AIB has announced a reduction in fixed-term savings rates by 0.25 percentage points, impacting both its One-Year and Two-Year products. While the higher rates are being lowered, the bank is making it easier for savers by reducing the minimum balance for its Personal Fixed Term Deposit from €15,000 to €5,000. This change, effective from February, encourages more customers to invest with AIB, despite the overall trend of decreasing interest rates across the sector in response to ECB policy adjustments.
AIB is reducing rates on two fixed-term savings products by 0.25 percentage points. The Fixed Term Two-Year rate will change from 3.02pc to 2.77pc APR.
This makes it easier for savers to get a return on more of their money. This account gives a gross return of up 5.58pc at maturity over a two-year term.
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