Where to save €500 a month
AIB's account has a maximum monthly contribution of €300 a month, which will suit someone who wants to keep contributing the €254 sum maximum that they put into their SSIA every month.
For anyone who wants to put aside a little bit more, or say a couple who want to find a joint home for their SSIA-sized monthly savings, Halifax has the higher maximum contribution rate of €750 a month.
But, if you don't like Halifax's terms and conditions, where should you look?
Bank of Ireland's Special Bonus Saver account offers a rate of 6.25 per cent on regular savings. The minimum contribution here is €20 a month and the maximum is €1,000 a month - or double these amounts in the case of joint accounts.
Although the rate is not as high, the account is more flexible than Halifax's.
The next highest rate on regular savings comes courtesy of Anglo Irish Bank, which offers an annual interest rate of 6 per cent to savers putting aside at least €100 a month, up to a maximum of €1,000.
The interest due is credited to the account on the anniversary of the opening.
This account, however, has a term of two years. Early withdrawals will result in the account being closed and the balance transferred to Anglo's Easy Access deposit account, which has an interest rate of 3.5 per cent - not shabby, but not the best deposit rate in the market.
Meanwhile, Permanent TSB has introduced a rate of 5 per cent on amounts up to €25,000 under its 21-day notice account. Regular savings of as much as €1,000 a month can be made up to this limit, at which point the interest rate reverts to 1.5 per cent on the full balance.
AIB current account customers can also contribute up to €1,000 a month to its online savings account, which has a rate of 4.35 per cent and offers a small amount of bonus interest in some circumstances.
). In order to decide what is "best" for you, you'd have to look at and answer the questions raised by CM above. It may turn out that an equity investment is more suitable than a deposit (guaranteed return) investment. Even if you decide you want it guaranteed, you need to investigate the conditions on each account before deciding how much flexibility you want to have and how much interest you're willing to sacrafice to have it.