Oireachtas Joint and Select Committees

Wednesday, 14 September 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Banking Issues: Discussion

Photo of Jim O'CallaghanJim O'Callaghan (Dublin Bay South, Fianna Fail) | Oireachtas source

If we look at Bank of Ireland's five-year rates, it offers a fixed rate high-value mortgage rate at 2.5% with no cashback and then the regular five-year fixed rate is at 3% but with €9,000 cashback. I can understand the immediate attraction of the €9,000 cashback but will the bank inform a customer of how much extra they are going to be paying on their mortgage if they avail of this cashback option?

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