Savings accounts

Compare and find the highest interest rates for Irish savers

  • Compare interest rates

    Up to 1.17% p.a. interest

  • Keep track at a glance

    Manage your savings entirely online

Irish savers suffer from some of the lowest rates in Europe

As recently announced by The Irish Times, more than half of Irish savers are now losing money on their regular savings accounts, as interest rates fail to match inflation. This means that if the inflation rate (predicted at 1.2% by the end of 2019) is higher than the interest rate paid on a savings account, your money loses its purchasing power over time. Essentially, you can no longer buy as much with your €10 note as the year before.

And you’re not alone; just one in eight regular savings accounts are currently making a positive return in Ireland. Even within Europe, interest rates in countries such as Portugal, Austria and Slovenia are facing rates below 0.2% (September 2019).

But that’s where we come in. We think it’s time to shake up this bleak landscape. As a pan-European market place, we’re enabling customers to open savings accounts in countries across Europe where rates are higher, such as Sweden, Norway and Italy. By offering rates above 1 per cent, with Raisin Bank you can beat inflation and avoid your savings losing value over time.

How to choose the best savings account for you

The most important thing to consider: What is my savings goal?

I put savings aside regularly

Set clear goals
  • Perhaps you’re saving for a house deposit, a new car, or you simply want the cash sitting in your low-interest current account to work that little bit harder.
  • It’s a marathon, not a sprint. Having a goal in mind and setting some structured – but still realistic – shorter term goals helps you stay focused over the longer term.

Keep track of progress

  • With’s easy-to-use account overview, you can log on at any time to see how you’re measuring up against your goals.

I’d like to save a lump sum

That all-important rainy day fund

  • Experts recommend having three to five months of expenses set aside in an easy access account. The exact amount depends on your individual situation, namely whether or not you have dependents or a mortgage, for example.

Access to your cash

  • Consider whether you need access to the money at short notice, or whether you can afford to put it away to earn more interest.
    The longer you put your money away, the higher interest rate you can secure. However, rates can change. A fixed term deposit of one or two years gives you the flexibility to capitalise on any rate increases.

What else should I consider when comparing savings accounts?

Interest rates and payments

How much return can I expect to receive on my money?

With Raisin Bank, the return you will receive is displayed in the overview above. The easiest way to compare interest rates is to look at the annual equivalent rate (AER). It’s sometimes referred to as the effective rate.

How often can I expect to be paid my interest?

Some savings accounts pay interest quarterly, others on an annual basis. You can check this at a glance by clicking on the individual offer for more information.


All accounts we offer are completely free with no hidden costs. Some traditional banks require you to put a certain amount into your account each month to “activate” the full interest rate. We don’t work that way.

You simply type in how much you want to deposit, how long for, and we’ll show you how much interest you’ll make.


Unless sponsored by the state, Irish savings are often subject to Deposit Interest Retention Tax (DIRT). As of 2019, the rate stands at 35% on any interest earned.

Learn more about DIRT >

Learn more about taxation >

Which type of savings account offers the best interest rates?

Banks always offer higher interest rates for fixed term savings accounts. The key here is certainty. They know they will have your deposit for the agreed duration, which can be anywhere between three months and ten years. Likewise, you know exactly how much you’ll receive. With Raisin, the top interest rate is currently 1.17% p.a.

What exactly is a fixed term savings account?

This is where you save a lump sum, and are guaranteed a fixed interest rate for a fixed amount of time (term). They are sometimes also referred to as fixed rate bonds, deposit accounts, or simply bonds. You don’t have access to your money during the agreed period.

To find the account that suits you, you should weigh up the interest rate and term. Some accounts also have a minimum or maximum deposit amount. With, you can open as many fixed term accounts with different banks as you like, and you can check them all in one place in your account overview.

No more jumping through hoops

Do away with introductory rates and complicated conditions

We’ve all been there. A bank offers competitive interest rates on savings accounts, only to sink the rates just a few months later. The only way to make the most of this type of offer is to switch bank accounts every few months – and that game can get tiring fast.

