Savers increasingly moving money into term deposits 

This is the seventh straight month of decline in overnight deposits

In the year to the end of July, Irish consumers have moved €7.9bn into savings vehicles with an agreed maturity of up to two years. 

Irish consumers are moving their money into term-savings accounts in record volumes as the amount being kept in overnight deposits falls again, new data from the Central Bank of Ireland shows.

According to the data, in the year to the end of July, Irish consumers have moved €7.9bn into savings vehicles with an agreed maturity of up to two years — marking a record-high since the first positive annual flow was recorded in June last year.