Skipton Building Society has billed its new 5 year 2 percent fixed rate bond as the 'best rate on the high street'.
The account which is launched today (25 January) has a minimum investment of £1 and a maximum of £1m and is available online and via the post.
It is also launching a new 90 day notice account paying 0.70 per cent, and a limited edition eSaver priced at 0.65 per cent which offers multiple withdrawals, as well as increasing the rate paid on its ISA Saver to 0.65 per cent.
Kris Brewster, head of products at Skipton, said: “We are delighted to be able to offer the best rate on the high street."
Tony Catt, freelance compliance consultant at Tony Catt compliance services, said while the two percent rate did not sound great such low yields are the norm now.
"There is not any real pressures for interest rates to go up in the foreseeable future, with the amount of debt in the country it would cause a lot of problems," he said.
