itsyourmoney.ie reports If you are a mortgage holder
If you have a €250,000 mortgage over 25 years at 5.5%, the 0.5% decrease would reduce your monthly repayment by approximately €70. Use our mortgage calculator to work out the effect of a lower rate on your repayments and the cost of your mortgage overall.

Unless you have a tracker mortgage, the interest rate decrease might not be passed on to you immediately, so check with your provider. And, if you have a fixed rate mortgage, your interest rate will not change until the fixed-rate term ends.

Use this opportunity to look around for better value and if you find it, then think about switching. It is also a good time to consider keeping any money you save from mortgage repayment cuts and using it to pay off any high interest loans.

If you have a personal loan
If you have a fixed rate personal loan, the interest rate decrease will not affect you.

If you have a variable rate loan, contact your provider to see if your interest rate will change. You can use the personal loan cost comparison to check the rates on offer from the various providers and make sure you are getting a good rate.

If you have a savings account
This rate change may affect the return you get on your savings. Check out our lump-sum deposit and regular saving cost comparisons to get up to date rates on savings accounts. If you find a better rate, then consider switching, but don’t forget to check the features of the account, to make sure it suits your needs.

You can also find out what levels of protection are in place for deposits with various institutions.

for full details of this and lots more financial advice go to itsyourmoney.ie

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http://www.itsyourmoney.ie/index.jsp?1nID=93&2nID=100&nID=153&aID=623