All change in top savings rates

The UK's top savings rates have reached a 12-month high as competition intensifies in the fixed-rate bond market.

The rates on fixed-rate bonds over terms from one to five years have all risen in recent weeks, as have the average rates on tax-free individual savings account (Isa) bonds, according to

The average one-year fixed-rate bond currently pays 3.47 per cent, up from 2.95 per cent last June, while the average rates on the top five Isa bonds are at the highest since March 2010.

However, the rates on easy access savings accounts have fallen back from a recent 18-month high after the best deals were withdrawn in response to heavy demand.