PTSB is to offer existing mortgage customers with the bank 2 per cent back on their monthly home loan payments, extending a benefit previously open to new customers.
But to qualify for the offer, customers need to make the repayments through a direct debit from one of the bank’s Explore current accounts.
PTSB’s Explore account has an €8 per month maintenance fee, but customers can earn cashback of up to €5 per month to offset the cost by using their card for contactless payments, or by paying certain direct debits for electricity and broadband from the account.
Mortgage holders already making the payments from an Explore account will automatically receive the benefit, while those who need to open one will begin earning cashback from March.
PTSB is guaranteeing the offer will be open until at least December 31st 2030, which it said would be worth €1,800 to customers with a €1,500 per month mortgage repayment.
“It’s an offer that has been hugely popular with new customers and we’re extending it to existing customers to give them an even better deal and reward them for their loyalty,” said Dermot Ryan, head of bank products and pricing strategy of PTSB.
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