AIB and EBS raise interest rates for savers to 3%

James Cox

AIB is the latest bank to raise its savings rates, with an increase to 3 per cent.

The banks have been criticised by politicians for only partly passing on European Central Bank (ECB) interest rate increases to customers.

Now AIB and EBS have confirmed they will increase deposit rates up to 3 per cent for regular savers and AIB Fixed Term accounts from the middle of this month.

AIB’s Online Saver offers a 3 per cent return from €10 to €1,000 per month for 12 months. Customers can open a maximum of four accounts for different savings needs, allowing them to earn a rate of 3 per cent on amounts up to €48,000 a year. A rate of 0.25 per cent applies after the monthly threshold of up to €1,000 is reached on each account.

AIB’s fixed rate changes will be available from September 12th, with all other rate changes available from September 19th.

Earlier this week Permanent TSB announced a host of increases in deposit rates.