What is the rate of Deposit Interest Retention Tax (DIRT)?

33% of the interest, deducted by the bank or credit union each time interest is paid. USC doesn't apply to deposit interest.

Who doesn't pay the tax on savings interest?

People 65 or over (or whose spouse is) with income under €18,000 single or €36,000 as a couple. People with a lasting disability that stops them working. Non-residents, and some others. You need to fill in a form for the bank or Revenue.

Do I need to declare deposit interest?

Yes. Enter the interest before tax on your return: Form 11 if you file your own tax return, or Form 12 in myAccount if you're a PAYE worker.

Savings

DIRT on savings interest

Your savings interest after 33% Deposit Interest Retention Tax (DIRT), year by year, and whether you can get it tax-free.

Self-assessment tool. The figures come from your own answers. It isn't advice, and you're responsible for what you file or claim. heypenny.ie is a trading name of Kinch Press. Read the disclaimer.

Common questions

What is the rate of Deposit Interest Retention Tax (DIRT)?: 33% of the interest, deducted by the bank or credit union each time interest is paid. USC doesn't apply to deposit interest.
Who doesn't pay the tax on savings interest?: People 65 or over (or whose spouse is) with income under €18,000 single or €36,000 as a couple. People with a lasting disability that stops them working. Non-residents, and some others. You need to fill in a form for the bank or Revenue.
Do I need to declare deposit interest?: Yes. Enter the interest before tax on your return: Form 11 if you file your own tax return, or Form 12 in myAccount if you're a PAYE worker.

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