AIB is Ireland's largest bank, but are their savings accounts any good? Here's the honest breakdown.
AIB Savings Rates Overview
| Account | Rate | Type | Best For |
|---|---|---|---|
| Online Saver | 3.00% | Regular saver | Monthly savings |
| Demand Deposit | 0.25% | Instant access | Avoid |
| 1-Year Fixed | 2.00% | Fixed term | Lump sum (if you must stay with AIB) |
| 2-Year Fixed | 2.26% | Fixed term | Longer lock-in |
AIB Online Saver (Regular Saver)
Rate: 3.00% (1.77% after DIRT) Max deposit: €1,000/month Term: 12 months
How It Works
- Open via AIB app or online banking
- Save €10-€1,000 per month
- Interest paid at end of 12 months
- Account closes, money moves to current account
The Reality
The 3% rate sounds great, but:
- Only applies to €1,000/month maximum
- Your existing savings earn almost nothing
- After 12 months, rate drops to 0.25%
- One withdrawal closes the account
Verdict
The Online Saver is fine for new monthly savings, but don't put lump sums in AIB expecting 3%.
AIB Demand Deposit
Rate: 0.25% (0.15% after DIRT) Access: Instant
The Problem
€50,000 in AIB Demand Deposit earns:
- Gross: €125/year
- After DIRT: €74/year
The same €50,000 in Bunq earns:
- Gross: €1,005/year
- After DIRT: €593/year
You're missing out on €519/year by leaving money in AIB.
Verdict
Do not use AIB Demand Deposit for savings. Move to Bunq or Trade Republic.
AIB Fixed Term Deposits
| Term | Rate | Minimum | After DIRT |
|---|---|---|---|
| 1 Year | 2.00% | €15,000 | 1.18% |
| 2 Years | 2.26% | €15,000 | 1.33% |
| 3 Years | 2.28% | €15,000 | 1.35% |
Are AIB Fixed Terms Worth It?
Compared to alternatives:
| Option | 1-Year Rate | After DIRT |
|---|---|---|
| AIB | 2.00% | 1.18% |
| Raisin (Aareal) | 2.80% | 1.65% |
| State Savings (5-yr) | 1.74% | 1.74% |
AIB fixed terms are competitive but not best-in-class.
AIB Savings Strategy
For Monthly Savings
- Use Online Saver (3% on up to €1k/month)
- Set up standing order on payday
- Set reminder for month 11 to review
For Lump Sums
- Don't use AIB Demand Deposit
- Move to Bunq (2.01% instant access)
- Or Raisin (2.80% 1-year)
Pros and Cons
Pros
✅ Online Saver at 3% is competitive (for regular savers) ✅ Large branch network ✅ Full Irish deposit guarantee
Cons
❌ Demand Deposit rate is terrible (0.25%) ❌ High minimum for fixed terms (€15,000) ❌ Online Saver limited to €1k/month
Summary
| AIB Account | Worth It? | Alternative |
|---|---|---|
| Online Saver (3%) | ✅ For monthly savings | None better in Ireland |
| Demand Deposit (0.25%) | ❌ No | Bunq (2.01%) |
| Fixed Term (2%) | ⚠️ Maybe | Raisin (2.80%) |
Bottom line: Use AIB Online Saver for monthly savings. Move lump sums elsewhere.
Last updated: January 2026