Financial institutions have reported a torrent of last-minute applications for the Government’s special savings incentive accounts.
The deadline for participation in the scheme expires at the end of this month. Under the SSIA scheme, people who lodge a fixed sum of money each month for five years will get a 25% top-up from the Government along with the interest on the savings.
Friends First marketing manager John Cunningham said: "It is money for nothing . . . I don’t think we’re going to get that chance again."