Irish households saving €1 in every €8 with more than €171bn in deposits

CSO said the rise in household savings was due to a greater increase in household disposable income than in household final consumption.

Finance minister Simon Harris has outlined a plan to encourage more households to invest by putting money into a special savings scheme set to attract only a small flat rate of tax and avoid taxation on capital gains.

Irish households save €1 in every €8, with the seasonally adjusted saving rate in Ireland estimated to be 12.5%.

New figures by the Central Statistics Office (CSO) found that Ireland's saving rate in the first three months of this year was up from a revised 11.7% in the final quarter of 2025. 

It also found the rate was close to the average rate of 12.7% since the beginning of 2023.

After seasonal adjustment patterns, the CSO said Irish household disposable income rose by 2% more than household consumption, which rose by 1.1% from the final three months of 2025, leading to a higher savings rate.

"Savings can add to a household's overall wealth in the form of buying new homes, growing bank deposits, pension savings, and paying off debt," said CSO statistician Mark Manto.

"The rise in the seasonally adjusted household saving rate from the final quarter 2025 was due to a greater increase in household disposable income than in household final consumption."

Speaking on the latest figures, Noel Freeley, chief executive at Royal London Ireland, said: "Many Irish households continue to demonstrate a strong ability to save, which is good news. But saving and building long-term wealth are not the same thing, and bridging that gap remains one of the biggest financial challenges facing Irish households.

"At present, savers in Ireland hold €171.3bn in deposit accounts, earning next to nothing. Many households could be releasing billions in wealth by engaging more actively with investment markets. Downside risks exist, of course, but over the long term, equity markets have historically outperformed cash deposits.

Finance minister Simon Harris has outlined a plan to encourage more households to invest by putting money into a special savings scheme set to attract only a small flat rate of tax and avoid taxation on capital gains.

Addressing the new scheme, Sarah McGurrin, head of employee benefits at NFP Ireland said: "If the Savings and Investment Account is designed well, in that it is simple, accessible, and targeted at those who need it, rather than those who already have significant wealth, it could make a real difference for ordinary households. The devil will be in the detail."