Bank of Ireland Current Account Interest

Kara

Registered User
Messages
100
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..)
 
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.
 
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