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Savings rise by 10pc

THE average Irish saver is stashing away €3,303 a year, a 10pc increase on last year's levels.

The EBS consumer savings sentiment research found 78pc of people are saving whenever possible, although most do not have a dedicated savings plan.

While the average amount saved is on the rise, there has been a general 6pc decline in the number of savers since the peak of 84pc in July.

Richard Kissane, savings manager with EBS, said people should shop around, as banks are offering special rates to lure savers, adding: "What is encouraging is that Irish people continue to have a very positive attitude towards saving."