One of the most recognized banking systems famous for having the lowest rates in Europe is that of Ireland. Not being an offshore zone, it is characteristic in Ireland that its tax schemes are zero-rate. At the same time, the Irish legislation provides for the reduction of income tax to 10% of the amount of the taxable income.

Therefore, individuals and legal entities have facilities to open a bank account since having a bank account is not an option that can be overlooked. Having a bank account in Ireland has become essential to collect your salary or pay taxes and bills. 

The different Irish banks offer all types of accounts to their customers, current, savings, and even digital accounts. In this post, we want to introduce you to the best savings accounts in Ireland. Each of them is designed to offer the greatest benefit to its users.


Top 5 best savings accounts in Ireland.

All Irish banking institutions offer in their product portfolio a variety of savings accounts for their customers. Each one of them is designed for the different needs of their users. Here are the five best savings accounts in Ireland. 

  1. Ulster Bank Cash ISA

We start this top 5 with Ulster Bank and its Cash ISA account. An ISA, or Individual Savings Account, is a savings or investment account that offers the opportunity for its users to save or invest annually a set amount of money tax-free based on the profit generated from investments or savings.



  • Interest is paid on the balance of the account, i.e. on a staggered basis.
  • Interest is calculated daily and is deposited into the Ulster Bank account in the client’s name on the last business day of the month or when the account is closed.
  • There is no minimum deposit required to open the account and no regular deposits are required.
  • It has no maximum balance limit.
  • You can make withdrawals by branch, by transfer to any other UK-based account, or by using the CashCard.
  • There are daily limits on the amount to be transferred from the online account, mobile banking, or by telephone.
  • The Cash ISA can be applied for by customers over the age of 16 who already hold an Ulster Bank current account. In addition, the applicant must be permanently resident in the UK for tax purposes.
  1. AIB Bank Student Savings Account

The fourth place in this top 5 is occupied by AIB Bank’s student account. Saving is a habit that should be cultivated from the earliest years of life and will transcend over time. 

A child who has been trained in the principle of saving will be a young person with a character who will not hesitate to choose to save for the future. That is why AIB Bank has designed its student savings account for them.


  • It is a savings account designed for students between 12 and 17 years of age.
  • It is a very simple and easy-to-use account. The user can deposit any amount of money into the account at any time.
  • It offers flexibility in withdrawing funds from the account at any time.
  • This account can only be opened at any AIB Bank branch.
  • A user may only open a student savings account as it is a single account and available on the customer’s account.
  • If the user is under 16 years of age, they must have the acceptance of their parents or guardians to open the account, and the identification of the user, the parents or guardians, and their address must be accredited.
  • This savings account does not issue an AIB debit card for the student.
  • If the applicant is not a holder of any AIB Bank banking product, they must prove their identity and address.
  • It offers the best interest rate in the market. If you save up to 1.000 € or more, the interest rate will be lower.
  1. Ptsb’s Regular Online Savings Account

Positioned in third place is Permanent TSB with its regular online savings account. If you are one of those who prefer to bank and manage the account online and also have a forward-thinking culture and like to save a little when you have some money left over or plan to save a monthly amount, this account is for you.


  • Unlimited access to the account 24 hours a day 365 days a year.
  • This account can only be applied for by logging in with Open24 online banking from a laptop or desktop computer. It cannot be applied  via branch or app. 
  • The application process is very simple and easy to perform. Just log in to Open24 and follow a few simple steps to complete the application.
  • It is an online-only account and to apply for it you must be a Ptsb customer and a registered Open24 user.
  • It is a personal account so it is only possible to open, manage, and operate the account with login details in the user’s name. 
  • A user can have a maximum of one regular online savings account.
  • Earn 2.50% Gross on balances up to and including €50,000.
  • The applicant must be a resident of Ireland, as upon opening this account a confirmation code will be sent by text message to an Irish mobile number.
  1. Bank of Ireland Advantage Fixed Term Deposit Account

The second place in this ranking is occupied by the Bank of Ireland and its Advantage Fixed Term Deposit Account. A product designed to enable its users to earn on their funds up to 2% fixed interest AER or Annual Equivalent Rates quoted 365 days.

This account offers a better return on lump sum and even on future long-term savings. It is an easy-access account that provides security to its users money with a fixed interest rate.


  • It is an account that can be applied for online or at the bank’s branches in the minimum time frame.
  • It is a single lodging account, which means that no other payments or credits can be made to the account apart from the initial deposit.
  • This account has terms of 6, 12, and 24 months.
  • This account is available for new users or regular customers of Bank of Ireland.
  • Interest earned on this account is anchored at the current rate of Withholding Tax on Deposit Interest.
  • The minimum lodgement amount of this account is €5,000, and there is no maximum lodgement amount.
  • It has the possibility of withdrawing up to 10% of the lodged amount for the terms chosen by the user.
  • The interest generated by this account is credited to the account at the maturity of the account.
  1. AIB Bank’s personal demand deposit account

And the first place in this top 5 of the best savings accounts in Ireland, AIB Bank is positioned and repeated, this time with its personal demand deposit account. A product designed for the user to manage their savings in their own way, since they will have instant access to their money, regardless of the amount or frequency of operations.


  • It is an account that can be easily opened at any branch or online and you will only need a few minutes to do so.
  • The user will be able to withdraw his money whenever he wants without any type of restriction or penalty.
  • This savings account has a daily variable interest rate.
  • The user of this account can save a lump sum or save a little as often as they want.
  • The user has instant access to his money and can do so from the AIB Mobile App, from any of the bank’s branches, or through Internet Banking.
  • A user can open up to four personal demand deposit accounts in their name.
  • With this account, you can save up to €1,000,000.

Saving is the opportunity to save money while thinking about plans. In this post, we presented you with the 5 best options in the Irish banking market. If you have not yet decided which one is the most convenient for you, we invite you to carefully study each of the features and you will surely find the account that fits your wishes.