Bank of Ireland : to raise interest rates for mortgage and deposit products

Bank of Ireland to raise interest rates for mortgage and deposit products

Launch of new 1 Year Term deposit account for personal customers

Tuesday 24 January 2023: Bank of Ireland is increasing interest rates for a number of mortgage and deposit products. This follows cumulative increases of 2.5% in European Central Bank rates since July 2022:

Mortgages:

0.75% increase for fixed rates on new mortgages 0.50% increase for the fixed rates available to existing mortgage customers; this includes customers who are coming to the end of their fixed rate period and are seeking to re-fix their mortgage, and tracker rate or variable rate customers who wish to move to a fixed rate

Variable rates and tracker rates remain unchanged. Applicants who already have a credit approval and who draw down the mortgage by 21st February 2023, can still avail of the previous fixed rates.

Deposits:

0.50% increase for Regular Saver personal deposit accounts, allowing customers to earn 0.75% on Mortgage Saver, Goal Saver and Child Save accounts_,_ capped at up to €15k The Bank is launching a new 1 Year Term deposit account for personal customers at 0.50%; capped at €100k

The fixed rates on new mortgages are effective from today, while deposit rate changes will take effect this Friday (January 27).

Disclaimer

Bank of Ireland Group plc published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 16:18:01 UTC.