Raisin Bank
3.10%AER
Demand deposit accounts
- Rates up to 3.10% AER variable (10/2025)
- Top up and withdraw whenever you like
- Start saving from as little as €1, with no minimum term
- No fee, no subscriptions
An offer from Raisin Bank AG trading as Raisin.
Home > Savings accounts > Demand deposit accounts
"Best Savings Provider" 2025
Member of the CCMA
Featured in the CCPC Money Tools
Featured in the Irish Independent
Benefit from instant access to your savings
A demand deposit account offers flexible access and competitive rates of interest for savers in Ireland. You can top up and withdraw your money at your convenience, with no fixed term. With Raisin, these savings accounts are deposit-protected up to €100,000 per person, per bank by the national deposit guarantee scheme of the country where the bank is headquartered.. You can get started by depositing just €1.
Key takeaways
With a demand deposit account, you can easily save or withdraw your money when you need to.
Whether you prefer saving as you go or depositing a larger amount to earn interest, this account can suit regular monthly savings and lump sums
Demand deposit accounts at Raisin typically have competitive, variable interest rates
The information provided here is for informational and educational purposes only and does not constitute financial advice. Please consult with a licensed financial adviser or professional before making any financial decisions. Your financial situation is unique, and the information provided may not be suitable for your specific circumstances. We are not liable for any financial decisions or actions you take based on this information.
Demand deposit accounts update: what’s new?
Updated: 03.11.2025
In October, the European Central Bank (ECB) kept interest rates unchanged, holding its key deposit rate at 2%. This change can influence the interest rates banks offer on accounts where you can withdraw and top up your money at any time.
If you want to grow your savings while keeping access to your savings, a demand deposit offers a balance of growth potential and flexibility. Our top demand deposit account currently pays 3.10% AER.
Register today to access demand deposit accounts from our partner banks.
Register now
How to open a demand deposit account with Raisin
Register for free and verify your identity
Apply to open your demand deposit account quickly and easily using the VideoIdent process. Once your identity is confirmed, you’ll have access to all our savings accounts.
Choose an offer
Select the right offer for you from our demand deposit accounts, and apply to open
Transfer your funds
Transfer your chosen amount to your demand deposit account. Our secure online banking platform gives you full visibility.
Key features of a demand deposit account
- Instant access to your money with no fixed terms; withdraw or deposit money whenever you need to
- Open an account with just €1
- No fees
- Quarterly or monthly compounding
- Earn a variable interest rate, meaning the rate could go up or down while the account is open
- Suitable for regular deposits or lump sums (up to the maximum deposit limits)
- Manage your account online or via the mobile app
- National deposit guarantee schemes (DGS) protect up to €100,000 per person, per bank
Top demand deposit account at Raisin
3.10% AER | Any time | Legally protected up to €100,000 per person, per bank, depending on the bank's country of origin | From €1 (requirements vary per bank) |
Raisin Starter Account
Put your cash to work with a secure, high-yield savings account. Open in minutes, deposit from €1, and earn a fixed 3.10% AER over 3 months. Enjoy full flexibility to add or withdraw funds at any time, with no fees. At the end of the term, you can seamlessly move your balance to another competitive offer through Raisin. All deposits are protected up to €100,000 per person, per bank under the German Deposit Guarantee Scheme.
Who can open a demand deposit account with Raisin?
To open a demand deposit account with Raisin, you’ll need to:
Be at least 18 years of age
Have a valid form of ID and proof of address
- The interest you earn on your savings may be subject to Deposit Interest Retention Tax (DIRT), and it may be necessary to file a tax return.
How do you calculate interest on a demand deposit account?
Interest on demand deposit accounts can be paid annually, quarterly, or monthly. Depending on the account you choose, you might also be asked to nominate another bank account for the interest to be paid into.
With Raisin, interest on demand deposit accounts typically compounds quarterly. As an example, let's say you open a demand deposit account with €5,000, and it pays 2.00 % AER. Assuming you pay the money into your account on the first day of the month, make a monthly contribution of €50, and the interest rate doesn’t change, this is what you could earn:
€5,000 | €50 | €112 | €5,712 |
This example, using compounding rates, is purely illustrative and should not be viewed as indicative of the returns of any specific financial product or as financial advice. Please read individual product terms for the details of how interest is calculated and paid.
Featured savings accounts
.png&w=128&q=75)
Is a demand deposit account right for me?
