Moving to Ireland
SAVINGS ACCOUNTS INTEREST RATES IRELAND
living and working in ireland

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The ECB rate is now just 0.5% - (May 2013) but you can still get interest rates around 3% on some deposit accounts.
For longer term fixed rates the National Savings offer good rates and the fact they they have little or no tax on the interest helps too.

The interest rates on savings accounts in Ireland have been falling in 2012 and 2013 as the banks try to make their balance sheets look better. The banks in Ireland managed to persuade the government to drop most of the rates on the National Savings accounts - so thta the banks could compete more easily for deposits.

If the banks in Ireland were healthy - the deposit rates would probably be closer to 1% - but Irish banks are still in trouble, so we have seen higher rates for the last five years. In late 2008 it was possible to get a rate of 5% on a one year deposit.
As the banks gradually recover we expect to see interest rates on deposits falling close to 1%.

A tax on Deposit Interest is applied in Ireland - called DIRT - (Deposit Interest Retention Tax) it is currently 33%.

See Money Guide Ireland for lists of the best interest rates on deposit accounts - including Fixed Rates and Regular Savings accounts. The same site also has information on the best rates on credit cards, Mortgages and loans.

If you are worried about the future of the Euro currency - you might be interested in our page about Moving Euros into Sterling

Here is a list of banks and institutions that are based in Ireland or have branches in Ireland that still accept deposits from Irish residents.

Post Office (An Post).
Allied Irish Bank (AIB)
Irish Life & Permanent plc (PTSB)
Bank of Ireland
Danske Bank
Credit Unions
KBC
Ulster Bank
Leeds Building Society
Nationwide UK Ireland
Rabobank
Investec Bank (UK) Ltd

See the latest information about Deposit Guarantees in Ireland