AIB Savings Account Rates
AIB offers a range of savings accounts including online savings that is available and can be managed on their highly regarded mobile banking app to help you achieve your financial goals. Savings account interest rates for big traditional banks are generally low and will not make a any massive boost to your savings. Depending on your purpose to get a savings account, you may want to research higher rates of savings and other investment types elsewhere.
If you are looking for a safe and reliable way to save your money, you might want to consider opening a savings account with AIB. AIB offers a range of savings products that can suit different needs and goals, whether you want to save regularly, put away a lump sum, or start saving from a young age.
Though AIB interest rates may not be that impressive. Ireland largest bank also routinely offers “everyday rewards” through earning cash backs on brands you love. There’s a huge selection fantastic brands on offer – from Lidl, Eason and Boots to H&M and Elverys. AIB rewards its loyal customers with various benefits and discounts, such as cashback on selected purchases, lower interest rates on loans and mortgages, free travel insurance, and access to exclusive offers and events. Another big advantage offered to AIB customers is access to a massive branch and ATM network.
List of AIB Savings Account Rates
| Account Name | Gross % | AER % | Minimum | Maximum |
|---|---|---|---|---|
|
Online Saver – online regular saver rate |
3.00% |
3.00% |
€10 |
€1,000 per month |
|
Online Saver – online standard saver rate |
0.25% |
0.25% |
Above max monthly threshold |
No Maximum |
|
Junior/Student Saver |
3.00% 0.25% |
3.02% 0.25% |
€0 €1,000.01 |
€1,000.00 No Maximum |
AIB offers two main savings account options: AIB Online Saver, and AIB Junior/Student Saver Savings account.
AIB Online Saver is a deposit account to which you may lodge or withdraw money at any time. The AIB Online Saver is a flexible and convenient savings account that you can open and manage online or on the AIB Mobile App. You can start saving from as little as €10 per month, up to a maximum of €1,000 per month. The AIB Online Saver is ideal for savers who want to build a savings habit and earn a high interest rate on their regular deposits. However, if you want to save more than €1,000 per month or access your money at any time, you might want to look for another option. The AIB Online saver offers two different rate, regular saver rate and standard saver rate depending on your monthly threshold. The variable rate of interest is earned each day and be put into your account each April.
- The Online Regular Saver Rate is the rate applied rate on the balance in the account up to and including a maximum of €1,000 a month and which increases by €1,000 every month from the date of the first lodgement to the Account (the “Monthly Limit”) for a period of twelve months. The rate is 3.00% gross/AER and applies to amounts up to €1,000 per month for a 12-month Saver Period. This means that if you save €1,000 every month for a year, you will earn €183.15 in interest (before tax).
- The Online Standard Saver Rate is the rate applied on the balance in the account over and above the monthly limit described above. You can start savings as little as €10 a month up to a maximum of €1,000,000. The Online Standard Saver Rate is 0.25% gross/AER and applies to balances above the Maximum Monthly Threshold (€1,000) or after the 12-month Saver Period ends. This means that if you have more than €1,000 in your account or you stop saving regularly, you will earn a lower interest rate on your savings.
The AIB Junior/Student Saver is a savings account designed for young savers aged 7-17. You can open this account with any amount from €0 and earn 3.00% gross/AER on balances up to €1,000 and 0.25% gross/AER on balances above €1,000. This account allows young savers to learn about saving and managing money while earning a high interest rate on their first €1,000. They can also access their money at any time without any penalty. The AIB Junior/Student Saver is ideal for young savers who want to start saving from an early age and earn a high interest rate on their first €1,000. However, if they want to save more than €1,000 or earn a higher interest rate on their entire balance, they might want to look for another option.
How AIB Savings Account Rates Compares to other Banks
AIB offers savings accounts with low interest rates that are not attractive. You could earn a significantly higher yield on savings or other investment products at other online banks and credit unions.
Other Savings Options at AIB
In addition to savings accounts, AIB offers other deposit accounts to assist with building your savings, although you can find much higher rates elsewhere.
Lynda Unogu MBA IMC (CFA UK) PMP
Lynda holds an MBA from University College Dublin and worked previously in product roles within financial services and technology firms like Mastercard, Citi Bank and JP Morgan. She constantly seeks to apply her expertise in financial services to the field of personal finance with the goal of helping people navigate the complexities of the finance.
