If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Single A rate of interest

goingnowhere · 2023-11-06 11:26:27

Fairly common lease condition is: Pay interest at the rate of four per cent (4%) per annum over the single A rate of interest charged by the Bank of Ireland in the Republic of Ireland What is the single A rate, its not published anywhere? The lease has a fallback of 15% if the rate doesn't exist

06-11-2023 11:26am

#1

goingnowhere

Registered Users, Registered Users 2 Posts: 4,290 ✭✭✭

Join Date: September 2006

Posts: 4278

Fairly common lease condition is:
Pay interest at the rate of four per cent (4%) per annum over the single A rate of interest charged by the Bank of Ireland in the Republic of Ireland
What is the single A rate, its not published anywhere?
The lease has a fallback of 15% if the rate doesn't exist

0

Comments

#2 06-11-2023 10:54pm

Victor

Registered Users, Registered Users 2 Posts: 78,577 ✭✭✭✭

Join Date: December 2000

Posts: 68938

An 'A rate' (as opposed to a triple-A rate, C minus rate, etc.) would be what is charged / paid to a customer of good, but not exceptional standing. There is likely to be different A rates for personal and corporate customers, borrowing and deposits.
A simple phone call to the bank would elicit whether they still use the terminology.

0