While some will be included in documents, Mr Lenehan said others might be hidden, such as admin or management fees, which may eat into a person’s returns.
He added: “You can’t make an informed savings decision if you don’t know what fees are being charged and you certainly don’t want to be left out of pocket with your investment.
“Therefore, make sure you read all the T&C’s and small print in your documentation to identify any random or ad-hoc charges that may not be clearly displayed.”
Finally, those who are starting to save should consider cooling off and cancellation periods.
It is often the case someone wants to change their mind with regards to a savings product, but in some cases this could incur a hefty fine.