IIB Homeloans is cutting its one-year fixed mortgage rate for all new business by 0.4 points to 2.95% from today.
The company, a subsidiary of IIB Bank, says the move will reduce monthly payments on a 20-year €100,000 mortgage by €20 a month or €240 a year.
The cut comes ahead of next week's meeting of the European Central Bank, which is expected to lower euro zone interest rates again to boost the euro economy.
