Billions Lost: Irish Savers Miss Out on Higher Returns Through European Banks

Irish people are keeping billions of euros in low-interest demand deposit accounts through Irish banks. This means they're losing out on interest that can be easily accessed through European bank accounts.

Raisin offers a different way to save, with interest rates that yield higher returns. According to Raisin, Irish people as a whole are keeping billions of euros in accounts that yield almost no interest.

The average demand deposit saver has lost over 21% of their purchasing power over the past 10 years due to inflation.

Raisin gives users access to multiple European banks with better AER (annual equivalent rates), allowing them to unlock much greater returns. The average interest rate offered on new term deposits is currently 1.85%, while everyday demand deposits have remained virtually flat with a yield of just 0.14%.