Hard pressed depositors may be attracted by a new four-month, fixedterm deposit rate available from National Irish Bank. It is offering interest of 5 per cent per annum on amounts of £15,000 to £100,000 for a limited period. The account is called the Euro Countdown Deposit and is intended to provide a guaranteed rate of interest to customers during the transitional period surrounding the introduction of the euro on January 1st next. With interest rates expected to drop further in the run up to the introduction of the new currency, the account gives investors the opportunity to lock into this rate of interest.

NIB customers who have tailored home loans can also avail of the deposit, and will need a minimum £5,000 to qualify for the rate.