Irish banks are failing to offer the competitive savings rates found elsewhere in Europe. Photo: Getty ImagesDigital bank Bunq has launched a new instant-access savings account that will pay 10 times more than a similar account with AIB. The Bunq Easy Savings account will prove attractive for those with savings in overnight accounts that are earning little or nothing. However, some €142bn of these savings are instant-access accounts paying an average interest rate of just 0.11pc. What the CSO defines as the household savings rate fell from 10.91pc in the second quarter of this year to 9.58pc in the third quarter.

Source: Irish Independent December 09, 2023 13:42 UTC