Bankinter, the Spanish lender that owns Avant Money, has launched two deposit savings products as it continues its expansion into the Irish financial services market. The bank introduced a six-month deposit account with an annual equivalent rate of 2.62 per cent and a one-year fixed account at 2.3 per cent.

RTE reported that customers can deposit between €2,000 and €200,000 in the accounts, with access to up to 25 per cent of funds during the term.

Central Bank data from October 2025 showed Irish households held €170 billion on deposit, with most sitting in low or no-interest accounts. Earlier analysis suggested households missed out on almost €800 million in interest due to reluctance to move money to longer-term savings or investment accounts.

Ciarán Byrne, head of everyday banking at Bankinter Ireland, said: "The six month rate is particularly compelling. So that's 1.1% more than you would get with the three main banks today - we think it is a compelling offer."

Byrne acknowledged the challenge of convincing consumers to entrust money to a company with which they likely have no previous relationship. He noted: "We've been able to generate substantial market share - in our mortgage business, we're writing about 7% of new mortgages in the country and we think there's an opportunity for us to do the same for deposits."

Bankinter entered Ireland in 2018 through the acquisition of credit card firm Avantcard, launching mortgage products in 2020 under the Avant Money brand. After securing a full Irish banking licence last year, the bank plans to begin offering current accounts whilst phasing out the Avant brand in favour of Bankinter.

Explore Bankinter's full expansion strategy and deposit offerings in the Irish financial services market.