Interest rates on Savings Accounts in Ireland gradually fell lower and lower over the last few years. Many instant access deposit accounts were paying zero or a tiny 0.05% rate of interest in 2023.On a deposit of €50,000 a rate of 0.05% would earn just €25 a year in interest – before tax. The ECB […]
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Interest Rates
Historic Interest Rates on Savings in Ireland
The Interest Rates available on instant access savings accounts in Ireland in 2022 were the lowest they have been for several years. Rates started to rise in 2023 as the ECB began to increase rates in response to rising inflation. We have dug out some old “best buy” interest rates going back to 2008 to […]
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ECB Cuts Interest Rate to Zero
At todays monthly meeting of the ECB it was announced that the headline interest rate will be cut to zero from the current low rate of 0.05%. The last cut in the ECB rate was in Sept 2014 when it fell from 0.15% to 0.05%. This cut initially caused a decline in the value of […]
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