{"id":127340,"date":"2025-10-17T05:25:12","date_gmt":"2025-10-17T05:25:12","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/127340\/"},"modified":"2025-10-17T05:25:12","modified_gmt":"2025-10-17T05:25:12","slug":"avant-money-offers-savers-market-leading-rate-of-2-6-in-soft-launch-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/127340\/","title":{"rendered":"Avant Money offers savers market-leading rate of 2.6% in \u2018soft launch\u2019 \u2013 The Irish Times"},"content":{"rendered":"

Avant Money<\/a>, the Irish unit of Spanish bank Bankinter, has commenced a \u201csoft launch\u201d of deposits with a small number of existing customers in advance of the formal roll-out of its savings offering next month. <\/p>\n

Participants in the phased pilot programme are being offered a six-month fixed-term deposit product, carrying an annualised rate of 2.6 per cent, according to sources. <\/p>\n

\u201cAs part of the imminent launch of deposits, Bankinter is reaching out to a small number of its Avant Money customers as part of a phased pilot, with a limited-time offer starting this week,\u201d a spokesman for the Irish unit confirmed. \u201cThe actual launch of our deposit product will follow next month, and details will be shared then.\u201d<\/p>\n

The soft launch comes a little over six months after Avant, led by chief executive Niall Corbett, became a branch of Bankinter, allowing it to venture into deposit gathering. <\/p>\n

Avant was originally known to be planning to start collecting deposits by the middle of the year. <\/p>\n

Bankinter <\/a>chief executive Gloria Oritz said in January she expected Avant to gather \u20ac100 million-\u20ac200 million of deposits in 2025, before growing gradually to a stage where the Irish loan book is almost funded by local deposits within eight years.<\/p>\n

\"\"Dublin Bus CEO on recruitment challenges, going electric, and stamping out anti-social behaviour <\/p>\n

It is unlikely that the 2025 estimate still stands. The Avant spokesman declined to comment. <\/p>\n

Avant had a \u20ac3 billion mortgage portfolio and \u20ac1 billion personal loans book as of the end of June.<\/p>\n

Bankinter, the fifth-largest Spanish bank, entered the Republic in 2019 through the acquisition of Avantcard, a credit card and consumer finance business, from US investment group Apollo.<\/p>\n

limited-time was subsequently renamed Avant Money, which moved into Irish mortgages in late 2020 with headline rates that undercut the cheapest home loans available at the time in the market.<\/p>\n

Earlier this month, MoCo<\/a>, the Irish unit of Austrian<\/a> bank Bawag<\/a>, launched a new easy-access savings account with an initial annual interest rate of 2 per cent, widening its product base beyond mortgages<\/a>.<\/p>\n

While the mainstream banks offer rates of as much as 3 per cent for certain instant-access savings accounts, there are restrictions on how much a customer can put in such accounts every month. The new MoCo EasySaver account does not have such limits.<\/p>\n

Meanwhile, about 85 per cent of household savings are held in current or on-demand accounts, where they are receiving just 0.13 per cent on average in July, according to the latest Central Bank of Ireland figures.<\/p>\n","protected":false},"excerpt":{"rendered":"Avant Money, the Irish unit of Spanish bank Bankinter, has commenced a \u201csoft launch\u201d of deposits with a…\n","protected":false},"author":2,"featured_media":127341,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73],"tags":[76953,76955,79,18,19,2003,17,76954],"class_list":{"0":"post-127340","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-avant-money","9":"tag-bankinter","10":"tag-business","11":"tag-eire","12":"tag-ie","13":"tag-investment","14":"tag-ireland","15":"tag-moco"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/127340","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=127340"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/127340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/127341"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=127340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=127340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=127340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}