Junior Saver
Super money powers for little superheros.
Making saving fun (and easy-peasy).
A regular savings habit is one of the best starts in life you can have. It’s one of the first big steps towards helping you to make important decisions and plan for your future. Little by little, you can watch your money grow! At AIB, we have designed a demand deposit account especially for our younger savers.
Junior Saver Account
Features and Benefits
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Key Benefits
If you are a Junior Saver between the ages of 7 – 11 inclusive, you can open a Junior Saver Account. We will need to make sure that your Parent/Guardian is happy for you to start saving with us.
This Account is only available as a sole account in your name.
You can only open one Junior Saver Account.
You can save as little or as much as you like, there is no minimum or maximum limit.
You can save an amount that suits you monthly or just top up your balance as you choose.
You have the flexibility to withdraw any amount, any time.
To reward your savings, we will give you a great interest rate on balances up to €1,000. All amounts above €1,000 will earn a lesser rate of interest.
Interest is variable, calculated daily and paid into your Account in April and October.
When you reach the age of 12, the name of your Account will change from ‘Junior Saver’ to ‘Student Saver’. All other features of your Account will stay the same.
When you reach the age of 19, your Account will automatically change to a suitable demand deposit account. We will give two months' notice before this change is made
We don't charge maintenance or transaction fees but there may be other service charges. For details see "A Guide to Fees and Charges for Personal Accounts".
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What your parent/ guardian needs to know
For your child to open this Account, the child’s birth certificate or the applicable court order (or other relevant documentary evidence) must be produced as proof of parenthood/guardianship. This is in addition to proof of identity.
Before opening a bank account with AIB Bank we also need suitable documentation to verify your identity and that of your child and proof of your residential address. See details here Personal Identification Requirements
Help and Guidance
Terms and Conditions
View the Junior/Student Saver Terms and Conditions
Deposit Rates
Find out more about our Deposit Account Rates
Revenue.ie
The Revenue Commissioners is the primary state body responsible for the assessment and collection of taxes and duties
Central Bank of Ireland
Learn more about the Financial Regulator
Help Centre
For all service related queries please visit our Help Centre
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Tax on Interest earned on Deposit 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 you may be subject to PRSI. Deposit Interest is not liable to the Universal Social Charge
- The Bank will deduct DIRT from the accounts of customers unless a fully completed non-resident declaration form is held by the Bank and a minimum balance of €12,500 is maintained at all times in each account maintained by the customer. Where these conditions are maintained, we will apply this DIRT exemption to all accounts you hold with us
- If you or your spouse are aged 65 or over in the current tax year, or permanently incapacitated, and you are exempt from income tax, you may apply to have all interest on the account paid without deduction of DIRT. Each personal account you hold with us requires a separate application
- Details of your account may be reported to the Revenue Commissioners, in accordance with various legislative requirements covering the United States Foreign Account Tax Compliance Act (FATCA), the Organisation for Economic Co-operation and Development (OECD) Common Reporting Standard (CRS) and domestic banking payments regulations.
Other Information
AER is annual equivalent rate. Rates quoted are variable. Interest is subject to Deposit Interest Retention Tax (DIRT), at the prevailing rate where applicable (for more information please visit: www.revenue.ie).
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