Bank of Ireland has joined the battle for savings customers by offering a deposit rate of 6% from Friday to new regular savers with its Special Bonus Saver Account.
The bank says the 6% rate is a response to the significant numbers of maturing SSIA holders who are continuing to save. It will increase in line with European Central Bank interest rates, says the bank.
The rate is available to all customers who sign up to the new account. They must save between €20 and €1,000 a month. AIB and Bank of Scotland Ireland have also offered rates of 6% or more for regular savers.
Bank of Ireland says 60% of its matured SSIA customers have kept up regular saving, while 84% are saving some or all of their lump sum.
