Bank of Ireland deposit rates
From today, 28 June, Bank of Ireland is increasing its 1 Year Term deposit account rates by a further 0.50%. This allows both personal and business customers to earn 1.25% on its 1 Year Advantage Fixed Term Deposit & 365 12 Month Fixed Term accounts, without limit.
It follows the launch of the Bank’s SuperSaver deposit account with 1.5% rate for the first 12 months and €100 off home or car insurance, now available online and in-branch.
Bank of Ireland rate changes to date:
The European Central Bank (ECB) has increased the Euro refinance rate by a cumulative 4% since July 2022.
Deposits
To date, Bank of Ireland has:
- Ended the application of negative interest rates to customer accounts (August 2022);
- Increased the rate on Regular Savings accounts to 1% (January & May 2023);
- Launched a new SuperSaver account offering 1.5% for first 12 months and €100 insurance rebate. This offers savers a special fixed rate of 1.5% for the first 12 months up to a limit of €30k, after which it will default to the Standard Regular Saver rate (currently 1%). As a further incentive, customers will receive a rebate of €100 on a Bank of Ireland home or car insurance. To encourage younger savers there is no minimum monthly lodgement required and 16 upwards can open this account (May);
- Launched a new 1-year term deposit account for personal customers and increased the rate to 1.25% (January, May & June 2023);
- Announced a new 1-year term deposit account for business customers and increased the rate to 1.25% (March, May & June 2023).
Mortgages
To date, Bank of Ireland has:
- Increased fixed-rates for new mortgage customers by 1.50%;
- Increased fixed-rates for existing mortgage customers by 1.00%;
- Made no changes to variable rates;
- Increased tracker rates in line with ECB rates.