DUBLIN, Ireland, June 10, 2003 (PRIMEZONE) -- AIB (NYSE:AIB) today announced that it has reduced its variable mortgage rate by 0.38%. The reduction will take effect from June 16, 2003 and will apply to both new and existing mortgage holders.Details of the new rate are as follows:
Interest Rate APR Cost per '000 3.30% 3.3% Euro 5.70 over 20 years
This reduction means that AIB (NYSE:AIB) continues to offer best value mortgages within the market, a position it has consistently held for over three years. AIB (NYSE:AIB) is committed to giving long term value to customers and is offering a 5 year fixed term rate of 3.99% for customers who may wish to 'lock in' for this period. This represents exceptional value and is below 4% for the first time ever.