Ireland has the highest bank interest rates in the eurozone

Irish customers are charged the highest interest rates by banks in the eurozone, according to new data.

Figures from the European Central Bank analysed by the Sunday Independent also show Irish banks are up to three times more profitable than their Eurozone counterparts. Home borrowers here are charged an average interest rate of 3.2% compared to the eurozone average of 1.9%, while businesses are charged a 5.1% rate compared to the average of 2.3% elsewhere.