NewIreland
Registered User
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- 19
4yrs left on a 5yr fixed term with BOI.
I'm interested in longish term fixed rates, so have been tempted by the KBC 10yr fixed offering.
I phoned BOI to investigate cost of breaking my current fixed rate early and was told my break fee is €0! So good news. However like others here I was also told that number may vary from day-to-day in future. When I said I might switch BOI also offered a new 5yr fixed rate 0.1% under my current (and the currently advertised) rate.
So my question (regardless of whether I switch or refix with BOI) is should I move quick to grab the €0 break fee or can I afford to wait a few months to see if other banks produce better offerings? Is this zero break fee likely to be reasonably stable? Or is there a high risk it’ll go up and so would I be better to break immediately?
I'm interested in longish term fixed rates, so have been tempted by the KBC 10yr fixed offering.
I phoned BOI to investigate cost of breaking my current fixed rate early and was told my break fee is €0! So good news. However like others here I was also told that number may vary from day-to-day in future. When I said I might switch BOI also offered a new 5yr fixed rate 0.1% under my current (and the currently advertised) rate.
So my question (regardless of whether I switch or refix with BOI) is should I move quick to grab the €0 break fee or can I afford to wait a few months to see if other banks produce better offerings? Is this zero break fee likely to be reasonably stable? Or is there a high risk it’ll go up and so would I be better to break immediately?