Bank of Ireland raises rates on fixed-term savings range

Bank of Ireland said it is increasing interest rates across a range of its fixed-term savings accounts from today.

The bank said that interest rates on its six, 12 and 18-month Advantage Fixed Term Deposits will go up by between 0.25% and 0.5%.

Bank of Ireland said that customers can also access up to 25% of their deposited funds during the term, providing flexibility should they need access to some of their savings. This applies across the 6, 12 and 18-month Advantage Fixed Term Deposit accounts.

It added that existing fixed-term deposit customers will continue to earn interest at their existing rate until the end of their current term.

Carol Meehan, Director of Everyday Banking at Bank of Ireland, said that customers are looking for a combination of certainty, return and flexibility when it comes to their savings.

“These increases strengthen the returns available across our fixed-term savings range, while giving customers a choice of 6, 12 and 18-month terms and the option of accessing up to 25% of their money during the term,” she added.