People wanting to open one of the Government-backed Special Savings Accounts have until the close of business tomorrow to do so.
It is estimated that more than a million people will have availed of the offer, at a cost to the Exchequer of over €1 billion.
The offer will see the end to possibly the biggest giveaway ever in the personal savings market. Under the Special Savings Investment Accounts scheme the Government will give savers €1 for every €4 saved.
Savers have to sign up for five years and institutions are offering straight deposits as well as equity-linked accounts.
Industry estimates suggest that 40% of all SSIA's were opened during April.
With deposits averaging €160 a month, SSIAs could build a total nest-egg across the market totaling billions. This could create a very big spending splurge in May 2007.
