From Wednesday 8th March, Permanent TSB is introducing a number of changes to interest rates including fixed term mortgage rates and deposit rates.
There are no changes for home loan customers on existing fixed rates and there are no changes to variable rates for new or existing home loan customers. The rates applicable to tracker mortgage customers continue to reflect the current ECB rate, in line with the specific terms and conditions of their loans.
Mortgage Interest Rate Changes:
The bank will raise interest rates on its suite of home loan fixed rate mortgage products by 0.75%.
Customers who have received an offer letter based on the existing fixed rates will have until Friday 2nd June to complete the drawdown of their loan at the existing rates or prior to their current loan offer expiration, whichever date is the earlier.
As previously announced, customers with offer letters based on the fixed rates that applied prior to 16th January continue to have until 14th April to complete the drawdown of their loans at those rates, or prior to their current loan offer expiration, whichever is the earlier.*
The changes announced today follow five rounds of interest rate increases from the European Central Bank, totalling 3%, in recent months.
This is Permanent TSB’s third fixed rate change in the period, with the first change (announced in November 2022) being a weighted average* increase of 0.45% and the second change (announced in January 2023) being a weighted average increase of 0.51%.
Deposit Interest Rate Changes:
The bank is increasing the rates paid to depositors as follows:
For demand deposits: the rate paid on the Online Regular Saver Account for amounts up to €50,000 will increase by 0.35% to 0.75%.
For notice deposits: the rate paid on the 21-Day Regular Saver Account for amounts up to €50,000 will increase by 0.35% to 0.75%.
For fixed term deposits: the rates paid on fixed term deposits from 6 months to 5 years will increase by between 0.20% and 0.50%. [See Notes to Editors for additional information.]
The new deposit rates will take effect from Tuesday 14th March.
Business Term Loan Rate Changes:
Variable rates for secured and unsecured Business Term Loans will increase for existing and new business customers as follows:
For secured: the rate will increase by 1% to 5.5%.
For unsecured: the rate will increase by 1% to 7.5%.
Notes to Editors:
New Mortgage Rates – effective from 8th March
|
Home Loan Fixed Rates |
New Rate |
|
2 Year Fixed (0-60% LTV) |
4.25% |
|
2 Year Fixed (60-80% LTV) |
4.35% |
|
2 Year Fixed (80-90% LTV) |
4.60% |
|
3 Year Fixed (0-60% LTV) |
4.25% |
|
3 Year Fixed (60-80% LTV) |
4.35% |
|
3 Year Fixed (80-90% LTV) |
4.60% |
|
5 Year Fixed (0-60% LTV) |
4.35% |
|
5 Year Fixed (60-80% LTV) |
4.45% |
|
5 Year Fixed (80-90% LTV) |
4.70% |
|
5 Year Fixed - Green (0-60% LTV) |
4.15% |
|
5 Year Fixed - Green (60-80% LTV) |
4.25% |
|
5 Year Fixed - Green (80-90% LTV) |
4.50% |
|
7 Year Fixed (0-60% LTV) |
4.55% |
|
7 Year Fixed (60-80% LTV) |
4.65% |
|
7 Year Fixed (80-90% LTV) |
4.90% |
|
4 Year Fixed <60% LTV (new business introductory offer) |
3.90% |
|
4 Year Fixed 60-80% LTV (new business introductory offer) |
4.00% |
|
4 Year Fixed 80%-90% LTV (new business introductory offer) |
4.25% |
|
Home Loan Fixed Rates >€250,000 |
New Rate |
|
3 Year (HVM) (≤ 60% LTV) |
4.05% |
|
3 Year (HVM) (>60% LTV & ≤ 80% LTV) |
4.15% |
|
3 Year (HVM) (>80% LTV & ≤90%) |
4.40% |
|
5 Year (HVM) (≤ 60% LTV) |
4.15% |
|
5 Year (HVM) (>60% LTV & ≤ 80% LTV) |
4.25% |
|
5 Year (HVM) (>80% LTV & ≤90%) |
4.50% |
|
5 Year (HVM) (≤ 60% LTV) Green |
3.95% |
|
5 Year (HVM) (>60% LTV & ≤ 80% LTV) Green |
4.05% |
|
5 Year (HVM) (>80% LTV & ≤90%) Green |
4.30% |
|
Fixed term deposit rates |
Current Rate |
New Rate |
Increase |
|
6 Month |
0.30% |
0.50% * |
+ 0.20% |
|
1 Year |
0.50% |
1.00% * |
+ 0.50% |
|
18 Month |
1.12% AER 0.75% |
1.86% AER 1.25% |
+ 0.50% |
|
3 Year |
3.03% AER 1.00% |
4.57% AER 1.50% |
+ 0.50% |
|
5 Year |
6.41% AER 1.25% |
7.73% AER 1.50 % |
+ 0.25% |
