A roundup of key financial changes impacting consumers in February 2025, including electricity bill credits, mortgage rate reductions, cashback offers, installment payment plans, and price hikes for popular beverages.
February might be the shortest month of the year, but it is set to bring a wave of cost of living changes. From financial relief to price hikes, a mixed bag of developments awaits consumers. Here's a breakdown of the key changes to anticipate in February 2025:Budget 2025 Electricity Account Credit: As announced in Budget 2025, all domestic electricity customers will receive a €250 credit on their electricity bills. This credit will be delivered in two installments of €125.
The first payment was made between November 1st and December 31st, 2024. The second installment is scheduled for between January 1st and February 28th, 2025. PTSB - Mortgage Rate Adjustments: PTSB introduced new mortgage rates effective from January 17th, 2025. These rates apply to both new and existing personal customers. This marks the fourth reduction in fixed-rate mortgages announced by PTSB since December 2023.PTSB - Cashback on Mortgage Repayments: Starting January 21st, 2025, PTSB is offering a 2% cashback on monthly mortgage repayments to its existing mortgage customers. The cashback amount varies depending on the customer's monthly repayment. For instance, customers with a monthly mortgage repayment of €1,500 could receive €30 back each month. To qualify for the cashback, PTSB mortgage customers need to make their monthly mortgage repayment via direct debit from a PTSB Explore Current Account. This 2% monthly cashback offer is available for eligible customers until at least the end of 2030.Revolut - Instalment Payment Plans: Revolut announced a new feature allowing credit card customers to pay off their balance in installments. Customers can opt for repayment terms ranging from three to twelve months at a lower rate compared to Revolut's standard annual percentage rate. Through the Revolut app, customers can set up installment plans for eligible purchases, with multiple purchases being consolidated into a single installment plan.Diageo - Price Increase: Diageo announced a price increase for its popular brands, including Guinness, Harp, Smithwicks, Hophouse 13, and Harp, effective from February 3rd, 2025. In January, reports indicated a 6% price increase per pint before VAT. This means the price of a pint is expected to exceed €6 nationwide, with Dublin customers potentially paying over €7
COST OF LIVING ELECTRICITY CREDIT MORTGAGE RATES CASHBACK INSTALMENT PAYMENT PRICE INCREASE GUINNESS DIAGEO
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