Savings rates

FIXED-TERM bond rates have soared to a two-year high. The average one, two and five-year bonds now pay 1.32pc, 1.55pc and 2.14pc respectively. Atom Bank, which requires savers to run their account via a mobile phone app offers a top one-year rate of 2.05 pc. Birmingham Midshires pays 2.35 pc for three years. Secure Trust Bank’s five-year bond pays 2.67 pc.