DIRT Calculator Ireland

What this calculator is for

Deposit Interest Retention Tax is the tax deducted from interest on many deposit accounts held by Irish-resident individuals. This calculator separates gross interest, DIRT and net interest.

Gross interest, DIRT and the rate you actually keep

A deposit account is normally advertised using a gross interest rate. The calculator’s first section starts one step later: enter the gross euro interest and it shows the DIRT deduction and the amount retained after that tax assumption.

Advanced mode reverses the perspective. You enter a starting deposit, gross annual rate and number of years, and the calculator compounds the balance after applying DIRT to each year’s modelled interest. This makes the difference between a quoted gross rate and the after-DIRT compounding rate visible.

For example, a 3% gross deposit rate does not produce 3% annual compounding after a 33% DIRT deduction in this simplified model. The retained interest rate is 67% of the gross interest rate before considering exemptions or special account treatment. That distinction becomes more important over several years because the tax reduces the amount available to compound in later years.

Use the Regular Savings Calculator if you also plan to add monthly contributions, and the Inflation Calculator if you want to compare nominal deposit growth with purchasing power.

How to read the result

DIRT applies to the interest earned, not the deposit principal. A €50,000 deposit does not create a €16,500 tax bill; only the interest paid is taxed at the applicable rate.

Worked example

If a deposit earns €1,000 gross interest, 33% DIRT is €330 and the net interest is €670, assuming the standard rate applies and no exemption/refund applies.

Irish context

Revenue states that the current DIRT rate is 33% for Irish-resident individuals. Certain people can qualify for DIRT exemption or refunds, including under specified age/disability and income conditions.

What can change the answer

Gross interest, compounding frequency, account type, residency and exemption status can affect the tax actually deducted. Foreign deposit interest can have separate reporting requirements.

Common mistakes to avoid

Do not apply DIRT to the full account balance. Do not assume all savings products are taxed as deposit interest. And do not compare a deposit’s gross rate with an investment’s after-tax return without putting both on the same basis.

Related Compound tools

Use the Regular Savings Calculator for accumulation, Savings Goal Calculator for targets and Capital Gains Tax Calculator for qualifying asset disposals rather than deposit interest.

Frequently asked questions

What is the DIRT rate?

Revenue currently states 33%.

Is DIRT charged on my deposit?

No, on the interest.

Can anyone be exempt?

Certain qualifying individuals can be exempt or claim refunds under Revenue rules.

Does DIRT cover shares or funds?

No. Those can fall under different tax regimes.

Gross rate versus the rate you actually keep

Savings accounts are usually advertised using a gross interest rate. DIRT means the amount that lands in your account after tax is lower unless an exemption applies.

At a 3% gross deposit rate, the simple after-DIRT rate for a standard taxable account is roughly 2.01% before allowing for the exact timing of interest payments. That distinction becomes important when comparing deposits with other products: compare after-tax, after-fee outcomes, not one product’s gross headline rate with another product’s net return.

Revenue also provides exemption and refund rules for certain individuals, including qualifying people aged 65 or over and permanently incapacitated people where the relevant income conditions are met. Those are personal eligibility questions rather than something this calculator can infer from an account balance.

For longer-term savings, also compare the after-tax return with inflation. A positive bank balance can still lose purchasing power if the net interest rate is below inflation.

Compare deposits on an after-tax, after-inflation basis

DIRT is 33% on deposit interest for Irish-resident individuals in the standard case. That means an advertised gross deposit rate is not the same thing as the return that increases your spendable wealth.

A simple comparison framework is:

gross interest → DIRT → net interest → inflation-adjusted purchasing power

At a 4% gross rate, a simple 33% DIRT deduction leaves about 2.68% of net interest before allowing for compounding detail. If inflation were above that net rate, the account could still lose purchasing power even while the euro balance rises.

That is why the Inflation Calculator is a useful companion for medium- and long-term savings decisions.

Promotional rates need a full-period comparison

A high introductory rate can look better than it really is if it applies only for a short period or to a limited balance. Convert each option into an estimated euro interest amount over the same time horizon, apply the appropriate DIRT assumption, and compare the net euro outcome.

The same principle applies when one account pays monthly interest and another pays annually. Payment frequency can affect compounding, but the advertised headline rate alone does not capture the full result.

DIRT is not a universal investment-tax calculator

This tool is for deposit interest. It should not be reused to estimate the tax on shares, investment funds, ETFs, rental income or capital gains. Different Irish tax regimes can apply to those assets.

Use the Capital Gains Tax Calculator only where ordinary CGT treatment is actually appropriate, and verify the regime for funds or other products separately.

Exemptions and foreign interest

Some people may qualify for DIRT exemptions or refunds, and foreign deposit interest can have separate reporting requirements. The calculator therefore models the standard Irish-resident deposit case rather than every possible exception.

Revenue’s current guidance confirms the 33% rate for Irish-resident individuals. See What DIRT rate is applicable?.

Method and limitations

The tool multiplies gross deposit interest by the implemented DIRT rate and subtracts that tax from gross interest. It does not determine exemption eligibility or foreign-account reporting.

Useful sources

• Revenue — What DIRT rate is applicable?

Gross savings rate versus net savings rate

When comparing deposit accounts, the advertised interest rate is normally a gross rate. What matters to an Irish-resident saver is the amount left after DIRT where DIRT applies.

At a 4% gross rate and 33% DIRT, the simple after-DIRT return on the interest is about 2.68% before considering compounding details.

That makes it useful to compare accounts on a consistent net basis, especially when one product advertises a promotional gross rate and another quotes a different structure.

Inflation is another layer. A deposit can grow in euro terms while losing purchasing power if the after-tax interest rate is below inflation. Use the Inflation Calculator when the savings horizon is long enough for that difference to matter.