AIB Should an AIB customer accept the current very high prevailing tracker rate?


New Member
Hi Brendan

Forgive me if this has been asked already, but do you have any advice on what to do regarding interest rates with the AIB at present? When the Tracker Redress issue first started you will be aware that we were offered the 'Prevailing Tracker Rate' - I opted into this even though the rate at the time was higher than the Variable Rate that I was on at the time and I'm wasting money every single month. I did not know what was best to do at the time, so I went with it rather than doing nothing.

Is it best to hold onto this rate or try and change to a different one? I know it is nowhere near the true Tracker Rate, and I'm note sure if I am still tied into any contractual period with the Prevailing Tracker Rate.

Many Thanks


Frequent Poster
Why did you opt in when it was more expensive than the SVR? A tracker in itself is not necessarily a cheap product. It’s just worked out that way over the past 10 years because the ECB rate has been so low. The ECB rate is now 0% so your tracker product can only get more expensive if and when rates go up. It will all be a moot point if we get redress but in the short term I can see no advantage to staying on the high tracker rate they offered with the €1615 compensation.