The Nitty Gritty - Interest First Account

What’s all this? Check out some important information on our products. If you need more details, call us on 1890 818 719 or drop into your local branch.

Get all your interest in your pocket in the first month

The calculations are based on Cleared Funds for the full term of the account. If you lodge uncleared funds (like a cheque) the amount of interest you get will be lower. Deposit Interest Retention Tax (DIRT) has already been taken off in the net calculations, so you know how much interest you’ll pocket.

Why do we need proof of your PPSN/Tax Reference Number?

From 29th June 2009, financial institutions are obliged to request customers to provide their tax reference number (e.g. Personal Public Service Number (PPSN) or Corporation Tax number) when they open a new current or deposit account which may give rise to the payment of such interest by their financial institution. Under the Regulations, this number will be included in the annual return of interest to the Revenue Commissioners. Financial institutions are also obliged to request personal customers to provide suitable documentation to verify their PPSN (in the form of a P60, Notice of Tax Credits, Payslip, Tax Assessment etc). It should be noted that the PPSN will only be used for the purpose of making this annual return to the Revenue Commissioners.

If customers fail, for whatever reason, to provide their tax reference number and/or the PPSN supporting documentation, financial institutions are required to indicate this on the annual return of interest.

These regulations and guidance notes are available on the Revenue website at

The following documentation (original or copy) may be used to verify the tax reference number as required under the current regulations.

  • P60
  • P45
  • P21 Balancing Statement
  • Payslip (where employer is identified by name or tax number)
  • Drug payment scheme card
  • European health insurance card
  • Tax Assessment
  • Tax Return Form
  • PAYE Notice of Tax Credits
  • Child Benefit Award Letter /Book
  • Pension Book
  • Social Services card

Terms and conditions apply

Please read our Terms and Conditions brochure for full details.

  • Generally interest is subject to DIRT (Deposit Interest Retention Tax) at the prevailing rate.
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