Terms and Conditions

1 General

1.1 The Graduate Account and associated benefits are effective from March 2011 and replace any other Graduate Package that may have previously been advertised. The Graduate Account and associated benefits offered are subject to change.

1.2 The associated benefits ("the Benefits") are the benefits which you enjoy when you hold a Graduate Account and they are only available to Graduate Account holders. In order to receive the Benefits you must satisfy the criteria described by the Bank for the relevant Benefit, identify yourself as a Graduate Account holder and request the benefit at the time of application/the transaction.

1.3 Any Benefits or reduced rates that you may have previously been entitled to will expire upon you converting to, or opening a Graduate Account. An exception to this is where at the time of converting to, or opening a Graduate Account you hold an existing AIB loan account. In this case all terms and conditions relating to that loan account will not change unless you request, and we approve, an increase in the amount, an extension of the term or otherwise amend the terms of that loan while you hold a Graduate Account.

1.4 The Graduate Account and Benefits are in addition to the Terms and Conditions of Current and Demand Deposit Accounts. A copy of the Terms and Conditions for Current Accounts and Demand Deposit Account is enclosed herewith and is available at our branches.

1.5 Further terms and conditions will apply to any other service or facility provided by us in connection with your Graduate Account and you will be notified of any such terms and conditions if and when you request, and we provide, any additional service or facility.

1.6 We may alter the Terms and Conditions including the withdrawal or variation of the Benefits. If any alteration is to your disadvantage we will notify you in advance in accordance with the Terms and Conditions for Current Accounts and Demand Deposit Accounts.

1.7 You are eligible to apply for a Graduate Account if you are an existing AIB Student Plus Account holder and have graduated from full-time third level education in the last two years. Alternatively, if you are a customer new to AIB, you must have graduated from a full-time third level course of three years or more in length in the last two years and you will be required to produce evidence of Graduation (letter from College or Certificate of Graduation) when opening your Graduate Account. The Bank may at its discretion extend the benefits of the AIB Graduate Account to other customers.

1.8 You may only hold one Graduate Account at any one time and this account must be in your sole name.

1.9 The Graduate Account and the Benefits are valid for a period of up to two years from the date you convert to, or open your Graduate Account or for as long as you hold a Graduate Account with AIB, whichever is the shorter. At the end of this period, your Graduate Account will automatically convert to a Personal Current Account and the Bank's Terms and Conditions for Current Accounts and Demand Deposit Accounts will apply. We will advise you at least 30 days prior to your Graduate Account converting to a Personal Current Account.

2 Bank Free of Maintenance and Transaction Fees

2.1 You will receive maintenance and transaction free banking from the date you convert to, or open a Graduate Account until the date your Account is converted to a Personal Current Account. Your Account will then be charged the Bank's standard fees and charges for Personal Customers. For details of these charges please refer to the current edition of our booklet "A Guide to Fees and Charges for Personal Accounts" which is available at our branches.

2.2 Maintenance and transaction free banking does not cover bank service charges. For details of bank service charges please refer to the current edition of our booklet "A Guide to Fees and Charges for Personal Accounts" which is available at our branches.

3 Interest Free Authorised Overdraft up to EUR1, 000

3.1 To qualify for the EUR1,000 interest free overdraft, you must apply for and be approved for an authorised overdraft facility.

3.2 Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age.

3.3 Only authorised overdrawn balances of up to EUR1,000 on Graduate Accounts will not be charged debit interest. Authorised overdrawn balances in excess of EUR1,000 will be charged debit interest at the Bank's Standard Variable 'A' rate for Personal Overdrafts.

3.4 If prior to conversion to the Graduate Account you were benefiting from an interest free overdraft facility greater than EUR1,000, upon conversion to the Graduate Account the interest free amount of your authorised overdraft facility will reduce to EUR1,000.

3.5 On conversion to a Graduate Account, any previously agreed reduced rate on an existing overdraft facility (over EUR1,000) may (unless otherwise agreed) be removed and the Bank's Standard Variable 'A' rate for Personal Overdrafts will apply.

3.6 If your Account is overdrawn without our agreeing to give you an overdraft facility or if you exceed an authorised overdraft limit, then debit interest will apply to the overdrawn balance at the Bank's Standard Variable 'A' rate for Personal Overdrafts together with surcharge interest on any excess balance. For details of current overdraft interest rates and borrowing charges please refer to notices displayed at our branches. For further details on these and how to mitigate against them, refer to the current edition of our booklet "A Guide to Fees and Charges for Personal Accounts".

3.7 The standard overdraft facility fee of EUR25.39 will be waived for the period that you hold a Graduate Account.

3.8 The EUR1,000 interest free authorised overdraft is only available during the period that you hold a Graduate Account. Once your Account ceases to be a Graduate Account, any authorised overdraft will be charged interest at the Bank's Standard Variable 'A' rate for Personal Overdrafts.

4 Reduced Rate Personal Loan

4.1 The loan rate offered to Graduate Account holders is the Bank's Standard Variable 'A' Personal Loan rate reduced by 3%.

4.2 Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age.

4.3 To receive the reduced rate Personal Loan, you must apply for and be approved for the loan while you hold a Graduate Account.

4.4 Only Personal Loans in your sole name will be eligible for the reduced rate.

4.5 There is no limit to the number of reduced rate Personal Loans that you can apply for once they are approved and fully drawn while you hold a Graduate Account.

4.6 Existing loans held by you prior to converting to, or opening a Graduate Account, do not qualify for the rate reduction. However, if you request, and we approve, an increase in the amount or an extension of the term of that loan while you hold a Graduate Account, the reduced rate will then apply.

4.7 The maximum loan term is five years and the reduced rate will apply for the agreed life of the loan until it is repaid, subject to Condition 4.8 below.

4.8 If having ceased to hold an AIB Graduate Account you want to borrow further money on your loan ("top up your loan") or if you want to materially change the terms of the loan, we will have to enter into a new credit agreement with you for the total amount which may change the interest rate that applies on your loan. The new credit agreement will set out the terms, conditions and rate applicable to the new loan.

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