Financial institutions are expecting a flurry of interest in the Government-backed Special Savings Incentive Accounts (SSIAs) from September when they begin their new advertising campaigns. Most financial institutions reported interest dipping over the summer but stress they have not been advertising their SSIA products over that time.

Against the trend, ACCBank reported strong demand for its deposit SSIA throughout the summer. The bank has extended its guarantee to pay savers the European Central Bank interest rate. Savers who open deposit accounts before the end of the year will now get the ECB rate.