AIB increases interest rates

FOLLOWING the European Central Bank’s (ECB) interest rate increase of 0.25%, has AIB announced changes to its lending and deposit rates, to take effect from close of business today.

ECB-related tracker mortgage rates and ECB-related standard variable home loan rates increase by 0.25% to 4%. Home mortgage standard variable buy-to-let rates also increase by 0.25% to 4.2%. AA loan rates (business) will increase by 0.25%, as will overdraft rates for personal and business customers.

The rate on a masterplan account will increase from 8.25% to 8.5%.