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PTSB Savings Account Rates

PTSB Savings Account Rates

PTSB is one of three big traditional banks in Ireland and its offers about four that offers savings accounts for adults and kids at different rates. You can find slightly higher rates elsewhere, but PTSB flexible terms and easier access to your funds.
PTSB is known as a leading provider of retail and SME banking in Ireland and has been making significant progress in its digital banking journey. PTSB is its digital offering. PTSB has invested in improving its online and mobile banking platforms, making them more user-friendly, secure and convenient.

51% of its account opening is done through the banks mobile app. PTSB savings account can be opened online or in branch and you can access your money 24/7 through online banking or the mobile banking app. Additionally, there is no minimum deposit required and no monthly fee.
In 2022 alone, PTSB opened over 43,000 new deposit accounts which reflected an increase of 87% year on year.

List of PTSB Savings Account Rates

PTSB offers a range of savings account for adults and savings account as well designed for children. 

Account Name Gross % AER % Minimum Maximum
Online Regular Saver Account

2.50%

0.01%

2.50%

0.01%

€1

€50,000.01

€50,000

unlimited

Children Safari Saver Account

1.00%

0.01%

1.00%

0.01%

€1

€20,000

€19.999

unlimited

Demand Deposit Account

0.01%

0.01%

No Minimum

n/a

Online Instant Access Account
0.01%
0.01%
No Minimum
n/a

Note: These rates are effective from the start of business on 30th January 2024 as per PTSB website

Online Regular Saver Account: This online savings account is perfect for the convenience of banking online and saving regularly. Save as little as €1 a month or as much as €1,000 a month. Earn 2.50% Gross / AER (variable) interest rate on balances up to and including €50,000. Earn 0.01% Gross / AER (variable) interest rate on the entire balance (including interest) if your balance exceeds €50,000.01

Children’s Safari Saver Account: This account makes it easy for children to save for themselves. Earn 1.00% Gross/AER (variable) interest on balances up to €19,999.99. Earn 0.01% Gross/AER (variable) interest on the entire balance if your balance is €20,000 or more.

Demand Deposit Account: In this type of your account, you’re free to withdraw from your savings account whenever you like. A maximum of two demand deposit accounts can be opened either singly or jointly with another or others if you are a personal customer. Non-personal customers are limited to one demand deposit account per business/customer and the maximum balance allowed is €2,000,000. With a demand deposit Account from PTSB, you can lodge monthly payments, lump sums, or both. Plus you can use internet and telephone banking to make transfers into and out of your current account.

PTSB Online Instant Access Account: This is great if you need to withdraw from your savings regularly during the month. This online savings account is perfect if you don’t want to save regularly every month but want to be free to transfer at any particular time. Save as little or as much as you want, as often as you like and Instant access to your savings online 24/7.

How PTSB Savings Account Compares to Other Banks

While PTSB savings account rates is low, but it pays the rate up to €50,000 however it is possible to find higher rates elsewhere. AIB Bank for example, offers a higher APY of 3.00% and charges no monthly fees but the maximum threshold for the rate to apply is lower than PTSB rates.

Before deciding on where to put your savings, compare the best savings account rates. With a higher rate, you can set yourself up to achieve your financial goals a bit faster.

Other Savings Options in PTSB

If you are looking for other options to put your savings to work, PTSB deposits offer a range of deposit terms from six months to five years.

Lynda Unogu

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. 

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