Demand deposit accounts
✓ Take advantage of interest rates up to 2.35% AER
✓ Start saving from as little as €1, with no minimum term
✓ No fees, no paperwork, no hassle
"Best Savings Provider" 2025
Featured on the CCPC Money Tools
Member of the Contact Centre Management Association (CCMA)
Raisin.ie in the media
Ideal if you want to both save and withdraw money
A good short-term option if you have a large lump sum
Competitive, variable interest rates
How much money do I need to open a demand deposit account?
Most demand deposit accounts can be opened with as little as €1, but you should keep in mind that you’ll only earn more interest the more money you can deposit.
Do I have to pay tax on interest from my demand deposit account?
Yes, you will have to pay tax as the interest you earn on your savings is subject to Deposit Interest Retention Tax (DIRT). In 2024, DIRT is charged at 33%, a reduction on previous years (it was 41% in 2014-2016, for example).
Any tax you need to pay on your interest is typically deducted by your bank before the interest is paid to you. If you’d like to know more about your deductions, you can request a statement of DIRT.
In the case of Raisin demand deposit accounts, you’ll need to declare your own Deposit Interest Retention Tax (DIRT) as our partner banks are outside Ireland.
Deposit Interest Retention Tax does not apply to interest on demand deposit accounts that are owned by:
- Revenue-approved pension schemes
- Charities
- Companies that pay corporation tax
- People not resident for tax in Ireland
Is my money protected in a demand deposit account?
Yes. The Deposit Guarantee Scheme protects your money in the event that your bank, building society or credit union authorised by the Central Bank of Ireland collapses. Deposits up to €100,000 per person, per financial institution are protected under the scheme, and your money is usually paid to you within 15 working days of your institution failing.
If you have a demand deposit account with a Raisin partner bank outside of Ireland, your account will be protected by the Deposit Guarantee Scheme in your bank’s country, in accordance with EU law.
Why save with Raisin Bank?
.svg){kind=icon}
Easy
A single login provides access to over 80 savings accounts from 17 banks across Europe. With no fees, saving with Raisin is online and hassle-free.
Flexible
Whether you want to lock your money away at a fixed rate, or have easy access to your savings whenever you need them, we have savings accounts to suit you.
Secure
All of our savings accounts are secured by European Deposit Guarantee Schemes, allowing you to choose between competitive interest rates with peace of mind.