BOI SuperSaver a/c - is 3% really 1% in reality?

I was thinking of opening a BOI SuperSaver account but my brother said expect around 1% interest than 3%. His account just matured and I know there is Dirt tax applied but after saving €24,000 he got around €250. He showed me on his phone the balance after interest added as I said that can't be right if 3% interest. He is about to apply for a mortgage so went flat out saving for the last year but it seems to me he got short changed. Am I wrong thinking this? Any other savings account anyone would recommend? Thanks.

BoI Super saver pays 3.00% gross.

33% is automatically deducted at source for tax (DIRT).

Interest is accrued daily based on the balance on that day. 24k was the maturity amount but not the balance during the year which would have gradually built up to 24k.

250 EUR net sounds about right.

If you want 3%+ without the regular saver hassle/process, and without fees, instant access options include Trade Republic, Trading212 and Lightyear. See best buys for more.

A regular saver account with € 24,000 as a final balance, would have had an average balance over the 12 months of € 12,000

So € 12,000 x 3% = € 360
DIRT at 33% = € 120
Net = € 240

Thanks Lightning and jpd for your input as I now understand how interest is calculated per annum.