Postbank has launched a new savings product that offers savers a rate that grows as their savings grow.

Postbank is a joint venture between An Post and Fortis Bank and is available in over 270 post offices.

It says that with no minimum balance and no fixed term, its premium saver account offers customers up to 4.3% on balances up to €1m. Customers have instant access to their savings.

Meanwhile, Ulster Bank said today that 100,000 customers across the island of Ireland opened a current account with it in 2007.

The bank said it was relaunching its €150 cash incentive offer to customers who switch to an Ulster Bank current account. The offer starts tomorrow and runs until March 21.