AIB has announced a range of interest rate reductions for its fixed rate mortgages.
The cuts, of up to 0.65%, will be made to all of the bank's non-Green fixed mortgage rates.
The 0.65% reduction will apply to the bank's five year fixed rate for non-Green mortgages, while the interest rate on AIB's other non-Green Fixed rate mortgages will be reduced.
The reductions will take effect from tomorrow, 24 October, for new and existing customers.
Meanwhile, AIB Group lender EBS has announced an interest rate cut of 0.35% for its Green four year fixed mortgage.
The interest rates on a number of Haven non-Green mortgages will also be reduced by up to 0.35%, following recent Green rate reductions.
The cuts come following reductions to Green mortgage rates by AIB, as well as non-Green rate cuts by EBS and green rate cuts by Haven earlier this year.
AIB said the "significant reductions will benefit a large number of new and existing mortgage customers."
A monthly repayment on a new €300,000 AIB one-year fixed rate mortgage, with a loan to value of greater than 80% over a 25 year term will be €1,500.67.
The previous monthly repayment would have been €1,606.62, representing a saving of €105.95 per month, €1,271.40 a year, or €2,308.34 over the 25 year term.
The Managing Director of Retail Banking at AIB said the bank "continues to take a balanced and measured approach to interest rate changes, offering choice, value and convenience across our AIB, EBS and Haven brands."
Geraldine Casey the interest rate reductions announced today "could benefit tens of thousands of customers by saving them money each month."
She said in some cases customers will save around €105 a month on their home loan repayments or around €1,270 a year.
"We understand that some customers are buying a home in areas where Green properties are imited. These new non-Green rates in AIB and Haven will provide significant support to those customers, while the EBS Green Fixed rate reduction is extremely competitive," she added.
Daragh Cassidy, head of communications at price comparison website Bonkers.ie, said there despite the reduction in rates by AIB, there are still cheaper mortgages on offer in the market.
Mr Cassidy added that until today's cut, AIB's rates were "almost uncompetitive".
He said that there are now ten mortgage providers in the market including credit unions and some of the lenders are feeling competitive pressures.
