Postal bond gets rate hike

CHARTER Savings Bank has raised the rate on its one-year fixed-rate bond to 1.98 pc for new savers.

Unusually, savers can apply for bonds through the post as well as online with the new bank.

Those who tie up their money for 18 months can earn 2.03 pc. Charter also offers monthly income at 1.96 pc and 2.01 pc respectively.

Atom Bank has also raised its one-year rate to 2.03 pc. You open and run the account through an app on your phone or tablet.

In the High Street, Tipton & Coseley’s one-year bond at 1.6 pc, available through its limited branch network, is one of the best deals.

Metro Bank pays 2 pc through its 50-plus branches or online.