Returns paid on long-term savings accounts have hit their highest level for six months, research by Moneyfacts.co.uk has found.
Figures show that the average rate for five year fixed rate bonds has hit its highest level since July 2011.
Today, savers can get an average rate of 4.14% on a five year fixed rate bond, although they can get even higher rates if they're prepared to look around.
The pleasing news for investors has come about as rates on long-term accounts have been steadily increasing since the back end of 2011.
It is the highest average rate for five year savings accounts since July 2011, when the average rate stood at 4.20%.
But while the rate stands at a half-year high and is improved on the average rate of 4.06% a year ago, it still lags behind the average of 4.56% that was being offered to long-term savers in January 2010.
Many of the best deals currently available are being offered by smaller or lesser-known providers.
"Savers who want to make the most of their money would be wise to research the market thoroughly to achieve the best bond for them, rather than turn immediately to the high street," commented Louise Holmes, spokesperson for Moneyfacts.co.uk.
"The golden rule to bear in mind when looking at long-term bonds is whether they allow early access to funds.
"The majority of fixed rate bonds carry penalties such as loss of interest for those who withdraw funds early, so savers must be committed to locking their money away for the duration of the term."
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