Bank of Ireland Current Account Interest

[Kara]

I have a normal Bank of Ireland Current Account with a fair amount of money in it which I'm using to save for a house; hence the reason it's not in a high interest account or anything.
Do you not get any interest on current accounts at all? Or just a much smaller amount than a savings account?

(yes, I would ask my bank but they'd use funny banking terms and end up convincing me to invest in llamas or something..)

 

[AgathaC]

To the best of my knowledge BOI do not pay interest on current accounts. Have a look on the deposits 'best buys' thread here on AAM, I have learned an awful lot from it-including the jargon! Seriously, it is very useful and enables you to pick what suits you best. You should be able to find a savings account suitable to your needs so that you are getting a return on your money rather than just keeping it in a current account. Best of luck.

 

[Guest128]

BOI do pay interest on current accounts(but you need to ask for it for some reason). They only pay interest on amounts up to €1500, so even if you have €100,000 in it you'll only get interest on the €1500:
[broken link removed]

If you are saving then why are you doing it in a current account? Move it to a savings account - there are loads detailed in the best buys section: http://www.askaboutmoney.com/showthread.php?t=102329

e.g. This would be a good one if you rarely withdraw:

Best for amounts from €25,000 to €500,000
[broken link removed] (Discuss)
3.00% on €10,000.
3.50% on €25,000 to €500,000 maximum.
Note 1: Rate includes bonus interest.
Note 2: 1 free withdrawal per quarter.
Note 3: Subsequent withdrawals reduce interest rate by up to 1.25%.
Note 4: Interest paid quarterly.

Hope this helps