SSIA savers urged to shop around for best interest rates

The Financial Regulator is urging SSIA holders to shop around for the best interest rates if they decide to build on the savings habit.

More than €15bn has been paid out in recent months as part of the SSIA scheme, but the regulator says much of it remains in current accounts earning interest of less than 1%.

She says savers can get significantly higher rates if they shop around for the best product on offer from the various financial institutions.