AIB reduces interest rates

AIB announced changes to its lending and deposit rates, with effect from close of business today.

This follows the ECB interest rate reduction of 0.50% which was announced on November 6, 2008.On the mortgage side, the standard variable rate for owner-occupier mortgages decreases by 0.50% to 4.50% and for buy-to-let customers by 0.50% to 4.70%. ECB tracker-related mortgages decrease by 0.50%.

Overdraft rates for personal and business customers decrease by 0.50%. The bank’s standard variable ‘AA’ loan rate for business loans also decreases by 0.50%. The bank’s standard variable ‘A’ loan rate remains unchanged.