In this week's podcast, Paddy talks about why leaving your cash in a current or low-interest account is quietly costing you.
- Your savings could earn more Demand deposit accounts now offer around 2% and fixed-term options near 3%, so idle cash loses ground to inflation.
- Use the right tools The CCPC comparison tool helps Irish savers easily compare domestic and international deposit accounts.
- Rates vary widely Foreign platforms often offer better rates than Irish banks, but terms matter—don't just chase the headline numbers.
- Tax makes a difference DIRT takes 33% of your interest, so tax-free options like State Savings and some government bonds can be surprisingly competitive.
- Read the fine print Platforms like Raisin show strong rates, but the advertised "3%" often comes with conditions. Actual easy-access rates are closer to 2%.
What's realistic, what's competitive, and how to make your cash work harder for you.
Hope it helps.