AIB Masterplan: Manage your Household Budget with an AIB Masterplan
No matter what your circumstances, having a household budget is the best way to keep spending under control and improve your financial situation. A household budget is simply a plan of the money you expect to receive into the household and how you expect to spend it.
Note: The interest rate on an AIB Masterplan Account is variable and may change.
AIB Customer notice
The Masterplan Product is no longer available for new applications from 1 April 2022. Existing Masterplan accounts are not affected. Come talk to us if you have any queries.
Features and Benefits
AIB's Masterplan Account is a budgeting tool that can help you:
- Plan your spending over the course of the year
- Spread the burden of bills evenly over the 12 month period up to a maximum of €75,000
- Manage your cash flow throughout the year
- Enjoy better control over your finances.
How does the AIB Masterplan Account work?
- For existing Masterplan Account holders, use the online Family Finance Budgeting Tool to estimate the household expenses you will have during the year that you would like to pay from your existing Masterplan Account i.e. electricity bills, car insurance, school fees etc.
- This may be the same, or slightly different, to the amount you applied for on your Masterplan Account when you were originally approved. This will be the new limit set up on the account.
- Throughout the year, you pay your bills from your Masterplan Account whenever they are due, but you make equal monthly payments from your main current account to your Masterplan Account.
- Each month, the limit on your Masterplan Account will reduce in line with your monthly payment, so at the end of the year, the bills are paid and the limit is zero.
What about interest?
- Interest is charged quarterly on any overdrawn (debit) balance and can be charged to either your main current account or charged directly to your Masterplan Account.
- Charging your interest to your current account is the most straightforward option. This option is available only where your main current account is in the same branch as your Masterplan.
- If your interest is to be charged to your Masterplan Account you will have to factor that into the amount you apply for as interest will then also be paid from this account.
What charges may apply?
- A Quarterly Maintenance Fee of €4.50 applies to Masterplan Accounts.
- Interest is charged quarterly on any overdrawn balance.
- Charges for standing orders or direct debits may apply.
Please refer to the current edition of 'A Guide to Fees and Charges for Personal Accounts' in your local branch or online for further details.
Talk to Us
Please talk to one of our staff by contacting any of our branches or our customer service helpline (1890 724 724 (+353 1 771 2424 from outside Ireland), lines are open Monday to Friday 9am – 5pm), if you do not possess the documentation outlined above. We'll be happy to answer any questions you may have about family finance and budgeting tools.
Lending criteria, Terms and Conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age.
Help and Guidance
Family Finance Budgeting Tool
Try out our easy-to-use online household budgeting tool.
Personal Lending Interest Rates
View our current rates charged on lendings.
Important information on your Distance Contract
AIB strongly recommends that before purchasing this product you read the Important Information on your Distance Contract.
For all service related queries please visit our Help Centre.
Glossary of Terms
This document explains the fees outlined in the Fee Information