AIB Regular Saver Account

If you would like to save between EUR10 and EUR500 per month and earn a promotional interest rate whereby the AER* will at least match ECB +2.50% for 12 months from the date the account was opened, then the AIB Regular Saver Account is worth checking out. This promotional offer applies to new Regular Saver Accounts opened from 14th April 2009. As well as this great rate of interest, you can access your savings at any time - without penalty.

How the AIB Regular Saver works:

• With the AIB Regular Saver Account, you can choose to save any amount from EUR10 to EUR500 in one lodgement every month.
• You also have the flexibility to withdraw your money from this account at any time you like. There is no limit to the amount you can withdraw or no penalties for doing so. Your savings can be easily accessed through your AIB branch or AIB Phone & Internet Banking.
• To open an AIB Regular Saver Account, you must have a suitable AIB payment account, such as a Demand Deposit Account.
• You will receive a variable rate of interest, which is calculated daily and paid into your account twice annually in April and October.
• You will receive a statement on this account after the first transaction, and annually thereafter.
• No fees or charges apply to the AIB Regular Saver Account.
• Customers are permitted to hold a total of two accounts in their sole name (or four joint accounts) regardless of when the accounts were opened. Customers cannot hold a combination of sole and joint accounts.
• Accounts opened from 14th April 2009 will earn a promotional interest rate whereby the AER will at least match ECB+2.50% for 12 months from the date the account was opened. At the end of the 12 months the account will automatically change to earn the Bank’s standard variable rate applicable to the product at that time.

Customer Benefits:

• The AIB Regular Saver Account is a straightforward and flexible account for regular monthly savings - with no hidden restrictions.
• Accounts opened from 14th April 2009 will earn a promotional interest rate whereby the AER will at least match ECB + 2.50% for 12 months from the date the account was opened. At the end of the 12 months the account will automatically change to earn the Bank’s standard variable rate applicable to the product at that time.
• You will receive a variable rate of interest, which is calculated daily and paid into your account twice annually in April and October.
• You have instant access to your savings - you can withdraw any amount (no minimum, no maximum) from your account via AIB Phone & Internet Banking or your AIB branch.
• You may take a payment holiday (i.e. cease your payments into your Regular Saver Account) at any time, without penalty.
• You can change your payment amount up to a maximum of EUR 500 at any time, without penalty.

How to open an AIB Regular Saver Account:

1. Call our dedicated savings team on 1890 724 724 from Monday to Friday 8.00 - 21.00 hours and Saturday 9.00 - 18.00 hours.
2. Print an application form from our 'Next Steps' section above, fill in your details and post it to your branch. Before you print the application form please ensure you read AIB's Terms of Business.
3. Call into your local AIB branch to open an AIB Regular Saver Account.

Please note: You must have an existing AIB account to nominate as your payment account. If you are not an existing AIB customer, and do not have an existing AIB Current, Cashsave or a Demand Deposit account, you will need to visit your local AIB branch. In order to comply with legislation to combat money laundering and terrorism financing, we will need to see suitable documentation to verify your identity and your current permanent address,  so that we can open a payment account as well as an AIB Regular Saver Account for you.

Tax on Interest earned on Regular Saver Accounts

We will deduct Deposit Interest Retention Tax (DIRT) at the prevailing rate from all interest earned, unless you are entitled to exemption from DIRT, and we will pay this directly to the Revenue Commissioners.

To the extent that DIRT has been deducted there is no further liability to Irish income tax, but individuals may be subject to PRSI.

The Bank will deduct DIRT from the accounts of non-residents unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of EUR12,500 is maintained at all times in each account maintained by the non-resident.

If you or your spouse are aged 65 or over in the current tax year, or are permanently incapacitated, and you are exempt from income tax, you may apply to have the interest on the account paid without deduction of DIRT.

Important / Regulatory Notice

*A.E.R is the annual equivalent rate.  Rate quoted is variable. Interest is subject to D.I.R.T at the prevailing rate (for more information go to www.revenue.ie). Terms and Conditions apply.

Please view Regular Savings Account Terms and Conditions below in our Related Information section.

• Terms and Conditions for AIB Regular Saver Account
• AIB Terms of Business
• Financial Regulator
• www.revenue.ie

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