INTEREST RATES ON some of AIB’s mortgages have been reduced. 

The interest rate on the bank’s five-year fixed rate for non-green mortgages has come down by 0.65%.

Green mortgages offer a lower interest rate to people who are buying a more energy efficient home. 

There have also been cuts to rates at other arms of the AIB Group.

EBS’s green four-year fixed rate has been reduced by 0.35%, while some of Haven’s non-green mortgage rates have also come down by up to 0.35%.

The cuts to the AIB Group’s mortgages will come into effect tomorrow for new and existing customers, the bank said. 

AIB’s retail banking managing director Geraldine Casey said the bank was continuing “to take a balanced and measured approach to interest rate changes”.

She said the cuts could benefit tens of thousands of customers by saving them, in some cases, around €105 per month, or €1,270 a year.

“We understand that some customers are buying a home in areas where green properties are limited. These new non-green rates in AIB and Haven will provide significant support to those customers, while the EBS green fixed rate reduction is extremely competitive,” she added.