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Eamonn Farrell/Photocall Ireland

AIB increases interest rates - but mortgage repayments safe for now

AIB increases saving and lending rates, but there’s no move for standard rate mortgages for the time being.

AIB HAS ANNOUNCED it is to increase its interest rates for both its lenders and savers – but will not be increasing the interest on standard variable rate mortgages for the time being at least.

The bank this afternoon announced that it would be increasing its interest rates on savings accounts by between 0.25 and 0.5 per cent, depending on the account type and the amount being saved, in line with the ECB’s interest hike earlier this month.

Loan and overdraft rates for personal customers are also being increased by 0.25 per cent – but crucially the bank said it would not be increasing the interest on its Standard Variable Rate, and Loan-to-Value variable rate mortgages.

The rates on those mortgages remain ‘under review’, the bank said. The interest rate on tracker mortgages has been increased by 0.25 per cent since last months.

AIB’s new rates come into effect after the close of business tomorrow.

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