Protocol is correct - watch term and conditions on regular savers as they vary with different institutions. A person could put quite an amount away now on a monthly basis with interest of 7%.
(1) AIB maximum of €300 per month @ 7.10%
(2) Anglo Irish Bank maximum of €1,000 per month @ 7%
(3) Halifax maximum of €750 per month @ 7%
So one could save €2050 per month @ average of just over 7%. Include the spouse and double it. Some will allow a third account (joint). However remember all liable to DIRT at 20% so money into the pocket would be 5.6%. Still quite good for maturing SSIA's but again it is necessary to stress watch the terms and conditions with each institution.