Act fast to bag a better bond: Handful of banks return to the market after long absence
Deal time: Rates on short-term bonds have improved
Rates on short-term bonds have improved as a handful of banks are returning to the market after a long absence.
But savers should grab the deals while they can, as they are unlikely to be around for long.
Yesterday, Atom Bank raised the rate on its one-year fixed-rate bond to 0.85 per cent, while Shawbrook improved its deal to 0.75 per cent.
At the start of May, the best rate was 0.63 per cent, with the majority standing at just 0.55 per cent.
The new deals are double the best easy-access rate of 0.4 per cent.
The Atom account is available only through its smartphone app, while the Shawbrook Bank bond is online only.