Oireachtas Joint and Select Committees
Wednesday, 29 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of the Banking Sector in Ireland (Resumed): Ulster Bank
2:00 pm
Mr. Stephen Bell:
That is to say the asset financing rates are probably in the high single-digits or low double-digits, while unsecured lending is typically between 15% and 25% APR. This is to reflect the fact that there is no real security for lenders to rely on in those cases. The reason for standard variable rates being at comparatively low levels is because of that effective security.
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