Rates


For Information purposes only - personal products are no longer on sale.

 

Repayment Plan Rates

​Product Rate​ APR**
​Overdraft* ​9.75% ​10.11%
​Credit Card* ​11.50% ​12.13%

*NB: Repayment plan is over 24 months

**APR - Annual Percentage Rate

Refer to page 11 of the Account Closure Information Booklet for details on Repayment Plan overdraft and page 20 for Credit Card repayment option.

  

Mortgage Rates

Variable Mortgage Rates for Existing Business - Effective from Monday 16th January 2017
Principal Private Residences Rate APR*
Home Loan Variable Rate 4.75% 4.85%
Offset Mortgage 4.60% 4.70%
     
Residential Investment Loans Rate APR*
Investment Home Loan Rate 4.75% 4.85%​​
Standard Variable Rate (Annuity & Endowment)** 4.75% 4.85%​​


* APR is the annual percentage rate
** Includes Bridging Loans​​​​​​​​

ECB Tracker Mortgage
If you are currently a holder of  a tracker rate mortgage with Danske Bank please refer to your mortgage agreement to determine your margin with  ECB rate and refer to documentation which provides this information for you such as bank statements . The ECB refinance rate, is published by the European Central Bank and is available at www.ecb.int

As of the 15th September 2014, a standard €100,000 Offset variable rate mortgage over 20 years costs €638.25 per month (4.7% APR*). The cost of your monthly repayments may increase. A 1 percentage point rise in interest rates will cause them to increase by €55.54 to €693.79.

As of the 16th January 2017, a standard €100,000 home loan variable rate mortgage, for owner occupiers, over 20 years costs €646.40 per month (4.85% APR*). The cost of your monthly repayments may increase. A 1 percentage point rise in interest rates will cause them to increase by €55.91 to €702.31.
 
*APR - Annual Percentage Rate
 

Variable Interest Rates for Personal Mortgage Products - Policy Statement

WARNING:
WE MAY CHANGE THE INTEREST RATE ON VARIABLE INTEREST RATE PERSONAL MORTGAGE PRODUCTS AT ANY TIME. THIS MEANS THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE OR DECREASE.



This policy statement applies to the following variable interest rates for personal mortgage products:

  • Home Loan Variable Rate
  • Offset Mortgage Rate
  • Investment Home Loan Rate
  • Standard Variable Rate (Annuity & Endowment)



What do we consider when setting our variable interest rates?

The Bank considers market conditions when setting its variable interest rates for personal mortgage products. Market conditions include all factors that are relevant to the Bank’s decision on interest rates. Although these are not exhaustive, we have set out the most common of these factors with a brief explanation beside each one.


A CHANGE IN ANY ONE OR MORE OF THE BELOW FACTORS COULD RESULT IN A CHANGE TO OUR VARIABLE INTEREST RATES


​FACTOR ​EXPLANATION
​CAPITAL REQUIREMENTS
Banks are required to have certain levels of capital by regulation. The level of capital which the Bank is, or will over time be, legally required to retain to support its lending activities or the level at which the Bank deems appropriate to support its lending and/or business activities may change.

​CREDIT RISK
​The risk that mortgages will go into arrears and/or default over time and the subsequent losses the Bank may incur from these mortgages.  The risk of incurring losses is assessed over the lifetime of the mortgages. 

​FUNDING COSTS
The cost to the Bank of funding loans and its other business activities over time.  Funding for loans will consist of a blend of short, medium and long term funding which the Bank sources from both retail (for example depositors) and wholesale markets (for example other financial institutions).

​OPERATIONAL COSTS
The costs involved in maintaining an infrastructure to administer and service mortgages including but not limited to rent, staff, IT costs and regulatory costs.

​RETURN ON INVESTMENT
The expected level of return (profit) that the Bank requires on the capital employed in its mortgage business.
 
​COMPETITIVE POSITIONING
​The level of interest rates relative to other published rates of direct competitors.  Borrowers should be aware that other lenders may offer more competitive mortgage rates from time to time.

 

How do we make decisions when setting the variable interest rates?
The Bank is committed to keeping its variable interest rates under regular review and the Bank has a robust process in place for reviewing interest rates.

Variable interest rates are amended from time to time based on decisions taken by a “Pricing Committee”, which meets on a quarterly basis to review market conditions including all the factors described above. The Pricing Committee consists of senior members of management based in Ireland.

The latest financial information with regard to market conditions, including the factors outlined above, is reviewed in detail together with any other relevant external market information.  Based on this review, the Pricing Committee agrees to hold, reduce or increase the variable interest rates as deemed appropriate.

Why do we have different variable interest rates?
Different variable interest rates apply to different mortgage products.  In addition, various discounts may be applied to the variable interest rates dependent on the specific terms of individual mortgage agreements.

Can a customer move to a different type of interest rate or a lower interest rate with the Bank?
No, on 31st October 2013 Danske Bank announced the closure of its personal banking operations in the Republic of Ireland. Following this announcement, Danske Bank in the Republic of Ireland no longer offers borrowers the option to switch to alternative mortgage products.

Other lenders may offer a broader range of mortgage products and we would encourage customers to regularly review all mortgage products offered by other lenders.

Should any customer wish to discuss their accounts, contact details are available at www.danskebank.ie


Warning: If you do not meet the repayments on your credit agreement, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.

THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME

You must be 18 years of age or over to get a Home Loan. Lending Terms & Conditions apply. Security in the form of a mortgage over your home is required.

Please refer to our Disclaimer section to read important information about us and our website.

  

Personal Loans Rates

Personal ​Loan
Variable Rate
APR*
(Variable)
Variable Rate Personal Loans €1,000 - €50,000
12.65%
13.41%

 

Surcharge interest Rate
Overdue amounts carry interest at the applicable rate of interest and may also carry an additional monthly interest surcharge. Where applicable surcharge will be applied at the following rate 9.00%


*APR - Annual Percentage Rate

Example
As of the 16th September 2013 a Variable Rate Personal Loan of €1500.00 over a period of 12 months at a rate of 12.65% (13.41% APR*) will result in a total amount payable of €1604.76. Monthly instalments would be €133.73. There are no additional charges applicable when the required repayments are maintained.

These rates are provided for information only and do not form part of an advertisement.​

If you find yourself in financial difficulty with your loan please contact:

Pepper Asset Servicing
Lo Call 1 890 923 346 or (+353 61 236 852 if calling from outside the Republic of Ireland)
Mon-Fri: 9am to 5pm

​ 

Contact