The Co-op boosts fixed term savings rates by up to 0.7%

The Co-operative Bank is increasing savings rates across its range of fixed term deposits and bonds by up to 0.7% this week, and will be offering a leading branch based rate for savers.

The one, two and three year Fixed Term Deposits (FTDs) will now offer a higher rate of interest for savers. This is an increase of 0.7% for a term of 1 year, and an increase of 0.5% for 2 and 0.4% for 3 year terms.

"We're always looking for ways to offer customers a different choice in the market than the other providers and our increased rates are another way we're setting ourselves apart. At a time when many savings providers are cutting rates we believe these changes will help savers to find a new home for their money," said Zack Hocking, Head of Savings at The Co-operative Bank. "Customers can also bank on market leading levels of customer service and rest assured that their money will be invested in line with the Co-operative Bank's socially responsible principles."

Available from Friday 15 June, the fixed term savings accounts will be available in all 342 branches of The Co-operative Bank and Britannia. Savers can also open the accounts by simply downloading a form online with Britannia or requesting one by phone.