Bank of Ireland increases 1 and 2 year deposit rates

• New 2-year fixed-term deposit rate for personal and business customers of 3.00% (5.98% return over full 2-year term)
• New 1-year fixed-term deposit rate for personal and business customers of 2.50%
• No upward limit on funds that can be deposited or on funds that will attract interest
• No fees or subscriptions required to access these rates
• No need to have a Bank of Ireland current account
• Up to 25% of funds can still be withdrawn during the term
• Protected by the Central Bank of Ireland Deposit Guarantee Scheme

Wednesday 29 May – Bank of Ireland has today announced two new fixed-term deposit accounts with higher rates, flexible features like the ability to access some of their funds during the term, and with no limit on the savings balance and interest paid on the full balance. There is no requirement to have a Bank of Ireland current account, and no fees or subscriptions to access these rates.

New 2-year Advantage Fixed-Term Deposit Account offering 3.00% and no maximum limit

The Bank is introducing a new 2-year fixed-term deposit account with a rate of 3.00%, an increase of 1.00% on current 2-year fixed-term deposit rates (5.98% return over full 2-year term). There is no upward cap on the savings balance, with interest paid on the full balance. Customers can also access up to 25% during the term.

New 1-year Advantage Fixed-Term Deposit Account offering 2.50% and no maximum limit

We are also introducing a new 1-year fixed-term deposit account with a rate of 2.50%, an increase of 0.50% on the current 1-year rate. There is no upward cap on the savings balance, with interest paid on the full balance. Customers can access up to 25% during the term.

The new rates announced today are available from June 6 and accounts can be opened online, via our mobile app, or in any of Bank of Ireland’s 169 branches nationwide.

Susan Russell, Director, Retail Ireland, said: “Our new one and two-year fixed-term accounts offer better rates along with flexible features like being able to access some of your cash if needed and easy account opening in-branch or online. There is no requirement to open a current account and no fees or subscriptions to access these rates. And, like all our products, they’re backed by our customer service offering including a nationwide branch network and our contact centres.”