Interest rate cut for variable and tracker mortgages
04 November 2011
Interest rate cut for variable and tracker mortgages
Friday November 4th 2011: Interest rates on all KBC Bank Ireland variable and tracker mortgages are to be cut by 0.25% on December 1st.
KBC Bank Ireland confirmed that it will pass on the interest rate cut from the European Central Bank . From December 1st the standard variable rate for Homeloans customers will be 4.25% (APR 4.34%).
The bank is reducing its rates to customers notwithstanding the fact that the cost of funds on the retail deposit market and the wholesale market does not fully reflect the ECB reduction. The bank reserves the right to increase or decrease its variable interest rates in accordance with the terms and conditions of its contracts with its customer and its policies.
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