AIB has announced changes to its lending and deposit rates, with effect from close of business, Tuesday, 27th January 2009.
This follows the ECB interest rate reduction of 0.50% which was announced on 15th January 2009.
On the mortgage side, the standard variable rate for owner occupier mortgages decreases by 0.50% to 3.25%. The standard variable rate for residential buy-to-let mortgages decreases by 0.25% to 4.45%. All ECB Tracker related mortgages decrease by 0.50%.
Personal loan and overdraft rates for personal customers remain unchanged. The Bankâ€™s standard variable ‘AA’ loan rate for business loans decreases by 0.25%. The Bankâ€™s â€˜AAâ€™ overdraft rate for business customers also decreases by 0.25%.
The Bankâ€™s High Interest Current Account rate reduces by 0.75% to 2.25% (AER).
On the deposit side, the rate on the Parent Saver account decreases by 0.50% to
8.25% (AER). The online Personal Savings Plan rate remains unchanged at 2.75% (AER). The online Notice 7 account rate on balances up to â‚¬10,000 also remains unchanged, at 3.75% (AER). The Regular Saver rate decreases from 5.75% (AER) to 5.25% (AER). Special Term account rates are also reduced – in the case of the 3 year account to 2.60% (AER) and in the case of the 5 year account to 3.00% (AER). The Access 30 account for amounts from â‚¬100,001 to â‚¬2,000,000 reduces to 4% (AER).