Irish savers are collectively missing out on up to 3.5 billion euro a year in interest, according to data from the Central Bank of Ireland.

Figures from the European Central Banks show the average interest rate on a savings account with a fixed maturity in Ireland is 2.59 per cent.

However, savers here can avail of much higher rates with banks in the European Union, which can reach 4 per cent or above.

David Kerr, founder and CEO of bonkers dot ie, says people need to change their thought process when it comes to saving money...

 

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