PTSB increases interest rates for savers

Rate increase comes just a week before Irish banks are set to report over €4.5bn in annual profit

The rate on its demand deposit product for business customers is to increase to 1%, with the bank also announcing a new 32-day notice deposit account for business customers with an interest rate of 2%. Picture Andres Poveda

PTSB has said it is raising some of its deposit rates and is launching a new notice account for business customers.

Taking effect from Tuesday, March 5th, the bank, which recently rebranded from Permanent TSB, is raising the rate on its six-month fixed term deposit account by 0.75 percentage points to 1.75%.