Raisin Ireland Review 2026: Access EU Savings Rates

Raisin gives Irish savers access to higher EU bank rates. Up to 2.80% on fixed terms. Is it safe? How does it work?

By SmartSaver Team | Published 1 January 2026 | 5 min read

Topics: raisin ireland, raisin review, eu savings rates, fixed term savings

Raisin is a marketplace connecting Irish savers with EU banks offering higher rates. Here's how it works and whether it's right for you.

Raisin at a Glance

| Feature | Detail | |---------|--------| | Best Rate | Up to 2.80% (1-year fixed) | | Type | Marketplace (not a bank) | | Minimum | €500-€5,000 depending on bank | | Protection | Home country guarantee per bank | | DIRT | Not deducted (self-assess) |

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How Raisin Works

Raisin isn't a bank—it's a platform connecting you with EU partner banks:

Open one Raisin account (free)

Browse partner bank rates

Choose a savings product

Transfer money via Raisin

Money goes to partner bank

Interest paid at maturity

Withdraw via Raisin

Your money is held by the partner bank, protected by that bank's country guarantee.

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Current Raisin Rates (January 2026)

Instant Access

| Bank | Rate | Minimum | Country | |------|------|---------|---------| | TF Bank | 2.17% | None | Sweden | | Nordax Bank | 2.07% | None | Sweden |

1-Year Fixed

| Bank | Rate | Minimum | Country | |------|------|---------|---------| | Aareal Bank | 2.80% | €1,000 | Germany | | Hamburg Commercial | 2.80% | €5,000 | Germany | | Collector | 2.75% | €500 | Sweden |

2-Year Fixed

| Bank | Rate | Minimum | Country | |------|------|---------|---------| | Rietumu Bank | 2.81% | €5,000 | Latvia | | Collector | 2.69% | €500 | Sweden |

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Is Raisin Safe?

Yes, but understand the structure:

Partner Banks

Each bank is separately protected by its home country deposit guarantee (€100,000). This is the same protection level as Irish banks.

| Bank | Country | Guarantee | |------|---------|-----------| | Aareal Bank | Germany | German DGS | | TF Bank | Sweden | Swedish DGS | | Collector | Sweden | Swedish DGS | | Rietumu Bank | Latvia | Latvian DGS |

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DIRT Tax on Raisin

Important: Raisin does NOT deduct DIRT at source.

You must:

Track interest earned

Declare on annual tax return

Pay 41% DIRT yourself

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Raisin vs Alternatives

Raisin vs Bunq

| Factor | Raisin (1-year fixed) | Bunq | |--------|----------------------|------| | Rate | 2.80% | 2.01% | | After DIRT | 1.65% | 1.19% | | Access | Locked 1 year | Instant | | DIRT handling | Self-assess | Automatic |

Raisin wins on rate if you can lock money.

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Pros and Cons

Pros

Higher rates than Irish banks
Access to multiple EU banks
€100,000 protection per bank
Good for diversification

Cons

DIRT not deducted (self-assessment required)
Money locked for term
Some banks have high minimums
Extra admin vs traditional bank

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Verdict

Rating: 3.5/5

Raisin offers genuinely higher rates, but the self-assessment requirement and fixed terms limit appeal. Best for organised savers seeking maximum returns on money they won't need.

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Last updated: January 2026

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