Regular savers surge at Ulster Bank

- 50,000 Regular Saver Accounts now open –

- More than 650 accounts opening each week -

Figures issued by Ulster Bank today have shown a surge in the number of customers saving regularly across the Republic of Ireland. Over the last 6 months the Bank has seen an increase of over 50% in the number of regular savings accounts opened, with customers saving €445, on average each month.

“We have been pleasantly surprised by the response from customers to develop their savings habits. At a time when bills are rising and incomes are being stretched it can be difficult for people to plan for their futures, but we are delighted to see that more than 50,000 of these accounts have been opened, reflecting the demand for a flexible savings product”, said Jim Ryan, Managing Director, Branches, Private Banking and Advice RI at Ulster Bank.

"Listening to customers, we designed an innovative account that provides the comfort of instant access, the freedom to change the amount saved each month and a rewarding rate, whether you can save €1 or €1,000 each month. It really is a simple way to start saving for the future." Jim continued.

Regular savers can earn 4% interest (Gross / AER) with the Special Interest Deposit Account on balances up to €15,000.

Ulster Bank’s Regular Saver Special Interest Deposit Account was launched in April 2010. Since then more than 650 accounts per week have been opened making it one of the most popular savings products launched by the Bank.

Both new and existing customers can open a Special Interest Deposit Account at any Ulster Bank branch, online at www.ulsterbank.ie/savings or over the telephone on 1800 303 004.

Further information on the full range of savings accounts available from Ulster Bank can be found at: www.ulsterbank.ie/savings or at any Ulster Bank branch.