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Permanent TSB is introducing a number of changes to interest rates including fixed term mortgage rates and deposit rates.  The changes follow three rounds of interest rate increases from the European Central Bank in recent months. 

There are no changes for customers on existing fixed rates and there are no changes to the Bank’s variable rates for new or existing customers.

Mortgage Interest Rate Changes:

The bank will raise interest rates on its suite of home loan fixed rate products by a weighted average of 0.45%*. The increases will range from 0.05% to 0.9% depending on (1) the length of the fixed term, (2) the size of the loan and (3) the size of the loan relative to the value of the property in question (the LTV).

Customers who have received an offer letter will have 90 days (up until 15th February, 2023) to complete the drawdown of their loans at existing rates or prior to their current loan offer expiration, whichever date is the earliest.

Customers on a Standard Variable Rate (SVR) who transferred to Permanent TSB earlier this month from Ulster Bank are benefitting from Permanent TSB’s lower SVR rate with a .35% reduction in their previous Ulster Bank SVR rate. 

The bank has also confirmed that existing customers can access the same fixed rates as new customers with the exception of one introductory offer.

Deposit Interest Rate Changes:

Permanent TSB is also announcing that it will raise interest rates payable on certain deposits from 0.2% (Regular Saver Online/21-day Regular Saver) to 1.15% (5-year fixed term).

Comment by Patrick Farrell, Retail Banking Director:

“For any customer applying for a mortgage over €250,000 the increases range from 0.05% to a maximum of 0.45%. We are seeking to balance the reality of the increased interest rate environment with the need to provide a competitive offering to our mortgage customers and to provide certainty, in particular, to those customers who are already advanced on their mortgage journey.

We also recognise the need to re-commence increasing deposit rates for savers and we are pleased to start this today by introducing increases to our Regular Saver and Fixed term deposit accounts’’                                    

Editor’s Note:

  1. *weighted average equals the average increase across all fixed rate mortgage products based on current lending volumes

  2. This is a press release which covers the main points of this announcement but it does not provide detail on every aspect of the changes. Customers should contact the Bank for information on how the changes will impact on their individual circumstances and should seek independent financial advice. Terms and conditions apply to Permanent TSB loan and deposit products.

  3. New Mortgage & Deposit Rates

New Mortgage Rates – effective from 18/11/2022

Home Loan Fixed Rates

New Rate

2 Year Fixed (0-60% LTV)


2 Year Fixed (60-80% LTV)


2 Year Fixed (80-90% LTV)


3 Year Fixed (0-60% LTV)


3 Year Fixed (60-80% LTV)


3 Year Fixed (80-90% LTV)


5 Year Fixed (0-60% LTV)


5 Year Fixed (60-80% LTV)


5 Year Fixed (80-90% LTV)


5 Year Fixed  - Green (0-60% LTV)


5 Year Fixed  - Green (60-80% LTV)


5 Year Fixed  - Green (80-90% LTV)


7 Year Fixed (0-60% LTV)


7 Year Fixed (60-80% LTV)


7 Year Fixed (80-90% LTV)


4 Year Fixed <80% LTV (new business introductory offer)


4 Year Fixed 80% <90% LTV (new business introductory offer)


Home Loan Fixed Rates > €250,000

New Rate

3 Year (HVM) (≤ 80% LTV)


3 Year (HVM) (>80% LTV & ≤90%)


5 Year (HVM) (≤ 80% LTV)


5 Year (HVM) (>80% LTV & ≤90%)


5 Year (HVM) (≤ 80% LTV) Green


5 Year (HVM) (>80% LTV & ≤90%) Green




Deposit Rates – effective from 22/11/22  


New Rate

Online Reg Saver (≤€50,001)


Notice Variable

New Rate

21 Day Regular (≤€50,001)


Fixed Term

New Rate

6 Month


1 Year


18 Month

AER 0.75%


3 Year

AER 1.00%


5 Year

AER 1.25 %

6.41 %



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