Bank of Ireland has become the latest bank to pass on more of the ECB interest rate increases to its deposit customers.
It comes amid growing pressure on banks here to funnel through the benefits of the rate changes over recent months to those with savings.
In a statement, Bank of Ireland said it is introducing a new savings account with a 1.5% rate for the first 12 months.
The SuperSaver account will, however, be capped at €30,000 and once that has been breached the rate will drop to the standard regular saver rate.
That rate is also increasing under the changes announced today, from 0.75% to 1% from this Friday.
However, the rate is also only available up to a ceiling of €15,000.
Bank of Ireland is also introducing two new 1-year fixed term deposit accounts at a rate of 0.75%, up from the current 0.5% available on its fixed term deposit accounts.
One of the products will be for personal customers with the other aimed at business customers and they will also be available from this Friday.
The personal account will not have a maximum balance limit, differing from the current fixed term deposit accounts which are capped at €100,000 for personal depositors and €250,000 for businesses.
Banks here have been criticised for the slow pace at which they are passing on the interest rate increases that the ECB has introduced since last July.
Cumulatively the ECB has raised rates by 3.7% in a series of incremental rises, in a bid to bring inflation in the eurozone under control.
At its recent annual general meeting, AIB came under questioning from shareholders about why it had not passed on the full benefit of the rate increases to its depositors.
However, AIB and the other Irish banks have argued that while they may not have passed on the full rate changes to those with savings, they also have not imposed the entire burden of the changes on mortgage borrowers either.
