Bank of Ireland to extend 25% bonus scheme for savers

7th February 2006
By Staff Writer

Finding that 80% of customers intended to continue saving after its SSIA scheme ended, the Bank of Ireland has said it will continue the 25% bonus for six months on continued regular savings into its equity investment option.

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The offer is available to those who invest half of their SSIA lump sum into its Special Bonus Investment Plan and continue to save for an additional three years.

Guided by its research findings, the bank is also launching new product options for SSIA funds, including a new deposit account, The Special Bonus Saver Account, which it claims will pay 3.75% on new regular savings. A 2-Year Bond and a Special Term Account are further product offerings launched by the bank.

Ronan Headon, head of savings at Bank of Ireland said: "These products offer unrivaled choice and we believe that there is going to be serious interest from customers and non-customers alike, particularly in our Special Bonus Investment Plan that will apply the 25% bonus for a further six months.

"Our research has shown that many customers who switched from equity to cash early in the scheme now regret this decision and the strong performance of equities markets to date has created a real appetite for this type of investment option."

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