Compare savings accounts from across Europe
✓ Compare savings accounts with interest rates up to 2.76% AER, and find one that suits you
✓ Manage your money easily online, with no fees, endless logins, or paper application forms
✓ All of our savings accounts are protected by European Deposit Guarantee Schemes
"Best Savings Provider" 2025
Featured on the CCPC Money Tools
Member of the Contact Centre Management Association (CCMA)
Raisin.ie in the media
Top types of savings accounts at a glance
You’re likely to earn the most interest with this type of savings account. However, you’re agreeing to ‘lock’ the money away until the end of a set term, so you won’t be able to withdraw any money until then.
Fixed term deposits or deposit accounts offer guaranteed returns on your savings over a set term, typically between six months and five years. Interest rates on fixed term deposit accounts are often better than standard or demand deposit accounts and are usually more competitive the longer your term is. If you have a lump sum of money that you want to grow and can afford to lock away, deposit accounts might be right for you.
Could a deposit account be right for me?
As you’ll be locking your money away for a set term, a deposit account, also known as fixed term deposits, could be ideal if you have a long term savings goal and you know you definitely won’t need access to the money during this time. It could also be a good option if you’re looking for the most competitive rate of return on your money.
This is one of the most flexible types of savings accounts. You can withdraw money whenever you want, whilst still keeping your demand deposit account open.
As the name suggests, demand deposit accounts have minimal restrictions and allow you to top-up or withdraw your money easily and at your convenience. Typically, demand deposit accounts offer variable interest rates, meaning that the rate could both increase and decrease.
Could a demand deposit account be right for me?
A demand deposit account could be ideal if you’re looking for flexibility, and you want the freedom to make withdrawals and top up your savings as and when it suits you. It could be a good option if you have a short term savings goal, or you just want to put money away regularly whilst still earning a high street-beating rate of interest.
How is interest paid on savings accounts in Ireland?
How interest is paid depends on your savings account, so it’s best to check the details to make sure you’re getting an account that’s right for you. It’s common to receive interest payments once a year, either on a predetermined date or on your account opening anniversary. Some accounts pay out interest monthly, and some may pay quarterly. In the case of fixed term deposits, you may only receive an interest payment when your account matures, which could be up to five years.
You’ll usually receive interest payments into a bank account you nominate, or the interest you earn can go straight back into your savings account. If you have a preference, make sure you check this when you're initially comparing savings accounts.
Do I pay tax on money in a savings account in Ireland?
You will have to pay tax on the money you have saved, as the interest you earn on your savings is subject to Deposit Interest Retention Tax (DIRT). In 2024, DIRT is 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 demand deposit accounts offered on Raisin.ie, 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 savings 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 Bank 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.