Banking

Permanent TSB becomes the latest bank to hike consumer deposit and savings rates

The lender said it will increase its rate on its three year fixed-term deposit accounts to a new high of 3 per cent

Permanent TSB has increased its interest rate on savings and deposit accounts as pressure continues to mount on retail banks to pass on more of the recent rate hikes to consumers. On Wednesday, the lender said it had increased its interest rate on three-year fixed term deposits to 3 per cent – matching a similar move made earlier this week by Bank of Ireland.

Permanent TSB said it is also hiking its interest rate on ...