T306 – Personal Loan Outstanding Balance Questions & Answers (Q&A)
We recently wrote to some customers about their personal loans. During the term of the loan, the interest rate on their loan increased. This resulted, or may result, in them having an outstanding balance when the term on their loan expired or is due to expire.
As we did not remind them of this, we are now providing them with a goodwill gesture payment.
We have either sent them a cheque or paid them directly into an AIB account with the reference “AIB Payment T306”.
If you got this letter these Q&A’s may help.
- Why have I received this letter?
- When did my interest rate increase and what did it increase to?
- I have more than one personal loan, how do I know which one is affected?
- Has the Central Bank of Ireland (CBI) been told?
- How will I know if my credit record has been affected?
- What steps have you taken to make sure that this won’t happen again?
- Why does my letter not include a cheque?
- What can I do with my payment?
- Did you make any changes to my open personal loan account?
- Who can I speak to if I have a question or want to complain?