MortgageSaver account


What is a MortgageSaver account?

MortgageSaver is a savings account specifically designed to help you save for your deposit. It also offers first-time buyers €2,000 bonus interest (less Deposit Interest Retention Tax (DIRT)) on your savings when you draw down a Bank of Ireland mortgage. Terms and conditions apply.


Why save your deposit with us?

€2,000 bonus interest (less DIRT)

First-time buyers can get €2,000 bonus interest (less DIRT) on your savings if you draw down a Bank of Ireland mortgage. Terms and conditions apply.

Variable interest rate

Earn 2% Annual Equivalent Rate (AER) variable on regular savings up to €15,000, and 0.5% on any amount above that or on lump sum lodgements.1

Apply online in minutes

There’s no need to go to a branch, just upload your photo ID and address verification documents during account opening.

Lump sum payments

You have the option to lodge lump sum payments, up to a total value of €20,000, in any branch.

Apply solely or jointly

You can apply for a sole account or a joint account.

Instant access

You have instant access to your money in any branch (bring photo ID), or next working day access through 365 online if you’re a registered customer.

Save by direct debit

Save between €200 and €2,500 a month by direct debit.


Who is eligible for MortgageSaver?

To open a MortgageSaver account you must be:

  • Aged 18 or over
  • Resident in the Republic of Ireland



Open a MortgageSaver account


Who is eligible for MortgageSaver?

To open a MortgageSaver account you must be:

  • Aged 18 or over
  • Resident in the Republic of Ireland


Open a MortgageSaver account



How do I get the €2,000 bonus interest (less DIRT)?

To get the €2,000 bonus interest (less DIRT), MortgageSaver account holders must:

  • Be a first-time buyer (all buyers must be buying their first home).
  • Save between €200 and €2,500 each month for at least six months in a row and reach at least €5,000
  • Draw down a Bank of Ireland first-time buyer mortgage within 30 months of opening your MortgageSaver account.
  • Use the savings from your MortgageSaver account to help buy your first home.

Please note:

The bonus interest (less DIRT at the prevailing rate) will be paid when you draw down your Bank of Ireland first-time buyer mortgage in full within five working days. You can only receive one MortgageSaver bonus interest (less DIRT) payment for each mortgage you draw down.



Want to view other saving options?

We have a range of other savings accounts that may suit your needs.

Discover more savings options


What do I need to apply?

If you’re a Bank of Ireland customer:

  • Your current account IBAN
    
you’ll find this on your current account statements or use our IBAN calculator
  • Your 365 user ID (if applying through the 365 mobile app)
  • Access to the phone number registered to your 365 online profile (if applying through the 365 mobile app)
  • Proof of your Personal Public Service Number (PPSN)
    
Full list of acceptable documents here.

If you’re not a Bank of Ireland customer:

  • Two forms of ID
    
your current passport and a selfie or a second document like your driving licence (IRL or UK)
  • Proof of address
    
a bank statement from any Irish bank or a utility bill dated within the last 6 months
  • Proof of your Personal Public Service Number (PPSN)
    
Full list of acceptable documents here.


Open a MortgageSaver account


Please note:

If you cannot provide your PPSN during the online application, you can visit a branch at a time that suits you.


First-time buyer mortgage

Buying your first home? Discover your mortgage options for your first home and read our mortgage guide for first-time buyers.

Learn about first-time buyer


Frequently asked questions


There are terms and conditions that apply to the MortgageSaver savings account. Please see below for more information:

Download terms and conditions

Download MortgageSaver brochure

See our customer deposit rate sheet:

Download our deposit rates

The Deposit Guarantee Scheme (DGS) protects depositors in the event of a bank, building society or credit union authorised by the Central Bank of Ireland being unable to repay deposits.

1 Interest rate is variable. Annual Equivalent Rates (AER) are quoted based on a 365 day calendar year.


The lender is Bank of Ireland Mortgage Bank u.c. Lending criteria and terms and conditions apply. We require property and life insurance. You mortgage your home to secure the loan. Available to over 18s only. The mortgage will be subject to assessment of suitability and affordability.

Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland.