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

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

Repayment Plan Rates

*NB: Repayment plan is over 24 months

**APR - Annual Percentage Rate

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

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.

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 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

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

  • ​CAPITAL REQUIREMENTS

    ​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

    ​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

    ​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

    ​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

    ​RETURN ON INVESTMENT

    The expected level of return (profit) that the Bank requires on the capital employed in its mortgage business.

  • ​COMPETITIVE POSITIONING

    ​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 as required 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.

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.

EURIBOR®

EURIBOR® is the rate at which wholesale funds in euro could be obtained by credit institutions in the EU and EFTA countries in the unsecured money market. EURIBOR® is a critical interest rate benchmark authorised under the EU Benchmarks Regulation (BMR). The European Money Markets Institute (EMMI) administers EURIBOR® and is responsible for the calculation, methodology and publication of the rates. EURIBOR® is published on every TARGET day and the rates are available at https://www.emmi-benchmarks.eu/euribor-org/euribor-rates.html.

The interest calculation day count convention used on the euro area money markets is actual days/360 days. Previously the EMMI also published a separate EURIBOR® reference rate for an actual days/365 days day count convention, which was discontinued as and from 31 March 2019.

Danske Bank convert the published EURIBOR® reference rate to an actual days/365 days rate for loans with the EURIBOR® reference rate.

Prime Rate

Danske Bank's Prime Rate (IRL): is set with reference to the three-month EURIBOR® rate available at https://www.emmi-benchmarks.eu/euribor-org/euribor-rates.html; it is reset on a weekly basis as follows:

  • the average of the three-month EURIBOR® rate for each of the days in the preceding week is calculated;
  • the average at (i) above is rounded up to the nearest 1/10th using normal rounding; and
  • 130 basis points are added to the rounded average at (ii) above to give the Danske Bank's Prime Rate (IRL) for the following seven days. Bank holidays are treated as rate change dates, (saving Christmas period close). When a rate is not published the rate from the previous day is included in the average.

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