BoI to widen product availability

Bank of Ireland Business Banking will make its new interest rate risk management product available to a wider range of SME customers.

LoanFit helps customers to manage interest rate changes by fixing or capping an agreed interest rate. The bank will offer the facility to customers borrowing more than €150,000.

The bank said an interest rate hike of 0.5% would result in a rise of €2,500 in annual repayments on a €500,000 loan.