Bank of Ireland raises interest rates for savers up to 3%

The move puts Bank of Ireland as a market leader among deposit holders, putting additional pressure on AIB and Permanent TSB to increase their own offerings for savers 

Ireland pillar banks have come under criticism in recent months for failing to pass on the ECB's interest rate hikes onto consumers

Bank of Ireland has announced new deposit rates for customers, offering a "market-leading" rate of 3% on certain products. 

The bank is the first to respond to increased pressure from the Government to increase deposit rates following nine consecutive interest rate hikes from the European Central Bank.