Between promotions, PR, and false promises, it can be difficult to find a fair comparison of what is really on offer to savers in the Irish market. Here we break down the top rates available in 2026 and show exactly what you get in your pocket once the fine print is applied.
The Rate You See vs The Rate You Get
| What Banks Advertise | Who It's For | What Most People Get |
|---|---|---|
| AIB 3.00% | Monthly deposits up to €1,000 | 0.25% on lump sums |
| BOI 3.00% | Monthly deposits up to €2,500 | 0.10% on lump sums |
| "Up to 3%" | New regular savers only | 0.10-0.25% for existing savings |
Got a lump sum sitting in savings? You need an instant access account, not a regular saver. The rates are completely different.
Best for Lump Sums (Instant Access)
If you have €5,000, €20,000, or €100,000 sitting in savings, these are your best options:
| Provider | Rate | After DIRT | Max Balance | Access | Protection |
|---|---|---|---|---|---|
| Bunq | 2.01% | 1.19% | €100,000 | Instant | Dutch €100k |
| Trade Republic | 2.00% | 1.18% | €50,000 | Instant | German €100k |
| TF Bank (Raisin) | 2.17% | 1.28% | €85,000 | Instant | Swedish €100k |
| Revolut | 1.50-2.25% | 0.89-1.33% | Varies | Instant | Lithuanian €100k |
| N26 | 0.30-2.00% | 0.18-1.18% | €100,000 | Instant | German €100k |
| AIB | 0.25% | 0.15% | Unlimited | Instant | Irish €100k |
| Bank of Ireland | 0.10% | 0.06% | Unlimited | Irish €100k |
Our Recommendation: Bunq or Trade Republic
Why Bunq:
- 2.01% on up to €100,000
- Free account available
- Instant access anytime
- Dutch deposit guarantee (same as Irish)
- App-based, opens in minutes
Why Trade Republic:
- 2.00% on up to €50,000
- Also an investment platform (if you want)
- German deposit guarantee
- Clean, simple interface
The maths on €50,000:
- At Bunq (2.01%): €1,005/year gross, €594 after DIRT
- At AIB (0.25%): €125/year gross, €74 after DIRT
- Difference: €520/year
Best for Monthly Savings (Regular Savers)
If you can commit to saving €100-€1,000 per month, these rates are genuinely good:
| Provider | Rate | Max/Month | Term | After DIRT |
|---|---|---|---|---|
| AIB Online Saver | 3.00% | €1,000 | 12 months | 1.77% |
| BOI Supersaver | 3.00% | €2,500 | 12 months | 1.77% |
| EBS Family Savings | 3.00% | €1,000 | 12 months | 1.77% |
| PTSB Regular Saver | 2.50% | €1,000 | Ongoing | 1.48% |
The Catch with Regular Savers
These 3% rates have limitations:
- Only applies to new deposits each month
- Maximum €1,000-€2,500/month
- Often only for first 12 months
- Your existing lump sum earns almost nothing
Example: You have €30,000 in AIB and add €500/month
- Your €30,000 earns 0.25% = €75/year
- Your new €500/month earns 3% = ~€97/year (on average balance)
- Total: ~€172/year on €36,000 = effective rate of 0.48%
Better strategy: Move lump sum to Bunq (2.01%), use regular saver for new savings.
Best for Tax-Free Returns (State Savings)
State Savings are exempt from DIRT. This makes them competitive despite lower headline rates:
| Product | Rate | Term | Tax-Equivalent Rate |
|---|---|---|---|
| 10-Year National Solidarity Bond | 2.01% | 10 years | 3.41% |
| 5-Year Savings Certificate | 1.74% | 5 years | 2.95% |
| 4-Year National Solidarity Bond | 1.00% | 4 years | 1.69% |
| Savings Bond | 1.32% | 3 years | 2.24% |
When State Savings Make Sense
- You won't need the money for 3-10 years
- You're in the 41% DIRT bracket (everyone is)
- You want guaranteed, government-backed returns
The maths:
- Bunq at 2.01% after DIRT = 1.19%
- State Savings 5-Year at 1.74% tax-free = 1.74%
- State Savings wins if you can lock away for 5 years
Best for Higher Returns (Fixed Term via Raisin)
Raisin.ie gives Irish savers access to EU bank rates:
| Bank (via Raisin) | Rate | Term | Minimum |
|---|---|---|---|
| Aareal Bank | 2.80% | 1 year | €1,000 |
| Hamburg Commercial | 2.80% | 1 year | €5,000 |
| Rietumu Bank | 2.81% | 2 years | €5,000 |
| Collector | 2.75% | 1 year | €500 |
Is Raisin Safe?
