Permanent TSB increases interest rates for savers up to 3%

The move follows an announcement from Bank of Ireland earlier this week, putting further pressure on AIB to update the rate offered to savers

Following nine consecutive rate hikes from the ECB - bringing its deposit rate to 3.75% as of August 2023 - Irish banks have been slow to pass these rates on customers. Photo: Sasko Lazarov/RollingNews.ie

Permanent TSB is the latest bank to increase saving and deposit rates for customers following Bank of Ireland's move earlier this week, announcing new rates of up to 3% for savers.

Coming into effect from the 26th of September, Permanent TSB has raised its rate on a 3-year fixed-term deposit from 2% to 3%, the highest rate offered across this fixed-term period.