Dublin: Permanent TSB is to increase its interest rates including fixed term mortgage interest rates and deposit rates from today. Permanent TSB said there are no changes for customers on existing fixed rates and there are no changes to its variable rates for new or existing customers.
Patrick Farrell, Retail Banking Director at the bank, said that any customer applying for a mortgage over €250,000 will see increases range from 0.05% to a maximum of 0.45%. The bank said it will raise interest rates on its home loan fixed rate products by an average of 0.45%.
The increases will range from 0.05% to 0.9% depending on the length of the fixed term mortgage, the size of the loan and the size of the loan relative to the value of the property in question.
Permanent TSB also said today that it will raise interest rates on certain deposit accounts from 0.2% on its Regular Saver Online/21-day Regular Saver to 1.15% on its five-year fixed term account.
It said that customers who have received an offer letter will have up until February 15, 2023 to complete the drawdown of their loans at existing rates or before their current loan offer expiration, whichever date is the earliest. The bank has also confirmed that existing customers can access the same fixed rates as new customers with the exception of one introductory offer.
The bank said the changes come after three interest rate increases from the European Central Bank in recent months.
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