Spotlight On: Skipton's fixed rate bonds

The deal

Skipton building society has increased the interest rates paid on its one- and two-year fixed rate bonds.

Good points

Interest rates have climbed 0.4 per cent on one-year bonds up to 3.05 per cent. Meanwhile two-year bonds have climbed 0.2 per cent up to 3.2 per cent. Skipton also offers three- and five-year fixed rate bonds, which have not changed.

Bad points

To get those top rates, you'll need at least £50,000. Rates start at 2.85 per cent over one year and 3.05 per cent over two years.

Conclusion

Savings rates are beginning to look slightly more attractive across the market after months in the doldrums and despite the Bank of England keeping the base rate at 0.5 per cent. If you have savings, it may be time to look around for better deals.