Digital-only functional Atom Bank is offering a one-year fixed-rate bond paying a market-leading 2 per cent.
This is destroying a bomb under today’s savings market, with the second-best one-year handcuffs from Secure Trust Bank paying just 1.61 per cent.
Back expert at MoneyFacts.co.uk Charlotte Nelson said there is some meet up with at the end of the tunnel for patient savers: “This is the first time in 10 months that a one-year fixed-rate has hit 2 per cent.”
Atom also satisfies 2.10 per cent fixed for two years, well ahead of nearest challenger Masthaven, which gives 1.67 per cent over 30 months.
Over three years Atom pays 2.2 per cent and 2.4 per cent terminated five years.
Nelson said there were 53 fixed-rate tie rate rises in February, as other challenger banks battled to do their mark, although the big banks continue to disappoint.
“Savers would be warn of to act sooner rather than later,” she added.
Atom will on the other hand suit tech-savvy savers who can download its mobile banking app, from Apple and Android Do stores.
Head of customer propositions Clare Framrose said: “Being purely digital, we can quaint on our lower costs to savers.”