First Active has announced three new products which may be of interest to hard-pressed savers. They include a savings account linked to Prize Bonds, a 14-day notice account and a longer term investment account that matures with the introduction of the euro as legal tender in the Republic in 2002.

The Surprize Bond Account offers customers an opportunity to save their money and participate in potential gains from the National Prize Bonds draws. This account can be opened with a minimum of £25 and for every £100 saved a Prize Bond number is allocated to the balance. Account holders are allowed a maximum allocation of 50 Prize Bonds on any particular account.

First Active has also introduced a short-notice deposit account for withdrawals of 14 days, which is significantly shorter that the typical 30- and 90-day notice accounts which tend to offer a better rate of return for savers. Depositors with more than £100,000 can earn a gross rate of interest of 4 per cent with interest rates falling to 3.5 per cent for sums of between £3,000 and £49,999. The rates include a bonus rate of 0.5 of a percentage point until April 30th.

First Active's euro term account is a three-year term account offering a gross return of 11 per cent. Savers must deposit a minimum of £5,000.