Best Savings Accounts in Ireland

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We regularly monitor and compare the  Interest Rates on Savings Accounts in Ireland. We check the highest interest rates on instant access deposits as well as regular savings accounts and fixed-rate deposits.

The interest rates on Irish bank deposit accounts in 2023 are still very low. Many instant access accounts are only paying 0.1% interest. The ECB started raising interest rates in mid-2022 – so that should eventually result in some increases to deposit interest rates in Ireland.


With an interest rate of 0.1% , on a deposit of €50,000 you would earn just €50 in interest in a year . After tax this would be just €33.50.

You can get interest rates at some online banks in Europe that are over 20 times bigger than the tiny rates offered by the main banks in Ireland. Why accept €50 interest on €50,000 when you could get €1000 interest or more at Trade Republic or Raisin ?

As a general rule, you’ll usually get slightly better interest rates if you tie your money up for longer. For example – you can currently get 3.5% for 5 years fixed at Raisin Bank (April 2023)

ECB rates are rising again in 2023 – so we expect to see some small increases in bank deposit rates over the coming months.

Click on the links below to see the best savings rates on offer in Ireland in May 2023

You could also earn higher interest with a regular savings account or a fixed-term deposit. But remember, with a fixed-term account you may not be able to access your money immediately (or even not until the end of the term) – and there could be a withdrawal fee.

Variable rate of 2% available at Trade Republic (Instant Access, no minimum)

Note: DIRT (Deposit Interest Retention Tax) decreased from 35% to 33% in January 2020 – More details of DIRT here

If you are looking at alternative forms of investment – such as stocks and shares – you should take a look at these articles 

  Where to Buy Shares in Ireland  

 Buying Exchange Traded Funds in Ireland

How to Buy Cryptocurrency in Ireland

Whilst we strive to maintain the rates and update them when changes occur – customers should double-check with the financial institutions for confirmation of current rates.

Links to financial provider sites are provided solely as a convenience to the user and do not constitute any endorsement of such sites.