For those planning a quick sale of their Telecom Eireann shares, banks and building societies around the Republic are scrambling to offer a variety of both savings and investment options for the money which is released.

These range from special term deposit accounts to equity market linked products.

EBS is offering a range of options including a fixed-term deposit account with a guaranteed return of 3 per cent after six months or 3.5 per cent over twelve months for those with over £10,000 to invest.

For the smaller customer, EBS Invest Direct offers a 3.2 to 4.25 per cent return on amounts from £3,000 up to a limit of £500,000. Their Summit Funds offer unitised equity and gilts investment options for the more adventurous over a three to five-year period with a lower limit of £3,000.

For people who are looking for a short-term home for money raised from Telecom, Bank of Ireland is offering customers the option of depositing their funds for just three months in an investment advice account. They will earn a fixed rate of 2.5 per cent per annum on sums between £3,000 and £25,000 and 2.75 per cent on amounts between £25,000 and £250,000. As reported in yesterday's editions, Bank of Ireland Asset Management is also offering the option of transferring Telecom shareholdings of over £3,000 into its range of mutual funds.

Meanwhile, Irish Life and Permanent has offered five investment options under the Scope products range, requiring an investment upwards of £2,000 and timed to coincide with the flotations. The most popular of these has been "Telescope" which links investments to telecom companies around Europe. According to Mr Diarmuid Bradley, head of corporate strategy at Irish Permanent, it has attracted around £5 million in investments each week since its launch four weeks ago. The initial return had been good, he said.

Also available at Irish Permanent is a new deposit account in the form of a capital secured bond, with a minimum investment of £1,000 which runs for two years and offers a return of 7.12 per cent.

Next Wednesday, Trustee Savings Bank will launch a new risk-free fixed-rate deposit account which will give a guaranteed 4 per cent return over nine months on amounts between £2,500 to £100,000.

Yesterday, First Active launched a Telecoms Tracker Bond linked to the performance of eight European telecommunications companies, offering four investment options with different levels of risk. The minimum investment is £3,000 over the term of three-and-a-half years, with customers having the choice of risking anything between 25 per cent (75 per cent secured) and 100 per cent of their investment with a variety of potential rates of return.

AIB is offering a shielded index-linked bond which protects the investor from losses of over 18 per cent and offers a maximum return over the 18-month period of 18 per cent. The bank is also offering a tracker bond and a number of other investment options.

For people interested in investing in the property market in Ireland or the United Kingdom, Norwich Union is launching two new commercial property funds on July 21st to enable investors to enter the fray. Mr Ian Veitch, marketing manager, said that they are intended to give Irish investors an avenue into the attractive UK property market which up to now has not existed. The minimum investment needed is £5,000 over a suggested term of three to five years.

Ulster Bank is offering two products aimed at the flotation money market, with a protected capital bond for investors with £5,000 or more to spare and a new three-year dividend bond for those willing to invest £25,000 offering an annual dividend of 6.25 per cent gross.

On an ongoing basis, National Irish Bank offers an on-demand supersaver deposit account offering a return of 3 per cent on amounts over £25,000 or 2.75 per cent in the £5,000 to £25,000 range.