Yes. Each bank on Raisin is covered by its home country's deposit guarantee (€100,000). This is the same protection level as Irish banks.
Note: DIRT is not deducted at source. You must declare interest to Revenue.
Quick Decision Guide
"I have €10,000 sitting in AIB doing nothing"
Move to Bunq (2.01% vs 0.25%). You'll earn €201/year instead of €25.
"I want to save €500/month"
Open AIB Regular Saver (3% on new deposits). Keep existing lump sum elsewhere for best returns.
"I won't need this money for 5+ years"
State Savings Certificate (1.74% tax-free = 2.95% equivalent) or Raisin fixed term (2.80%).
"I want the absolute highest rate"
Raisin fixed term (up to 2.80%). Note: money is locked for 1-2 years.
"I just want simple and safe"
Bunq or Trade Republic (2% instant access). EU-protected, app-based, takes 10 minutes to set up.
Understanding DIRT Tax
DIRT (Deposit Interest Retention Tax) = 41%
This applies to almost all savings interest in Ireland. Banks deduct it automatically.
| Gross Rate | After DIRT (41%) |
|---|---|
| 3.00% | 1.77% |
| 2.50% | 1.48% |
| 2.00% | 1.18% |
| 1.50% | 0.89% |
| 1.00% | 0.59% |
Exception: State Savings are DIRT-free.
Are Neobanks Safe?
Common concern: "Is my money safe in Bunq/Trade Republic/Revolut?"
Yes. Here's why:
| Provider | Guarantee | Protection | Same as Irish Banks? |
|---|---|---|---|
| Bunq | Dutch DGS | €100,000 | ✅ Yes |
| Trade Republic | German DGS | €100,000 | ✅ Yes |
| Revolut | Lithuanian DGS | €100,000 | ✅ Yes |
| N26 | German DGS | €100,000 | ✅ Yes |
The €100,000 deposit guarantee is EU-wide. Dutch, German, or Lithuanian protection is legally equivalent to Irish protection.
Full Deposit Guarantee Guide →
Why Irish Banks Pay So Little
AIB and Bank of Ireland made ~€2 billion profit each in recent years. Part of this comes from:
- Taking your deposits (paying you 0.10-0.25%)
- Depositing with ECB (earning ~3-4%)
- Pocketing the difference
Irish savers are collectively missing out on ~€3 billion per year by leaving money in low-rate accounts.
The fix: Move your money. Neobanks and EU alternatives pay 10-20x more.
How to Switch (It's Easy)
To Bunq:
- Download Bunq app
- Verify identity (photo ID + selfie)
- Transfer money from Irish bank
- Done. Earning 2.01% immediately.
To Trade Republic:
- Download Trade Republic app
- Verify identity
- Transfer funds
- Money earns 2% automatically
To Raisin:
- Register at raisin.ie
- Verify identity
- Choose savings product
- Transfer funds
- Interest paid at term end
Time required: 10-15 minutes for any of these.
Summary: Best Savings Accounts 2026
| Situation | Best Choice | Rate |
|---|---|---|
| Lump sum, instant access | Bunq | 2.01% |
| Lump sum, instant access (alt) | Trade Republic | 2.00% |
| Monthly savings | AIB Regular Saver | 3.00% |
| Long-term (5+ years) | State Savings Certificate | 1.74% (tax-free) |
| Highest rate (1-year lock) | Raisin (Aareal Bank) | 2.80% |
Don't leave money in AIB/BOI instant access accounts. You're earning 0.10-0.25% when you could earn 2%+.
Last updated: January 2026. Rates change—verify before opening accounts.