A frenzy of rate rises came last week as new banks began competing in earnest for savers’ money. On Thursday, Charter Savings Bank increased the rate on its one-year fixed-rate bond to 2.05 per cent. The new 2.05 per cent rate is well above the top easy-access deals of 1.2 per cent from Zopa and 1 per cent with Goldman Sachs’ Marcus. If you do opt for a fixed-rate bond, avoid the big banks. The big banks have passed on little of the 0.65-point rise in base rate since December.

Source: Daily Mail April 27, 2022 03:40 UTC