Tax on instant access Savings
Tax deduction from instant access Savings
As required by Irish tax law, we’ll deduct Deposit Interest Retention Tax (DIRT) from any interest you’ve earned. We do this before it's credited to your instant access Savings account.
The deductable tax needs to reach €0.01 before we begin withholding this tax. In cases where it’s less than this amount, we’ll continue to accrue your interest until it reaches €0.01 (at which point it’s deducted from your next interest payment).
As a result, the tax rate applied to individual interest payment transactions may differ. To see the tax withheld on your aggregate interest payments, you can use your aggregate savings statements.
Read this article to learn how to calculate interest and tax on instant access Savings.
Personal tax responsibility
If you have any questions regarding your tax responsibilities, you should seek independent advice from a professionally qualified tax adviser.
How to get your Savings account statement
- Go to your instant access Savings account
- Tap 'More' (three dots under your balance)
- Tap 'Statement'
- Choose the time period you wish to generate a statement for
- Tap 'Generate'
The statement will include deposits, withdrawals, interest paid, and taxes withheld.
Tax exemption or refund
If you are over the age of 65 and your total income is below the annual exemption limit, please complete this declaration form to declare your exemption status.
If you are exempt for other reasons, wish to claim a refund, or have further questions on DIRT, please visit the Revenue website.