Looking to open a savings account? This bank is lowering its rates

Looking to open a savings account? This bank is lowering its rates

If you’re at that time in your life when you’re ready to put a bit of money aside into a savings account (lucky you), then listen up.

KBC Bank Ireland has just announced that it is reducing interest rates on a number of its savings accounts.

For customers who have a personal account, there are three different savings accounts that will be affected.

According to The Irish Times, The Regular Saver Account, which is for customers saving between €100 – €1,000 per month will see AER (Annual Equivalent Rate) drop from 1 per cent to 0.5 per cent.

The Smart Access Demand Account, which is for people looking to save between €3,000 to €100,000, will drop its AER from 0.45 per cent to 0.30 per cent.

And the Select Access Demand Account, which is for customers with up to €1,000,000 savings, will see AER drop from 0.15 per cent to 0.10 per cent.

It always goes without saying that you should shop around to find the best deal for you, but if you want to check out more on KBC’s lower rates, visit here.

And if you’re not sure what to do next, you will find this guide to back accounts  a good starting place.