Customer Notice statement for TUK2024/01

We are writing to some customers that had an outstanding balance on their loan. The variable interest rate on a loan can increase or decrease over its term, but the repayment amount does not automatically change. Because of this, when these customers applied for their loan with us, their credit agreement outlined there may be a balance outstanding at the end of the loan term if interest rates increased.

During the term of these loans, the interest rate on the loan increased. While loans operated in line with customers credit agreements, and the balance was cleared, we did not remind customers at the end of their loan, of the potential for an outstanding balance.

We will be making a payment to any customer affected by this, either with a payment into their AIB current account or by cheque. There is no impact on customers credit ratings as a result of this and no action is required by customers.

We apologise for any confusion that this may have caused.

We have added some questions and answers for more information. 

If you want to talk to us about this, you can contact us on 0345 6005 925* any time between 09:00 and 17:00, Monday to Friday (excluding UK and Republic of Ireland Bank Holidays).

* Call charges may vary – please refer to your service provider.