Deposit accounts from banks across Europe

“Deposit account” is a bit of an umbrella term, but the original definition of a deposit account is any kind of bank account where you can deposit and withdraw money. This can include both current accounts and savings accounts, but the term is most often associated with savings accounts. Easy access or demand deposit accounts offer savers quick access to their money. With a fixed term deposit account, savers deposit a lump sum into an account and leave it to sit there gathering interest. The interest rate varies from bank to bank, but it’s easy to get an overview of the top rates in our offer table above.

An Post Savings offer some longer term options with their top rate available on the 10 year National Solidarity Bond earning 0.59% AER. However, if you’re looking for more flexibility to manage your money and a shorter time frame, Raisin.Bank offer the most competitive rates in the market, with a market leading rate of 0.55% on 1 year fixed term deposits and 1.04% on 2 year products.

Banks will often offer a higher interest rate for a fixed term deposit than for an easy access savings account. So if you have a nest egg you can afford to stash away for a couple of years, you can expect a higher rate. Generally speaking, the longer the duration, the higher the rate. This is because banks know they are guaranteed to have your money for a set period of time.

While the interest rates for easy access accounts are variable, our fixed term deposit accounts guarantee you a fixed interest rate for the entire duration. Right from the outset, you know what return you can expect one, two, or even ten years down the line.

More than half of Irish savers are now losing money on their regular savings accounts, as interest rates fail to match inflation. But we’re ready to fight back, and we’ve made it our mission to help you get the highest interest rates possible. By breaking down banking barriers between Ireland and mainland Europe – where interest rates are often significantly higher – we’re opening up a whole new playing field for Irish savers. By offering rates above 1 percent, with Raisin Bank you can beat inflation and avoid your savings losing value over time.

And it’s easy to do so. With Raisin Bank, you can manage your savings online, in your own language, and it’s completely free. We know that life can get busy, too, so you don’t need to worry about forgetting to cancel at the end of the term – we won’t automatically renew your term deposit. And unlike some banks, our offers are for everyone. You’ll never need to hold a particular current account with us to access the offers.

In the table above, we’ve made it easy to help you find the perfect balance between rate and duration. Based on your own needs, you can simply sort the table by top rate, duration, or even country rating to find the perfect term deposit for you.

When is the interest paid out?

Often, the interest is paid out upon maturity, meaning at the end of the fixed duration, but this can vary depending on the individual offer. You can check the terms of each individual offer by clicking “Product details” in the table above and looking at the details under “Interest payout”.