Deposit Accounts at Ballinasloe Credit Union

Ballinasloe Credit Union is delighted to offer Fixed-Term Deposit Accounts to give members a guaranteed return on their savings.

Members have the option of a 1-Year, 3-Year or 5-Year Term Deposit Account.

You need to have €10 in your share account to open a deposit account. The most that you can hold between all your savings’ accounts with us is €100,000.


Complete the relevant application form and a member of staff will confirm the details.

Members will need to provide the following documentation when applying for the Deposit Accounts:

  • Proof of ID

  • Proof of Address

  • Proof of PPSN


Name Term Minimum Maximum Fixed Term Return AER Fixed
1 Year Fixed Term Account 12 Months €1,000 €100,000 1.50% 1.50%
3 Year Fixed Term Account 36 Months €1,000 €100,000 5.25% 1.75%
5 Year Fixed Term Account 60 Months €1,000 €100,000 10% 2.00%


Minimum Lodgement


Maximum Lodgement



No – Except for one withdrawal of up to 10% of the amount deposit.

Additional Lodgements


Withdrawal Arrangements

At the end of the term your money, plus interest, will be returned to an account you select.

Interest Rate Type

Fixed Rate Term Deposit

Interest Rate

1.50%     1.75% (3 Years)    2.00% (5 Years)

Interest Payment

Interest Paid Annually

Sole or Joint Accounts

Open to Single and Joint Accounts

How to Apply

You can open this account by completing the application form

Other Important Information

The account is only open to members over 18 years of age. The Fixed Rate Term Deposit Account does not carry any Life Savings Insurance cover.

Frequently Asked Questions

The available fixed rate term deposit accounts are: ​

  • Fixed Rate Term Deposit – 1.50% over 1 year (AER 1.50%) ​
  • Fixed Rate Term Deposit – 5.25% over 3 years (AER 1.75%) ​
  • Fixed Rate Term Deposit – 10.00% over 5 years (AER 2.00%) ​
  • The minimum amount that can be deposited is €1,000. ​
  • There is no maximum amount as long as the member does not exceed €100,000 in total savings with the Credit Union. ​
  • No, further lodgements to the same balance are not permitted once the account is opened.
  • You may open one of each available deposit products. You cannot open more than one of the same deposit product.
  • No, withdrawals are not permitted for the term except for one withdrawal of up to 10% of the amount deposited. ​ It may take up to 10 working days for a withdrawal to be processed.
  • The fixed term period starts on the date the deposit is opened and ends on the maturity date applicable to the selected account.
  • You will be eligible to apply for a savings secured loan with us.
  • Interest is calculated and accrued each day on the principal balance in the account from the start date of the term up to the maturity date. ​
  • Interest is paid annually on the anniversary of the start date after the deduction of Deposit Interest Retention Tax (DIRT) to your share account. ​
  • The interest rate applied to the account is the rate applicable on the day the initial lodgement is made and will apply until the maturity date.
  • At the end of the fixed term, the deposit will mature and interest will cease to accrue.
  • The Credit Union will provide options to the member in advance of the maturity date, including transferring the matured amount to the member’s share account, placing the deposit in a 12 month Fixed Term Deposit Account, or returning the matured funds to the member by cheque or EFT.