BANK OF IRELAND ANNOUNCES DEPOSIT AND LOAN INTEREST RATE INCREASES
Bank of Ireland announces the following interest rate increases on deposits and loans, which come into effect on Wednesday, 9th July 2008.
Deposits
Interest rates for deposit accounts are being increased:
| Reserve Deposit/ Business Surplus |
Old Rate | Change in Rate | New Rate |
|---|---|---|---|
| Up to €24,999 | 1.85% | 0.25% | 2.10% |
| €25,000 to €99,999 | 2.15% | 0.25% | 2.40% |
| €100,000 to €499,999 | 2.25% | 0.25% | 2.50% |
| Over €500,000 | 2.50% | 0.25% | 2.75% |
| Demand Deposit | Old Rate | Change in Rate | New Rate |
|---|---|---|---|
| €0-€99,999 | 0.90% | 0.10% | 1.00% |
| €100,000 + | 1.30% | 0.15% | 1.45% |
Loans
Tracker Mortgages
Increase of 0.25% on all existing tracker mortgages
Increase of 0.25% on New Business Homeloan Trackers
Increase of 0.35% on New Business RIL Trackers
| Homeloans | Old Rate | Change in Rate | New Rate | APR | Repayment per €100,000 per month over 20 years |
|---|---|---|---|---|---|
| Standard variable rate | 5.44% | 0.35% | 5.79% | 5.9% | €702.79 |
| Investment variable rate | 5.94% | 0.35% | 6.29% | 6.4% | €731.35 |
| Personal Loans | Old Rate | Change in Rate | New Rate | APR |
|---|---|---|---|---|
| Overdraft | 13.10% | 0.40% | 13.50% | 15.6% with o/d fee |
| Loan & Term Loan | 12.00% | 0.40% | 12.40% | 13.0% |
| Small Business Loan Introduced Dec 2004 |
Old Rate | Change in Rate | New Rate |
|---|---|---|---|
| Amounts from €65,000 to €200,000 | 6.75% | 0.24% | 6.99% |
| Amounts from €25,000 to €64,999 | 7.75% | 0.24% | 7.99% |
| Amounts up to €24,999 | 8.75% | 0.24% | 8.99% |
| Business Loans | Old Rate | Change in Rate | New Rate |
|---|---|---|---|
| Overdraft | 10.40% | 0.40% | 10.80% |
| Term Loan & Loan Accounts | 9.35% | 0.40% | 9.75% |
Ends
8th July 2008
For further information contact:
Sharon McDonnell,
Group Corporate Communications
Tel: 01 604 3750
Mobile: 087 2269324