IF YOU’VE GOT your savings in a typical savings account, you’ve probably wondered why you’re making so little in terms of returns and interest. 

Raisin is a digital savings platform that is offering Irish savers the opportunity to finally make a fair return on their hard-earned savings by accessing higher interest rates. Not only that, but Raisin has a starter account specifically for customers who are trying the digital savings platform for the first time.

The Raisin Starter Account is an account available exclusively to new Raisin customers in Ireland. A low-commitment option for savers who haven’t opened an account with Raisin yet, the account offers several very attractive features to those looking to see a higher return. 

The short-term AER (annual equivalent rate) for three months of saving with the Raisin Starter Account is 3.10% — meaning that if you were to deposit €10,000 in your starter account for three months, by the end of that period you’d have an additional €310 to play with. 

There is no need to worry about losing control of your money, and you are free to withdraw your cash at any time. You can also top up the amount that you’ve deposited at any stage during the three-month period. 

You’re in complete control, and you can close your Raisin Starter Account at any time during the 3-month term. There are no penalties or fees for doing so.

You’ll earn interest on your balance up to the day the account is closed, and your balance, including any interest earned, will be sent back to your Raisin Account.

At the end of the three months, you can choose to have your savings automatically transferred into another savings account available on our platform, so your money continues to work for you without interruption. Alternatively, you can withdraw your funds to the nominated bank account associated with your Raisin profile.

Crucially, setting up your starter account is completely free, and you don’t need to lodge any more than €1 to get started. The upper limit on starter account deposits is €100,000. Deposits are protected up to €100,000 per depositor, per bank, under the German statutory Deposit Guarantee Scheme.

To learn more about how you can make more money on your savings, visit raisin.com today.

DIRT is not deducted automatically; any interest earned should be declared to Revenue in an annual tax return.

Raisin is a fully licensed German bank, supervised by the Federal Financial Supervisory Authority (BaFin) and the European Central Bank (ECB). Raisin holds a full banking license under the German Banking Act (Kreditwesengesetz) under registration number 100112 and is supervised by the German Federal Supervisory Authority.