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We regularly monitor and compare the Interest Rates onSavings 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 deposit accounts in 2021 are still very low. Many instant access accounts are only paying 0.01% interest. On a deposit of €50,000 you would only earn €5 in interest in a year at a rate of 0.01%. After tax this would be just €3.35.

As a general rule, you’ll usually get slightly better interest rates if you tie your money up for longer. You can get rates that are 80 times bigger than the tiny 0.01% offered by the main banks. Why accept €5 interest on €50,000 when you could get €350 or more ?

Note: DIRT (Deposit Interest Retention Tax) decreased from 35% to 33% from January 1st 2020 – so that will mean slightly more interest for savers. More details of DIRT here

1. Usually, locking yourself into a longer fixed term gets you higher ISA rates. This restricts your access, but is rewarded with a better rate. Here are some things to consider when trying to find the best fixed-rate ISA for you: The interest rate (AER) - obviously, you want the best interest rate for your savings.
2. This makes it a highly focused way of saving that can get you to your savings goal quicker, but has less flexibility than other types of bank account. For that reason, a Term Deposit Account is the perfect solution for people who know they can set their funds aside for a fixed period.

Best Fixed Term Savings Monthly Interest

Click on the links below to see the best savings rates on offer in Ireland in February 2021

A fixed rate cash ISA will pay a guaranteed amount of interest for a set length of time. This could be one of the best savings accounts if you want to take advantage of your tax-free cash ISA allowance and can afford to lock your savings.

• Best Instant Access Deposit Rates
  
• Regular Saver Accounts
  
• Best 1 Year Fixed Deposit Interest Rates
  
• Highest Interest Rates on Fixed Terms Up To Five Years
  

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.

Fixed Savings Accounts

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

Best Fixed Term Savings Rate

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.