Savings bonds interest rates rise

Consumers can now get savings bonds with interest rates of over three point eight per cent, nearly one per cent more than in March.

There are a total of one hundred and four savings bonds on the market offering over four per cent, while a further eleven have rates over five per cent, data from Moneyfacts shows.

The research also showed that the average rate on a five-year bond is over four point three per cent and four point one per cent on a four-year savings bond.

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