The Bank of Ireland has announced a reduction of 0.25 percentage points in the rates for its 12 and 18-month fixed-term deposit accounts, effective next Tuesday. These changes are in response to recent European Central Bank rate cuts and will apply to new accounts only. Established customers can avoid the rate cuts by opening new accounts by 17 February. These reductions are indicative of a broader trend among banks adjusting their rates following ongoing ECB monetary policy changes, mirroring similar cuts by AIB on their deposit products.
The Bank of Ireland reduced the rates on its 12 and 18-month fixed-term deposits by 0.25 percentage points, following the ECB's recent rate cuts.
Customers can still enjoy the previous rates if they open their 12 or 18-month term deposit accounts by Monday, 17 February.
This reduction is a continuation of decreasing savings rates as the ECB lowers its key rates, impacting returns on fixed-term deposits.
AIB also lowered its fixed-term deposit rates by 0.25 percentage points, reflecting a broader trend among banks responding to the ECB's decisions.
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