🏦 Savings and deposit interest
Cash in a deposit or savings account earning interest. Low risk; returns are modest and taxed.
Modelled monthly, once steady
€10 – €20
Capital
from €1,000 (typical €10,000)
Your time
2h to set up, ~0h a month
Time to income
first ~1 mo · steady ~1 mo
The assumptions behind that range
- An assumed interest rate of 1–3% a year — check current rates, they change.
- After 33% DIRT.
- Inflation can make the real return negative.
A model, not a promise. Your result can be lower, including zero or a loss.
First three steps
- Keep an emergency fund first
- Compare current rates
- Check the account is covered by a deposit guarantee
Before you start
- Irish deposits up to €100,000 per person per institution are covered by the Deposit Guarantee Scheme.
Risks
- Inflation erodes value.
- Rates change.
Irish tax
Deposit interest (DIRT) (2026). Interest on Irish deposit accounts has DIRT of 33% deducted at source. Interest from non-Irish accounts must be declared yourself. Source · reviewed 2026-09-25