Savers are being advised on options available to them from financial institutions as over 538,000 see their SSIAs mature today.
A new survey by the Irish Financial Services Regulatory Authority emphasises the importance of choosing the best-value savings account for a lump sum investment as it could mean a difference of hundreds of euro worth of interest each year.
With the last batch of special savings incentive accounts maturing this week, this could prove costly for anyone who doesn't do their research properly.
The regulator's survey outlines the best and worst offers available to anyone seeking to buy a new home with their savings rather than spending them on a new car or a holiday.
According to the regulator, the first thing to consider before locking your money away is whether you need immediate access to your savings or if you are happy to provide at least a month's notice before accessing funds.