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.