Bank of Ireland is one of Ireland's largest banks. Here's whether their savings accounts deserve your money.
BOI Savings Rates Overview
| Account | Rate | Type | Verdict |
|---|---|---|---|
| Supersaver | 3% Year 1, 2% Year 2+ | Regular saver | Good for monthly |
| On Demand Deposit | 0.10% | Instant access | Terrible |
| 1-Year Fixed | 1.75% | Fixed term | Below average |
| 2-Year Fixed | 1.95% | Fixed term | Below average |
BOI Supersaver (Regular Saver)
Rate: 3.00% Year 1, 2.00% Year 2+ Max deposit: €2,500/month (max €30,000 balance) Term: Ongoing
Why BOI Supersaver Is Good
Compared to AIB Online Saver:
- Higher limit: €2,500/month vs €1,000/month
- No fixed term: Continues after 12 months
- Two withdrawals allowed per year
The Catch
- Rate drops to 2% after Year 1
- Maximum balance of €30,000
- Miss a month and it affects rate
BOI On Demand Deposit
Rate: 0.10% (0.06% after DIRT) Access: Instant
The Reality
€50,000 in BOI On Demand earns:
- Gross: €50/year
- After DIRT: €30/year
The same €50,000 in Bunq earns:
- Gross: €1,005/year
- After DIRT: €593/year
You're losing €563/year by keeping money in BOI.
Verdict
BOI On Demand is even worse than AIB (0.10% vs 0.25%). Move lump sums immediately.
BOI vs AIB Savings
| Factor | BOI | AIB |
|---|---|---|
| Regular saver rate | 3% Year 1, 2% Year 2 | 3% (12 months) |
| Regular saver limit | €2,500/month | €1,000/month |
| On demand | 0.10% | 0.25% |
| 1-Year fixed | 1.75% | 2.00% |
Regular saver: BOI wins (higher limit, no fixed term) Everything else: AIB wins (slightly) Neither wins: Neobanks beat both for lump sums
Summary
| BOI Account | Worth It? | Alternative |
|---|---|---|
| Supersaver | ✅ Best monthly limit | None with higher limit |
| On Demand | ❌ Worst rate | Bunq (2.01%) |
| Fixed Term | ❌ Below average | Raisin (2.80%) |
Bottom line: BOI Supersaver is good for high-volume monthly savings. Everything else is poor.
Last updated: January 2026