Irish savers are earning just €3 for every €10,000 they save.
A new survey has found that Ireland has the lowest interest rates on savings in the eurozone.
The average rate of interest paid on new deposits in the country is just 0.03 per cent – one-tenth of the average across the eurozone which is 0.32 per cent.
The Irish Independent reports that record amounts of money are being lodged into savings accounts in banks and credit unions by householders.
For every €10,000 someone saves in Ireland, they’ll earn €3 euro in interest.
While in the Netherlands – savers can earn 1.22 per cent- meaning dutch savers get a return of €122 euro for every 10K saved.
A study by Raisin – a provider of deposit accounts across the EU – found that interest rates are falling in Ireland despite the European central bank leaving its base rates unchanged for the last number of years
