Bank of Ireland to offer 3% savings rate

Follows a move by Revolut to offer increased savings rates to customers

Irish households have more than €150bn on deposit with Irish banks, with the majority of the money in accounts that pay almost nothing in interest. 

Bank of Ireland has announced two new savings products, offering rates of 3%.

The move comes just days after digital bank Revolut announced a savings account offering up to 3.49% for top subscribers.