The Co-op offers savers a boost with new fixed term bonds

The Co-operative Bank is offering a welcome boost to savers with newly launched rates on its fixed term deposits.

As a result of the changes, for a limited period, customers will be able to take advantage of highly competitive returns on their savings, including a market-leading rate of 3% AER on the bank's new 3 year Fixed Term Deposit.

Available from Tuesday 19th February, details of the new rates are as follows:

Product - On maturity rate (AER)%

3 Year Fixed Term Deposit 3.00%

2 Year Fixed Term Deposit 2.50%

1 Year Fixed Term Deposit 2.31%

Zack Hocking, Head of Savings at The Co-operative Bank said: "We know that it's been difficult for savers to find a decent return on their money in recent months. We truly want to offer customers an alternative in high street banking and hope that these rates offer savers a welcome boost when they need it most."

"As well as highly competitive returns, customers who choose to save with us can bank on award-winning customer service and the assurance that their money will be invested responsibly. We'd encourage savers to act quickly to take advantage of these competitive rates."

Customers can open a fixed term deposit with a minimum balance of £1,000 by visiting co-operativebank.co.uk/savings.