We're writing to let you know about some changes we are making to your accounts, specifically to the interest rates we offer and to our terms and conditions.
The first change is to interest rates. Globally interest rates have been exceptionally low for some time in many countries, including our own. Unfortunately, as a result we have to lower the interest rates we offer on many of our deposit accounts from 12 January 2021. In many cases the rate will be zero.
This table shows what the rates are now and what they will be from 12 January 2021. You will also be able to find more information on all our savings options at www.aib.ie, or at any of our branches.
AER is the annual equivalent rate. Rates quoted are variable. Interest is subject to Deposit Interest Retention Tax (D.I.R.T.) at the prevailing rate, where applicable.
(For more information, visit www.revenue.ie)
Your accounts below will have the new deposit interest rate applied on 12 January 2021.
The second change is to a number of our account terms and conditions, you can see what changes we've made in the attached document.
For customers who are Microenterprises, we would like to draw your attention to the removal of the clause which excludes Microenterprises from the application of negative interest rates. These changes are due to the current extraordinary negative interest rate environment which we are continuing to insulate the vast majority of our customers against.
We must keep our interest rate policy under review and if a decision is taken in the future to apply negative interest that will affect you as a Microenterprise, then we will write to you in advance and let you know your options and what it means for you.
We do appreciate your business but at the same time we understand that you may not want to accept these changes, and you have the right to close your account free of charge by contacting your local AIB branch. If you have an Online Notice Deposit Account you can close it online through Internet Banking.
If we do not hear from you before 12 January 2021 we will take it to mean that you have accepted these changes.
If you're not sure you understand these changes or what they mean for you, you can contact us on 0818 300 092 from 9am - 5pm Monday to Friday except for bank holidays.
The first change is to interest rates. Globally interest rates have been exceptionally low for some time in many countries, including our own. Unfortunately, as a result we have to lower the interest rates we offer on many of our deposit accounts from 12 January 2021. In many cases the rate will be zero.
This table shows what the rates are now and what they will be from 12 January 2021. You will also be able to find more information on all our savings options at www.aib.ie, or at any of our branches.
AER is the annual equivalent rate. Rates quoted are variable. Interest is subject to Deposit Interest Retention Tax (D.I.R.T.) at the prevailing rate, where applicable.
(For more information, visit www.revenue.ie)
Your accounts below will have the new deposit interest rate applied on 12 January 2021.
The second change is to a number of our account terms and conditions, you can see what changes we've made in the attached document.
For customers who are Microenterprises, we would like to draw your attention to the removal of the clause which excludes Microenterprises from the application of negative interest rates. These changes are due to the current extraordinary negative interest rate environment which we are continuing to insulate the vast majority of our customers against.
We must keep our interest rate policy under review and if a decision is taken in the future to apply negative interest that will affect you as a Microenterprise, then we will write to you in advance and let you know your options and what it means for you.
We do appreciate your business but at the same time we understand that you may not want to accept these changes, and you have the right to close your account free of charge by contacting your local AIB branch. If you have an Online Notice Deposit Account you can close it online through Internet Banking.
If we do not hear from you before 12 January 2021 we will take it to mean that you have accepted these changes.
If you're not sure you understand these changes or what they mean for you, you can contact us on 0818 300 092 from 9am - 5pm Monday to Friday except for bank holidays.