Earn fixed interest on your lump sum and access your money at the end of the term.
At certain times in your life, you may have a lump sum of money to put away. It could be from an inheritance, a retirement fund or even from savings built up over the years. If you can manage to put your money away for a fixed term, then you can benefit from the security of a fixed rate of interest. With an AIB Personal Fixed Term Deposit Account, you can lodge money for a fixed term and withdraw it at the end of the term. We will calculate interest on the daily balance in the account at the rate applied on the day you open your account.
Personal Fixed Term Deposit Account
Features and Benefits
- 1 year term available.
- You can open a Personal Fixed Term Deposit account in your own name at any AIB Branch and on the AIB Mobile App.
- You can open an account shared with someone else by visiting any AIB Branch.
- To open a Personal Fixed Term Deposit account with us, you need to:
- be a personal customer
- have an AIB payment account
- have a minimum lump sum
investment amount of €15,000
- You can only put money in
once within seven calendar days of opening the account, otherwise it will
- be a personal customer
- You can put money into your
account electronically from other AIB accounts or from other financial
- You can hold a maximum of
four Personal Fixed Term Deposit accounts in your own name or shared with
- Your account has a fixed
term. This means that you cannot take out your money until the end of the term.
- Get a fixed rate of interest for the duration of the fixed term. We calculate interest each day on
the account balance and pay it into your account at the end of the term.
- You can manage your account
in branch and online.
- You can let us know what
you’d like to do with your money at maturity (when the term ends) when you open
an account, or at any time during the term up to the business day before
maturity. You can choose one of the following instructions:
- Reinvest the full amount
and the interest earned, or
- Take out some of the money
and reinvest the rest, or
- Take out all the money and
close the account
- Reinvest the full amount and the interest earned, or
- If you want to reinvest
your money at the end of the term for longer, you can put in at least €1,000 in
the five business days before the term ends.
- If you don’t ask us to do
anything when the term ends, your money will be automatically reinvested in
your account on maturity which may be the same investment term or shorter
investment term at the prevailing fixed rate on the day the term ends.
- At the end of the term you
can choose to have your money automatically transferred to any AIB payment
account that you are named on.
- 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".
Help and Guidance
View the AIB Personal Fixed Term Deposit Account Important Information
Terms and Conditions
View the AIB Personal Fixed Term Deposit Account Terms and Conditions
Find out more about our Deposit Account Rates
The Revenue Commissioners is the primary state body responsible for the assessment and collection of taxes and duties
Frequently Asked Questions
View our Personal Fixed Term Deposit Accounts Frequently Asked Questions
For all service related queries please visit our Help Centre.
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.
- Personal Identification Requirements
You can ask us to end the agreement within 14 days of opening the account or on reinvestment at the end of the term. We will not charge you to close the account, however, we will not pay you interest for the time you were invested
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).