The increasingly popular savings platform is offering bonus interest to new customers who sign up through bonkers.ie for a limited time.
At the moment Irish households have over €150 BILLION resting on deposit with Irish banks. A record high. But the majority of the money is still in accounts that pay little to no interest. This is despite the fact that savings rates have improved dramatically over the past 18 months.
Whether it’s due to apathy, laziness, or a lack of knowledge about the better rates on offer, it seems Irish people are unwilling to move their money into higher-yielding savings accounts. Much to the delight of the Irish banks which are saving big money on interest!
If you’re one of the many people who have yet to put their savings to good use, then perhaps this new offer from Raisin will be enough to encourage you to do something with your hard-earned money.
But you'll have to be quick. It's a time-limited offer and with the European Central Bank having cut interest rates twice over the past few months, the good rates currently available to savers may not be around for much longer.
But first a reminder...
Who is Raisin?
Raisin is an online marketplace for savings products across Europe that is based in Germany.
Through its online platform, it allows Irish savers to easily access savings products from banks elsewhere in Europe where rates are generally better than those on offer here.
For example, Raisin is currently offering fixed rates of up to 3.60% from some of its partner banks whereas the best fixed rate on offer from PTSB is now just 2.75%.
All Raisin’s partner banks are covered by the deposit guarantee scheme and best of all the service is free to consumers, meaning there are no hidden fees or charges for accessing the service.
You can learn more about Raisin in our podcast here.
What's on offer?
As well as offering better interest rates, for a limited time Raisin is also offering €75 bonus interest to new customers who sign up through bonkers.ie.
To get the bonus interest you must deposit at least €20,000.
How to qualify for the bonus
As with any offer there are a few terms and conditions that you need to meet.
- The offer is only available to NEW customers who sign up to a Raisin account before 14th October 2024. So if you’re an existing customer of Raisin, this offer doesn’t apply unfortunately - even if you deposit more money into your account.
- You must use the promotional code BONKERS75 when registering for your new Raisin account. Just enter the text in the 'promotional code' box when signing up.
- Once you’ve signed up to Raisin you must open a savings account and deposit a minimum of €20,000 before 28th October 2024.
- You must choose a term deposit account with a term of at least six months. If you choose a demand deposit account you must keep it funded for at least six months.
See here for more info on the terms and conditions as well as to sign up.
Other options
There are of course other options for your savings.
Trade Republic, a German digital investment platform, is offering customers in Ireland 3.50% interest on any uninvested cash on amounts up to €50,000. And AIB has a two-year fixed rate offering just over 3% a year for those with at least €15,000 to deposit.
Finally Bunq, the Dutch online-only bank, offers customers an instant-access rate of 2.46%.
In short, there are lots of options out there. So don't leave your money lying around in an account where it's earning almost nothing.
Head to our savings comparison page today to compare rates from all the main providers in just minutes and start getting a better return on your money.
