Three more financial institutions have revealed details of their offerings under the Government Special Savings Incentive Scheme. The interest rate for Irish Permanent's fixed rate special savings incentive deposit account has been set at 4.25 per cent for five years.
The variable rate starts at 4 per cent and is guaranteed to stay within one percentage point of the European Central Bank base rate. The minimum monthly investment is £10 (€12.70) for the variable rate option and £50 for the fixed rate.
The Tusa Save deposit account offers a variable rate of 4.1 per cent, with a guarantee to keep the rate within three-quarters of a percentage point of the ECB base rate. Tusa Invest is underwritten by Irish Life & Permanent with a minimum monthly premium of £70.
The product includes a five-year loyalty bonus of 5 per cent of the total fund value, no exit charges, a 5 per cent entry charge and an annual management fee of 1.65 per cent. Quinn Life's Freeway scheme offers investors access to top performing companies in Europe, the US and the Republic. Of the six funds offered, three will be open to the Government scheme.
There is a yearly administrative charge of 1 per cent for the Euro, Celtic and Euro Bond funds. The three US funds outside the Government scheme cost 1.2 per cent.
There is also a £2 monthly policy fee in the investment schemes. The minimum monthly premium is £40.
