Top reasons to move your savings from a current account to a deposit account

Most of us are creatures of habit, especially when it comes to money. We open a current account, get paid into it, and leave our money sitting there. But here’s the thing: current accounts aren’t designed to grow your money. They’re built for spending, not saving. Here, we review a deposit account versus a current account for your savings and where you could get the best return.
If you’re serious about making your money work harder, it’s time to rethink where you keep it.

Why current accounts fall short for savings

Current Accounts are great for everyday banking, paying bills, tapping your card, and managing direct debits. But when it comes to earning interest, they’re not pulling their weight.
Here’s why:

• Low or zero interest: Most current accounts offer little to no return on your balance.
• No incentive to save: With instant access and no growth, your money just sits there.
• Missed opportunities: You could be earning more — without taking on risk.

In fact, close to 90% of Irish household savings¹ are held in on-demand savings and current accounts earning just 0.13% interest ². This represents a significantly low return on savings.

Benefits of a deposit account vs a current account

Deposit accounts are built for saving. They offer better interest rates on your savings, more structure, and options that suit different needs. Here’s what you get:

• Higher returns: Fixed-term and notice deposit accounts typically offer better rates than current accounts. All interest accrued is subject to DIRT ³.
• Saving with purpose: You choose how long to lock in your money and get rewarded for it.
• Security: Your funds are protected under the Deposit Guarantee Scheme (up to €100,000 per institution).

Want to explore your deposit account options and find the one that suits you best? Then find out how to make your savings grow.

Bankinter Deposit Plus-a smarter way to save

We’re here to help you get more from your savings.

Deposit Plus is designed for people who want flexibility and great returns. Here’s what makes it different:

• Access to 25% of your funds 8 weeks after opening: So, you’re not locked in completely. This must be done in 1 withdrawal only. ³
• Competitive interest rates: Because your savings deserve better. All interest accrued is subject to DIRT. ³
• Simple, transparent terms: No jargon, no hidden fees.
• Fully digital experience: Open and manage your account online, anytime.

Ready to make the move?

Wake up your money with the new Bankinter Deposit Plus , opening an account isn't just smart, its simple. If your savings are sitting idle in a current account, it’s time to wake them up and give them a better home with Bankinter, where they can start working for you and earning more.

With Bankinter, you can open your Deposit Plus account online, and start making your money work harder, apply online to open a Bankinter Deposit account now.