Bank of Ireland raises fixed rates by 0.5%

Applicants who already have a credit approval and who draw down the mortgage by May 5th can still avail of the previous fixed rates.

BoI getting away yet again with increasing mortgage rates but not increasing personal deposit rates.

BoI clearly ignoring Leo Varadkar's “can't have it both ways” speech.

Still baffled as to why they haven’t increased their variable. With ECB rates of 3.5% there is no way a variable rates of 3.9% or so make sense for them, something strange afoot and not sure their share holders will approve of the strategy. Maybe better deposits and higher variable rate announcements will come out together? I can’t see BoI keeping deposit rates so low without losing balances when Raisin and the money markets are now offering around 3%. Still think higher variable rates are only a matter of time…

There are loads of customers like my parents, with thousands on deposit, who haven't a clue about Raisin, and whose deposits are very sticky.

Does anyone think BOI will raise their rates again in the coming months? I know noone can know for sure but have a friend who is due to come to the end of their fixed rate with them and was looking for some advice.

If your friend is concerned, he can break out of his fixed rate now and fix again. The early repayment fee should be close to zero.

Brendan

Lightning said:

BoI getting away yet again with increasing mortgage rates but not increasing personal deposit rates.

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Why would BoI increase the deposit rates?
They are awash with deposits.

Brendan