Bank of Ireland UK savings rates — compare every account, plus switch offers and guides

Who they are

At the heart of the wider group is the Governor and Company of the Bank of Ireland, an institution established by royal charter in 1783. The UK arm has a more recent history - Bank of Ireland UK plc was incorporated and established as a separate legal entity in 2009. Today it operates as a regulated UK bank, perhaps best known to many savers through its long-running partnership with the Post Office. Bank of Ireland also provides Post Office branded savings accounts throughout the UK.

Savings accounts

The main savings product currently available to new customers at Bank of Ireland UK is the Online ISA Easy Access. It pays a variable rate of 4.21% AER on balances from £100, with instant access to your money. It is a cash ISA, so the interest you earn is free of UK Income Tax and Capital Gains Tax - useful if you have not yet used your annual ISA allowance.

One thing to be aware of: the headline rate includes a fixed introductory bonus element for the first 12 months. Once that period ends, the underlying rate drops significantly, so it is worth reviewing the account at that point and comparing what else is on the market.

FSCS protection and licence sharing

Your eligible deposits with Bank of Ireland (UK) plc are protected up to £120,000 by the FSCS - but this limit applies to the total of any deposits you hold across both Bank of Ireland UK and Post Office. Any deposits above that combined limit are unlikely to be covered. If you already save with the Post Office, that is worth factoring in before opening an account here.

Is it right for you?

Bank of Ireland UK suits savers who want an easy-access cash ISA with a competitive short-term rate and instant access to their money. The £100 minimum deposit is low, making it accessible. Just keep a close eye on when the introductory bonus expires - the rate you see today is not the rate you will necessarily earn in year two and beyond.

As always, the live rate shown on this page is the most up-to-date figure, so use that when making your comparison rather than any number you may have seen elsewhere.