1.1 "Account" means the Golden Years Deposit Account.

1.2 "Account holder" or "you" means the person(s) in whose name(s) the Account is maintained.

1.3 "Bank", "we" or "us" means The Governor and Company of the Bank of Ireland having its Head Office at Lower Baggot Street, Dublin 2 and its successors and assigns;

1.4 "Term" means the duration of the Account, which is 6 months.

2.1 To open an Account, at least one Account holder must be aged 60 years or more.

2.2 Subject to Clause 2.3, we agree to provide an Account in your name in accordance with the Terms and Conditions. You must operate the Account in credit.

2.3 The minimum Account balance that may be held in your Account is €3,000 and the maximum balance that may be held in your Account is €650,000.

2.4 You may make one additional lodgment of not more than 25% of the original sum invested to the Account within 30 days of the opening date, at the same rate of interest.

2.5 Your Account shall be renewed automatically on termination. Unless we receive instructions from you on or before the final day of a Term, your Account shall be renewed on the day after the expiry of the Term at the then prevailing fixed rate and shall continue to be subject to these Terms and Conditions.

2.6 In the case of a joint Account, and in the event of death of any one or more of the Account holders any monies outstanding in the Account (together with any interest payable at such point in time) shall be payable to the surviving Account holder, and in the event of death of the last surviving Account holder to that Account holder's estate.

3.1 The interest rate on the Account is fixed, and will be agreed at the beginning of the Term. Details of applicable interest rates are available from branches of the Bank.

3.2 The interest rate applied to the Account will be the rate applicable on the day that the initial lodgment is made to the Account.

3.3 Interest will be calculated each day based on the balance in the Account.

3.4 Interest will be paid at the end of the Term. For the avoidance of doubt where your Account is automatically renewed, as set out in Clause 2.5, interest shall be paid at the end of each Term.

3.5 The interest payable at the end of the Term may be added to the balance of the Account or lodged to another account with us, at your discretion.

3.6 Interest will be paid after the deduction of Deposit Interest Retention Tax (DIRT), which will be calculated using the prevailing DIRT rate at the time of payment. The current DIRT rate is 25%, but is subject to change.

4.1 You may make one withdrawal of not more than 25% of the balance during the Term without incurring a charge.

4.2 Further withdrawals can be made but shall be subject to a payment to the Bank of an amount calculated as set out below. This amount represents payment for any funding loss incurred by the Bank in replacing the amount withdrawn.

Where -

A is the amount withdrawn

B% is the cost to the Bank of replacing the funds

This is the difference between:

C is the number of days remaining in the Term

4.3 Subject to Clause 2.3 only cleared balances may be withdrawn.

4.4 Withdrawals using an ATM card, Standing Order or Direct Debit facilities are not available on this Account.

4.5 Subject to any other condition herein contained, the proceeds of any cheque lodged to an Account may not be withdrawn until the cheque has cleared.

4.6 If your Account balance falls below €3,000 the Bank reserves the right to pay a lower rate of interest.

4.7 If an account is debited or credited to your Account in error by the Bank, the Bank may make any necessary correcting entry on your Account without the need for your approval.

5.1 You may avail of a 'Cooling Off Period'. No charge will apply if, within 14 days of the Account opening date, the Account is closed at your request. The standard rate of DIRT (currently 25%) will apply.

6.1 To ensure compliance with its obligations under law and regulations concerning the prevention of money laundering and terrorist financing and to comply with taxation requirements, you may be required to produce to us satisfactory evidence as to your identity, current permanent address, the source of the funds lodged or proposed to be lodged to the Account and your PPSN/Tax reference number.

7.1 In order for Non-Resident personal account holders to avail of an exemption from D.I.R.T., a minimum balance of €6,500 must be maintained at all times. Where the account balance falls below the minimum requirement, the Account will be subject to D.I.R.T. The Bank shall advise you in writing in event of this occurrence.

