Bank of Ireland said today it would raise its fixed mortgage rates again and also introduce a new fixed deposit account for corporate customers, reports RTE.
The bank said it follows the European Central Bank’s cumulative 3.5% rate hike since July last year.
Bank of Ireland has increased mortgage rates by 0.5% for new and existing customers from today.
It said this includes customers who are coming to the end of their fixed rate term and want to renegotiate their mortgage, and customers with fixed rates or variable rates who want to switch to a fixed rate.
Its variable rates remain unchanged.
It said applicants who already have credit approval and have paid off their mortgages by May 5 can still take advantage of the previous fixed rates, reports RTE.
Bank of Ireland also said today that it will launch a new fixed deposit account for corporate customers at 0.50%. This would be limited to €250,000.
The new deposit account will be available from April 18, reports RTE.
Overall, the Bank of Ireland has now announced a cumulative 1.5% increase in its fixed rates since the ECB’s first change in July.
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