Student Saver

• If you are a Student Saver between the ages of 12 – 17 inclusive, you can open a Student Saver Account.
  

• If you are under 16 years old, 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 Student 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 19, your account will automatically change to a suitable demand deposit account. We will give two months notice before this change is made

• No maintenance or transaction fees apply but there may be other service charges. For details see "A Guide to Fees and Charges for Personal 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 interest paid may be reported to the Revenue Commissioners, in accordance with the requirements of S.891B of the Taxes Consolidation Act 1997.

Where interest is paid to an individual resident in an EU Member state (other than Republic of Ireland) or certain department territories, that interest will be reported to the Revenue Commissioners in accordance with the European Union Council Directive 2003/48/EC (EU Savings Directive).