Savings & DIRT Tax Calculator
Forecast your compound savings growth and see your true net return after Irish DIRT tax (default 33%).
Savings Parameters
Adjust if you are over 65 or qualify for an exemption.
Enter to see inflation-adjusted real returns.
Final Take-Home Savings (After DIRT Tax)
€0
Inflation-adjusted value: €0
Total DIRT Tax Deducted
€0Total Paid In
€0
Gross Interest Earned
€0
Net Interest (After DIRT)
€0
Year-by-Year Growth Breakdown
| Year | Balance (Gross) | Interest Earned | DIRT Deducted | Net Balance |
|---|
How to Use This Irish Savings & DIRT Tax Calculator
1. Enter Your Savings Details
- • Initial Deposit (€): The starting balance you'll place into your savings account.
- • Monthly Contribution (€): How much you plan to add each month. Even small amounts add up significantly over time!
- • Annual Interest Rate (AER %): The Annual Equivalent Rate offered by your bank (e.g., 3.5% for some digital savings accounts).
- • Time Horizon: How many years you plan to save – from 1 to 20 years.
2. Advanced Adjustments
- • DIRT Tax Rate: Default is 33% (standard rate for 2026). Adjust this if you qualify for an exemption (e.g., over 65 or permanently incapacitated).
- • Compounding Frequency: Choose between Monthly (most common), Quarterly, or Annually – matches how your bank calculates interest.
- • Annual Account Fee (€): Some accounts charge a yearly maintenance fee. Enter it here for a more accurate net return.
- • Inflation Rate (%): Enter expected inflation to see your real (inflation-adjusted) savings value. The Irish average is typically 2–3%.
Pro Tip: To estimate your buying power in the future, set the inflation rate to the current rate (e.g., 3%) and see how much your savings will be worth in today's money.
2. Read Your Results
- • Final Take-Home Savings: Your total balance after DIRT tax deduction – the actual amount you'll have in your account.
- • Inflation-Adjusted Value: Shows what your final savings will be worth in today's purchasing power – a more realistic measure of your future wealth.
- • Total DIRT Tax Deducted: The total amount of tax paid to Revenue over the entire savings period.
- • Gross vs Net Interest: See the difference between interest earned before tax (gross) and after DIRT deduction (net).
- • Year-by-Year Breakdown Table: Scroll through the table to see how your savings grow each year, including annual interest and tax deductions.
Why this matters: Understanding the impact of DIRT tax on your savings helps you choose the right savings product and set realistic financial goals. A 3.5% AER effectively becomes ~2.35% after DIRT – a significant difference over 10+ years.
Understanding DIRT Tax on Savings Accounts in Ireland
If you are holding cash in an Irish financial institution (like AIB, Bank of Ireland, EBS, or digital savings platforms operating in the state), your earned interest is subject to DIRT (Deposit Interest Retention Tax). As of 2026, the legislative rate sits firmly at 33%.
Compound interest is highly effective for building a down-payment for a property mortgage, but the 33% tax drag can significantly reduce your compounding speed. For instance, an advertised 3.5% AER (Annual Equivalent Rate) effectively becomes a net yield of approximately 2.345% AER once Revenue takes its portion.
Using an accurate tool like this one helps you map out realistic financial goals without end-of-year surprises. The year-by-year breakdown gives you full visibility into how your savings grow over time, while the inflation adjustment helps you understand your future purchasing power.