This depends on your financial circumstances, goals, and the terms of the account. Here are some factors you may wish to consider:
Highest available interest rate
Easy access to your money
Perks and benefits, such as special offers
With Raisin, you can easily diversify — combining flexible demand deposit accounts with fixed term offers from multiple partner banks, all managed through one secure platform. This lets you balance accessibility and long-term planning in a single place.
Our handy comparison table lets you compare the different demand deposit accounts available at Raisin, and see how much interest you could earn.
Do I have to pay tax on interest from my demand deposit account?
Yes, you may have to pay tax, as the interest you earn on your savings is subject to Deposit Interest Retention Tax (DIRT). In 2025, DIRT is charged at 33%. Certain groups of people may qualify for an exemption from DIRT.
For Raisin demand deposit accounts, you’ll need to declare your own Deposit Interest Retention Tax (DIRT), as our partner banks are based outside Ireland. Find out more in our guide to DIRT in Ireland.
Deposit Interest Retention Tax does not apply to interest on demand deposit accounts that are owned by people not resident for tax purposes in Ireland.
Why choose a Raisin demand deposit account?
Raisin gives you access to savings accounts from banks across Europe, so you can take advantage of competitive interest rates while having the flexibility to withdraw funds as needed.
You can also combine demand deposit and fixed term accounts to suit your savings strategy, all under one Raisin Account.
Your deposits are protected up to €100,000 per person and bank under the national deposit guarantee scheme of the country where the bank is headquartered.
If you have any questions, our dedicated team is here to help. Call us on +353 1 5461020, Monday to Friday 11am–3pm, or send us an email to contact@raisin.com. You can also browse our help centre for FAQs.
Open a demand deposit account
FAQs about demand deposit accounts
What is a demand deposit account?
A demand deposit account, also known as an instant or easy access savings account, lets you earn interest on your savings while keeping the flexibility to withdraw funds whenever you need to. Suitable for both lump sum amounts and regular monthly savings, you can save as little or as much as you like.
A demand deposit account usually has no minimum term and may also be offered as a joint savings account (however, note that it isn’t possible to open a joint demand deposit account with Raisin).
How much money do I need to open a demand deposit account?
Most demand deposit savings accounts can be opened with a small initial deposit. At Raisin, you can start saving from just €1, though a larger deposit may help you earn more interest over time.
Is my money protected in a demand deposit account?
In Ireland, the Deposit Guarantee Scheme protects savers’ money in the event that a bank, building society, or credit union authorised by the Central Bank of Ireland collapses. Deposits up to €100,000 per person, per financial institution are protected under the scheme, and your money is usually paid to you within 15 working days of your institution failing.
If you have a demand deposit account with a Raisin partner bank outside of Ireland, your money is protected by the deposit guarantee scheme in the bank’s country, in line with EU Directive 2014/49/EU.
Which is the best demand deposit account for me?
There’s no single “best” account — it depends on your goals and preferences.
Some savers focus on interest rates, others on ease of access or online features.
You might want to consider the following questions:
Does this account suit my savings style?
Will this account and interest rate help me reach my savings goals?
Can I access my funds easily when I need them?
What is the difference between a savings account and a demand deposit account?
A demand deposit account is a type of savings account. They typically earn a variable interest rate and have no limits on cash access.
Other types of savings accounts, such as fixed term deposit accounts, require you to lock your money away for a set period (e.g., two or three years). The interest rate is fixed, so you know exactly how much money you will earn at the end of your term, but you can't access your money before then.
Should I choose a demand deposit or fixed term deposit?
Both are savings accounts that let you save and earn interest on your cash, but they differ in several ways:
Demand deposit account | Fixed term deposit | |
|---|---|---|
Access to savings | Withdraw anytime | Locked for the duration of the account term |
Interest rate | Variable – may rise or fall depending on ECB rates, among other factors | Fixed – interest rate known at opening, paid at maturity |
Minimum deposit | As little as €1 at Raisin | Often higher (hundreds or more) |
Flexibility | Add or withdraw funds anytime | No top-ups or withdrawals allowed |
Deposit protection | Up to a maximum of €100,000, per person, per bank | Up to a maximum of €100,000, per person, per ban |
You don’t have to choose between the account types, though. Opening both allows you to keep part of your funds accessible in a demand deposit while fixing another portion for longer-term interest.
If you’re undecided, compare all savings accounts today.