EBS has announced that it is lowering its standard variable mortgage rate by a quarter-point to 4.68% from December 1.
This follows last week 0.25-point cut in rates by the European Central Bank.
Meanwhile, National Irish Bank has disputed that its decision not to pass on the 0.25-point ECB rate cut goes against a statement issued by the Minister for Finance.
A spokesperson says the NIB is not funded through the ECB and cannot pass on something it does not receive itself. It says it is funded through its parent company Danske Bank.
NIB further says that it announced increases of 0.2 points to 0.95 points in its variable mortgage interest rates on October 4. These come into effect on Friday.
NIB says it has also announced a number of discounts on mortgage rates for some of its customers which could offset some of these increases.
The bank says this is the first time it has increased its variable rates since 2008 - so it has absorbed losses in the past.
EBS is the fourth lender to announce that it is passing on the cut to variable rate mortgage holders - after Permanent TSB, KBC and IBRC, which includes former Irish Nationwide customers.
