Farmer-focused deposit account to allow greater access to savings

BANK of Ireland has launched a new farmer-focused deposit account which would allow them access to their savings once every three months.

The idea behind the Four Seasons savings plan is for farmers to build gradually towards leaving their money in for 12 months.

In the early seasons, they will be paid a lower rate, gradually rising to a reasonably competitive 4% per annum interest rate. Most of the bank’s competitors offer a higher rate on savings, but with less access.