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Rabo to raise interest

RABODIRECT is offering Irish customers an increase in interest rates to as much as 2.25pc.

The company said that the interest rate it pays for on-demand personal savings will rise from 2pc to 2.25pc on balances from €1.

For business customers, RaboDirect is increasing its rate from 1.80pc to 1.90pc.

The move will come into effect from next Monday, April 18.

The bank has pledged to keep its rate at 1pc above the ECB rate while at the same time ensuring savers have instant access to their money.