Interest rates on Deposit Accounts in Ireland have been slowly dropping over the past couple of years.
On our page of the Best Savings Rates in Ireland – you will see that the best available instant access interest rate in the banks is now just 0.76% from Nationwide UK (Ireland) .
If you are willing to lock your money away for five years you can get slightly better rates in some state savings products.
The 5 year savings certificate pays 0.98% Tax Free
Or you could go for the 10 year Solidarity Bond which pays 1.5% after taxes .
You have to look online for the best rates : – at Raisin.com you can open an account at Polish bank Alior and get 1.4% on a 12 month fixed rate deposit account. (pre tax ,Min €10k).
If you are lucky enough to have some savings – then you should check if you are getting the best interest rate. Some deposit accounts pay as little as 0.1% a year ! If you had €10000 and moved it to an account paying 1.4% – you could get about €80 extra interest in a year after the 41% DIRT.
See more of our Money Saving Tips.