Average savings in Ireland (2026)

Understanding how much other people save in Ireland can help you understand where your savings habits stand. So if you’re wondering, “What is the average savings amount in Ireland?” you’re in the right place. On this page, we’ll explore what average cash savings look like in Ireland, and explore how you can save in a way that works for you.

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.

The Central Statistics Office (CSO) in Ireland reported that in the second quarter of 2025, the household savings rate in Ireland was 12.5%. This means that, on average, households saved €12.50 for every €100 of disposable income, or €1 in €8.

The household savings rate fell from 13.2% in Q1 2025, but it remains close to the average of 12.7% since the start of 2023.

While the national savings rate can provide a helpful snapshot of personal savings in Ireland, it’s important to remember that it's an average figure.

Generally, younger adults in Ireland typically have lower incomes and higher living costs, and are less likely to own a home, all of which can limit their ability to save. Meanwhile, older households may have benefited from decades of income growth, compound interest, and homeownership.

Indeed, national data shows a significant difference between younger and older people in Ireland when it comes to net wealth. This refers to any savings, investments, pensions, and property someone might have, minus their debts. Comparing net wealth figures for different age groups demonstrates how dramatically wealth can build over time.

Source: https://www.cso.ie/en/releasesandpublications/ep/p-hfcs/householdfinanceandconsumptionsurvey2023/age/

There isn’t an exact figure that captures average savings by age in Ireland. As of July 2025, Irish people held around €167 billion in deposits with Irish banks and credit unions, up €11.1 billion from the previous year.

However, while Irish households collectively hold substantial deposits, these figures don’t necessarily reflect individual saving patterns. A 2024 study found that 1 in 4 adults in Ireland had savings of less than €500, and 53% had savings of less than €3,000.

There’s no official figure for how much you might aim to have saved by age 40 (or any age). However, national data shows that households aged 35 – 44 have median net wealth of €143,900, which may include cash savings.

Instead of focusing on a specific number, some people choose to follow one of these common rules of thumb:

• An emergency fund with around three to six months’ worth of living costs: This acts as a financial safety net for unexpected events (such as if you lost your job or your car broke down), so you won’t have to dip into long-term savings or take on debt during unforeseen circumstances.
• Regular pension contributions: Starting retirement planning early and consistently maintaining a pension pot can help even small contributions to grow through compounding. Some financial sources suggest having savings or pension assets roughly equal to two times your annual salary — but this varies by individual situation.
• Progress towards long-term wealth: Beyond an emergency fund and pension, some people might start growing their wealth in other ways. This could mean adding to a high-interest savings account regularly, or gradually paying down debt.

For younger adults in Ireland, saving can be challenging thanks to rising living costs and high rent. The most recent data shows that households with a reference person (the main person representing the household in statistics) under 35 had a median net wealth of €23,400. This was the only age group to have seen a decline in median net wealth in Ireland since 2020 – a 15% drop, down from €27,600.

However, the net wealth figure includes savings, pensions, property equity, and other assets, minus debts, so the amount of money actually in cash savings is likely to be lower.

The average 25-year-old might focus on building good financial habits, such as creating an emergency fund, starting pension contributions early, and setting aside consistent, manageable savings. The 50/30/20 rule may be a helpful budgeting framework for realistic money management, in which you save up to 20% of your monthly income.

No matter what type of saver you are, putting aside some money regularly (even small amounts) can grow into more considerable savings over time.

Since the start of 2023, Ireland’s household saving rate has averaged around 12.7%, returning to roughly the same level as before the COVID‑19 pandemic, when it was about 13.5%.

By comparison, the euro area average saving rate has risen since the pre-pandemic years. In 2018 – 2019, the rate was 12.7%, but it increased to around 14.7% in 2023 – 2024, meaning many European households are now saving a higher proportion of their income than before COVID‑19.

When it comes to savings account interest rates, Ireland has historically offered lower average returns than some other European countries, with Irish savers ­getting some of the lowest returns in the Eurozone over the past 10 years. Research from Raisin shows that the average Irish household received 2.44% interest on new term deposits over the year to August 2025. Many savers are now exploring savings accounts beyond Ireland to access higher interest rates.

If you’re looking to make your savings work harder, Raisin offers access to competitive, high-interest savings accounts from a range of partner banks, all under one roof. You can currently earn up to 3.20% AER on a term deposit.

Plus, with Raisin, deposits of up to €100,000 per person, per bank are legally protected by the national deposit scheme of the country where the bank is headquartered. Whether you’re building an emergency fund, setting long-term goals, or looking to put some money away in volatile markets, Raisin makes it easy to compare options and find an account that suits your needs.

References

https://www.cso.ie/en/statistics/nationalaccounts/householdsaving/

https://www.cso.ie/en/releasesandpublications/ep/p-hfcs/householdfinanceandconsumptionsurvey2023/age/

https://www.rte.ie/news/business/2025/1019/1539060-inflation-and-savings-what-you-need-to-know/

https://www.cso.ie/en/releasesandpublications/ep/p-hs/householdsavingq22025/