8.1 This agreement is governed by Irish Law and all disputes will be resolved exclusively in the Courts of Ireland.

9.1 We reserve the right at all times to introduce new terms and conditions or to vary or amend existing terms and conditions by giving at least 14 days notice thereof to you by whatever means we, in our discretion, deem appropriate. In such circumstances you shall be free to terminate this Agreement with us.

9.2 Notwithstanding the above, we reserve the right to vary these Terms and Conditions, without notice, if there is any relevant material change in the prevailing legal, tax or regulatory conditions.

9.3 Any reference to legislation or tax in the foregoing Terms and Conditions is accurate as of the time of publication and are subject to change.

10.1 No time or indulgence that we may extend to you or any waiver by us of any breach of any term or condition of these Terms and Conditions shall affect our rights and powers hereunder.

11.1 You shall hold us harmless from any loss or damage suffered by any person as a result of your breach of any of these Terms and Conditions.

12.1 Each provision of these Terms and Conditions is severable from the others and if at any time any one or more of such provisions, not being of a fundamental nature, is or becomes illegal, invalid or unenforceable, the validity, legality and enforceability of the remaining provisions of these Terms and Conditions shall not in any way be affected or impaired.

13.1 Subject to Clause 4.2, either party to this agreement may terminate it at any time on notice to the other party.

The Golden Years Deposit Account (the "Account") is offered by The Governor and Company of the Bank of Ireland (the "Bank" or "Bank of Ireland"). The principal business of the Bank is the provision of financial services. The Bank's Head Office is at Lower Baggot Street, Dublin 2. The registered number of Bank of Ireland in the Companies' Office is C-1 and the Bank's VAT number is IE8Y42002P.

If you wish to contact the Bank in connection with the Account, please write to the Bank of Ireland branch where you opened the Account.

Bank of Ireland is regulated by the Financial Regulator.

The financial service being supplied by the Bank is a Golden Years Deposit Account. A minimum lodgment of €3,000 is required to open the Account. After the initial lodgment is made you may lodge an additional 25% of the original sum invested to the Account within 30 days of the opening date. The rate of interest applicable to the Account is a fixed rate and will be set on the day the initial lodgment is made to the Account. If your Account balance falls below €3,000 the Bank reserves the right to pay a lower rate of interest. Full details of the interest rate applicable to the Account are available from any Bank of Ireland branch.

Interest will be paid at the end of the term. The term of the Account is 6 months. Unless we receive instructions from you on or before the final day of a term, your Account shall be renewed on the day after the expiry of the term at the then prevailing fixed rate and shall continue to be subject to the terms and conditions of the Account.

You must lodge a minimum of €3,000 to open the Account. Only cleared balances may be withdrawn. One withdrawal of 25% of the cleared Account balance may be made during the term without incurring a charge. A charge will apply if further withdrawals are made before the end of the Term. Details of how this charge will be calculated are included in the terms and conditions of the Account included herewith.

Interest shall be paid after the deduction of Deposit Interest Retention Tax ("DIRT"). The current rate of DIRT is 25% but is subject to change. Currently there are no other taxes applicable to the Account but this could change.

You may cancel the Account under the European Communities (Distance Marketing of Consumer Financial Services) Regulations, 2004 within 14 days of the opening of the Account by sending a notice in writing to your local Bank of Ireland branch. Any credit balance in the Account at the date of cancellation will be returned to you.

You may close the Account early at any time by sending a notice in writing to your branch. A funding fee may be payable in these circumstances; information as to how this fee will be calculated is included in the Account terms and conditions.

The Account will be governed by and construed in accordance with the laws of Ireland, and the courts of Ireland shall have exclusive jurisdiction to resolve any disputes in connection with the Account.

The English language will be used for the purpose of interpreting the terms and conditions of the Account and for all communication in connection with the Account.

If you wish to make a complaint you may do so by writing to the branch of Bank of Ireland where you opened the Account. In the event that you are not satisfied with our response, you may make a complaint to the Financial Services Ombudsman by writing to the Financial Services Ombudsman, 3rd Floor, Lincoln House, Lincoln Place, Dublin 2.