Other banks require their customers to hold an additional current account at the same bank in order to “unlock” the higher rates for savings accounts.

At Raisin Bank, we want to simplify the whole process. So we’re doing away with introductory rates and complicated account eligibility restrictions. We believe in enabling every saver to access the most exclusive rates.

What you see is what you get

For each of our fixed rate savings accounts listed above, what you see is what you get: the interest rate doesn’t change, so you can lock in the rate you see for one, two, or even ten years. Even if Irish interest rates were to sink lower, you can sit back and relax, knowing that your agreed rate won’t be affected.

Full peace of mind: Your savings are secured by the European deposit guarantee scheme

You might decide that the best savings account for you isn’t actually in Ireland. But there’s good news – saving in Europe has never been easier thanks to the European deposit guarantee scheme (EDIS). It covers up to €100,000 per person, per bank, anywhere in Europe. This is thanks to EU Directive 1994/19/EC and 2009/14/EC. And the best part? This amount includes any interest you make on your deposit (up to €100,000). As a European savings marketplace, Raisin Bank enables Irish savers access to higher rates across Europe, with everything in your language.

How it works: All about

Yes. Please bear in mind that we do not send any information documents by post. All information is available at Your product selections need to be made online. You will then receive the contractual documents to print out and sign – if required.

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At, you can choose attractive deposit offers from European banks – online and from the comfort of your home. This is how it works:


  1. Open a Raisin Account with Raisin Bank via To successfully open the account please complete the registration process online. Additionally, we will ask you to provide a copy of your Passport and complete the Videoident process. You will then receive your personal login details by post and will be able to transfer funds to your Raisin Account.
  2. You will then be able to choose a deposit product from one of our partner banks in’s Online Banking System and submit the required documents. The opening of the deposit account as well as the transfer of funds to the partner bank occurs automatically. All important documents will be posted to your electronic mailbox in the Online Banking System.
  3. At the end of the agreed term, the partner bank will transfer the funds including accrued interest (less withholding tax) back to your Raisin Account unless you choose to prolong your term deposit, which you can easily arrange in the Online Banking System. Please note that you will only be able to prolong your term deposit.

Please note that it usually takes around 5 business days to open the term deposit account after we have received the necessary documents along with the funds.

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The security of your data is of paramount importance to us. Therefore, we strive to use the latest security standards and technology to ensure you feel protected. Our firewall prevents unauthorized external access to your data in our system and our multi-step encryption and identification system ensures that unauthorized persons can neither intercept your data nor make it readable.

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If you are a resident of Ireland and are at least 18 years of age and acting on your own behalf, we will be able to open a Raisin Account for you as a single account.

In addition, it is necessary that you accept the Terms & Conditions of Raisin Bank.

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No. We would like to emphasize that at no point will make recommendations concerning specific products or partner banks. We do not know your personal and individual asset position nor the investment goals you are pursuing, and therefore we are in no position to provide such advice. We appreciate your understanding in this regard.

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Raisin Bank AG receives a commission from the partner banks. These commissions enable Raisin Bank to provide their services free of charge to you while continuously improving the quality of these services. We are not able to disclose details about these commissions.

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The reference account, the bank account you specified during registration, is a normal current account (such as your salary account) held at a bank in your home country. This reference account is the only account to which you can transfer funds from your Raisin Account.

The Raisin Account is a current account accruing no interest at Raisin Bank, serving as your central online transaction account. When you select a deposit we will debit your Raisin Account and credit the respective amount to your Deposit Account.

Deposit Accounts are accounts which accrue interest held with one of our partner banks. For each deposit product you choose, a new Deposit Account is opened with the respective partner bank. After creating the Deposit Account, the amount you wish to deposit will automatically be transferred from your Raisin Account. At maturity, you then have three options: you may either prolong the deposit, select an alternative deposit product, or the money will be automatically transferred back to your Raisin Account. Please note, that if you take no action, upon maturity, the amount deposited including interest (less withholding taxes if applicable) will be returned to your Raisin Account. There is no automatic rollover.

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