PTSB reduces rates on fixed-rate mortgage products by up to 0.45%

• Largest rate reductions across higher Loan to Value products
• Rates on green mortgages reduce by up to 0.20%

PTSB has announced it is cutting its fixed-rate mortgage products by up to 0.45%. The new rates come into effect from Tuesday 20 January 2026 and are available to both new and existing personal customers.

This is the sixth set of reductions to fixed-rate mortgages that PTSB has announced since December 2023 and reflects the Bank’s commitment to competing in the mortgage market and providing more choice for customers.  

Rate reductions apply across PTSB’s 3-year, 4-year, 5-year and 7-year fixed-rate terms. The most significant reduction is for the >80-90% Loan to Value 7-year fixed term product, which reduces by 0.45% to 3.60%. For example, this means that a customer with a balance of €200,000 on this new >80-90% LTV 7-year fixed rate would save €47 per month, based on a remaining 20-year term.

Rates on certain green mortgages are also reducing by up to 0.20%.

Customers whose loan applications have been approved at the current rates but who have not drawn down will automatically benefit from the new, lower rates. Customers whose applications are at the pre-approval stage will also benefit from the new lower rates.

These new rate reductions are in addition to PTSB’s existing competitive 2+2 mortgage cashback offering*, where customers receive 2% cashback within 40 days of mortgage drawdown and those who pay their mortgage via a PTSB Explore account also benefit from a further 2% cashback on mortgage repayments up to 31 December 2030.

The reductions to fixed-rate mortgage products follow PTSB’s announcement last week to offer a market leading rate of 2.99% and reductions of up to 0.56% on SBCI Home Energy Upgrade Loans.

Dermot Ryan, Head of Bank Products and Pricing Strategy at PTSB, said:

“As one of the country’s leading retail banks, PTSB is fully committed to competing in the Irish mortgage market and providing increased choice for customers, including generous cashback offerings. The new lower fixed-rate mortgages should help First Time Buyers and provide more options for those seeking rate certainty for longer terms.”

Sample product changes

• 7-year fixed rate (>80-90% LTV) is reducing by 0.45% to 3.60%
• 5-year fixed rate (>80-90% LTV) is reducing by 0.30% to 3.75%
• 4-year fixed rate (>60-80% LTV) is reducing by 0.15% to 3.25%
• 3-year fixed rate (>80-90% LTV) is reducing by 0.15% to 3.90%

For Green mortgages (BER of A1 to B3), the new rates will be as follows:

• 5-year Green mortgage (>80-90% LTV) is reducing by 0.20% to 3.60%
• 5-year Green mortgage of €250,000 or more (>80-90% LTV) is reducing by 0.20% to 3.50%

For higher value mortgages, new rates will be as follows: 

• 3-year higher value mortgage of €250,000 or more (>80-90% LTV) is reducing by 0.15% to 3.70%
• 5-year higher value mortgage of €250,000 or more (>80-90% LTV) is reducing by 0.25% to 3.60%

The rate reductions for each term will vary depending on the LTV band.

Notes to Editor:

1. 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 PTSB for information on how the changes will impact on their individual circumstances. Terms and conditions apply to PTSB products.
2. PTSB’s Green mortgage product is a key component of our sustainability proposition and offers customers a lower interest rate where their mortgage is secured on a home with a Building Energy Rating certificate (BER) of A1 to B3.

* PTSB’s 2% lump-sum cashback offering is available on both fixed rate and variable rate personal mortgages, excluding the 4-year Fixed Home Loan New Business Rates, tracker, buy-to-let, negative equity and applicants refinancing an existing PTSB Mortgage.