THE Government has been accused of standing back as AIB ”bleeds the ordinary householder dry” following the bank’s decision to hike up its variable-interest rate for the second time in two months.
The State-owned bank shocked its customers earlier this week when it announced that it would be raising its interest rate by 0.5 per cent to 4 per cent — two days after the bank had paid €1bn to senior unsecured bondholders.
The bank, which has received a €21bn bailout from the taxpayer and is now 99.8 per cent owned by the State, increased its interest rate, despite the ECB halving its rate in the last 12 months…………………………………..
The unfortunate customers of Permanent TSB have been sucked dry now for the last 3.5 years with interest rates of 6% .I have been warning about this bank’s policy to fleece their own customers in an effort to build up their balance sheets as a result of their criminal behaviour during the so called boom years. See link: http://www.irishtimes.com/newspaper/finance/2012/0523/1224316551107.html
The bottom line here is the equally corrupt government that is now sitting in Lenster House is allowing the State Banks to run amok again and this time the customers are paying the tab in an unending cycle of hidden bank charges ,no credit and penal interest charges on overdrafts (If you’re lucky enough to have one!) This shower of Gombeens in the Dail are speaking with forked tongs and are crying crocodile tears. Close all your bank accounts and go to the post office or your local Credit Union.
- Second AIB interest hike will add €1,400 to mortgage bills (independent.ie)
- AIB to increase mortgage rate to 4% (newstalk.ie)
- AIB tracker loan worth €54,000 to home buyers (independent.ie)
- Interest rates to rise for BOI, ICS customers (newstalk.ie)
- Interest rates held at 0.5% again – Confused.com (confused.com)