of variable deposit products, providing all new and existing customers interest on their savings. From February 21st the following increased rates will apply:
- AIB Regular Online Saver will offer a 1% return (currently 0.10%) for the first €1,000 per month for 12 months.
- AIB Personal Online Notice 7 account will offer a return of 0.25% (currently 0%) for customers who wish to have the option of seven days' notice for withdrawal.
- AIB Personal and Business Demand Deposit accounts will increase from 0% to 0.10%.
We continue to offer the AIB 1 Year Fixed Term Deposit Product at a rate of 0.50% for personal and business customers with deposit balances of greater than €15,000.
For further information on our savings and deposit products please see the tables below
Notes to Editor:
- The new rates apply to all Private Dwelling Home and Buy to Let new fixed rate mortgages (AIB & Haven).
- A "new" mortgage is one that is new to AIB or is being switched to AIB.
- A monthly repayment on a new €100,000 AIB five-year green fixed rate mortgage with a loan to value of 50-80% over a 25 year term will be €513.65. The previous monthly repayment would have been €481.74.
- These new fixed rates will be applied to existing customers entering a new fixed rate period from 3rd February 2023.
- Haven variable rates remain unchanged.
Media inquiries: paddy.x.mcdonnell@aib.ie087 739 0743
louise.y.kelly@aib.ie087 216 1545
AIB Updated PDH Fixed Rates (Effective from 3rd February 2023)
PDH Fixed Term | <=50% | >50% <= 80% | >80% | ||||
Green Mortgage (5 Year | 3.65% | 3.75% | 3.85% | ||||
Fixed) | |||||||
High Value (4 Year Fixed) | 3.75% | 3.85% | 3.95% | ||||
1-2 Years | 4.20% | 4.35% | 4.50% | ||||
3 Years | 4.00% | 4.10% | 4.20% | ||||
4 Years | 4.05% | 4.15% | 4.25% | ||||
5 Years | 4.10% | 4.20% | 4.30% | ||||
7 Years | 4.25% | 4.40% | 4.50% | ||||
10 Years | 4.40% | 4.55% | 4.65% |
AIB Updated PDH Loan to Value Variable rates - (Effective from 14th March 2023)
PDH Loan to Value | <=50% | >50% <= 80% | >80% |
Variable Rates | |||
3.10% | 3.30% | 3.50% |
AIB Updated PDH Standard Variable rate (not available to new lending) - (Effective from 14th March 2023)
AIB PDH Standard Variable Rate
New
3.50%
AIB Deposit Rates (all increased rates effective from 21st February 2023)
AIB Product | Existing Rate | New Rate | |||||
Regular Saver | 0.1% up to €12,000 | 1% up to €12,000 | |||||
0% thereafter | 0.10% thereafter | ||||||
Junior / Student Saver | 1% up to €1,000 | 1% up to €1,000 | |||||
0% above €1,000 | 0.10% above €1,000 | ||||||
Online Notice 7 | 0% | 0.25% | |||||
Personal Demand | 0% | 0.10% | |||||
Deposit Account | |||||||
Business Demand | 0% | 0.10% |
Deposit Account | ||
1 Year Personal Fixed | 0.50% | 0.50% |
Term Deposit Account | ||
1 Year Business Fixed | 0.50% | 0.50% |
Term Deposit Account | ||
Haven Updated PDH Fixed Rates (Effective from 3rd February 2023):
PDH Fixed | New Rates | ||||
Term | |||||
Green 4 Year | 3.65% | ||||
1 Year | 4.40% | ||||
2 Year | 4.40% | ||||
3 Year | 4.10% | ||||
5 Year | 4.20% | ||||
7 Year | 4.40% | ||||
10 Year | 4.60% | ||||
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Disclaimer
AIB Group plc published this content on 02 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2023 15:40:05 UTC.
