What is a deposit account and why Bankinter Deposit Plus might be right for you

In Ireland, people are still parking their savings in accounts that earn little to no interest. That’s where Bankinter Deposit Plus comes in offering a more rewarding way to save. We’re new to Ireland, and we’re here to wake your savings up.
So, firstly what is a deposit account? A deposit account is a safe place to put your money while it earns interest. Think of it as your savings working quietly in the background. Unlike your everyday current account, a deposit account is designed to grow your money - not just hold it.

There are a few types:

• Fixed-term deposit accounts: You lock in your money for a set time and get a guaranteed interest rate at the end of the period.
• Notice deposit accounts: You give notice before withdrawing. These usually pay more than instant access accounts but less than fixed-term deposits. 
  
• Instant access savings: You can dip in anytime, but the interest rate is usually lower than notice or fixed-term deposit accounts. 
• Demand deposit accounts: These are also known as instant access accounts where you can access your savings immediately. The interest rate is typically lower than fixed term deposit accounts and notice accounts.

Here are some facts: 90% of Irish household savings¹ are in on-demand accounts earning just 0.13% interest ². That’s less than ideal and we think you deserve better.

Here’s how Bankinter’s Deposit Plus is changing the game:

We’re here to offer real value. Deposit Plus is built for people who want more from their savings - great rates and more flexibility.

Here’s what makes Bankinter’s Deposit Plus account stand out:

• Competitive interest rates, because your money should work as hard as you do.
• Simple, transparent terms - no jargon, no hidden fees.
• Deposit any amount from €2,000 to €2 million.
• Access to 25% of your funds after the initial 8 weeks - giving you flexibility without compromising your savings goals.
• Digital-first experience with full control from our mobile app. Trustworthy and secure - backed by one of Europe’s most respected banks. The Deposit Guarantee Scheme (DGS) protects customer deposits to a maximum value of €100,000 per customer.

How to open a Deposit Account with Bankinter

Opening a Deposit Plus account is refreshingly simple. Here’s how:

1. Visit our website. Everything you need is right there - clear, honest, and easy to understand.

2. Pick your deposit type: Choose the term and rate that works best for you.

3. Apply online: Fill out a form online, verify your identity, and you’re good to go.

4. Start saving: Transfer your funds and watch your savings grow.

5. Stay in control: Manage everything from your phone or laptop - no queues, no paperwork.