Raisin is a marketplace connecting Irish savers with EU banks offering higher rates. Here's how it works and whether it's right for you.
Raisin at a Glance
| Feature | Detail |
|---|---|
| Best Rate | Up to 2.80% (1-year fixed) |
| Type | Marketplace (not a bank) |
| Minimum | €500-€5,000 depending on bank |
| Protection | Home country guarantee per bank |
| DIRT | Not deducted (self-assess) |
How Raisin Works
Raisin isn't a bank—it's a platform connecting you with EU partner banks:
- Open one Raisin account (free)
- Browse partner bank rates
- Choose a savings product
- Transfer money via Raisin
- Money goes to partner bank
- Interest paid at maturity
- Withdraw via Raisin
Your money is held by the partner bank, protected by that bank's country guarantee.
Current Raisin Rates (January 2026)
Instant Access
| Bank | Rate | Minimum | Country |
|---|---|---|---|
| TF Bank | 2.17% | None | Sweden |
| Nordax Bank | 2.07% | None | Sweden |
1-Year Fixed
| Bank | Rate | Minimum | Country |
|---|---|---|---|
| Aareal Bank | 2.80% | €1,000 | Germany |
| Hamburg Commercial | 2.80% | €5,000 | Germany |
| Collector | 2.75% | €500 | Sweden |
2-Year Fixed
| Bank | Rate | Minimum | Country |
|---|---|---|---|
| Rietumu Bank | 2.81% | €5,000 | Latvia |
| Collector | 2.69% | €500 | Sweden |
Is Raisin Safe?
Yes, but understand the structure:
Partner Banks
Each bank is separately protected by its home country deposit guarantee (€100,000). This is the same protection level as Irish banks.
| Bank | Country | Guarantee |
|---|---|---|
| Aareal Bank | Germany | German DGS |
| TF Bank | Sweden | Swedish DGS |
| Collector | Sweden | Swedish DGS |
| Rietumu Bank | Latvia | Latvian DGS |
DIRT Tax on Raisin
Important: Raisin does NOT deduct DIRT at source.
You must:
- Track interest earned
- Declare on annual tax return
- Pay 41% DIRT yourself
Raisin vs Alternatives
Raisin vs Bunq
| Factor | Raisin (1-year fixed) | Bunq |
|---|---|---|
| Rate | 2.80% | 2.01% |
| After DIRT | 1.65% | 1.19% |
| Access | Locked 1 year | Instant |
| DIRT handling | Self-assess | Automatic |
Raisin wins on rate if you can lock money.
Pros and Cons
Pros
- Higher rates than Irish banks
- Access to multiple EU banks
- €100,000 protection per bank
- Good for diversification
Cons
- DIRT not deducted (self-assessment required)
- Money locked for term
- Some banks have high minimums
- Extra admin vs traditional bank
Verdict
Rating: 3.5/5
Raisin offers genuinely higher rates, but the self-assessment requirement and fixed terms limit appeal. Best for organised savers seeking maximum returns on money they won't need.
Last updated: January 2026