The boost from next month comes as analysts warn the peak in savings rates may be approaching.
Savers have been offered much better rates than they have for years, but the buying-power of their pot of money has been diluted by rising prices in the shops.
For a one-year fixed bond, the top rate was 1.36% a year ago for those saving more than £1,000, but is now 4.33% for those saving more than £5,000.The rate of inflation is predicted to slow significantly by the end of the year, which means that activity in the savings arena is starting to diminish. She pointed out that Bank of England figures showed there was £268bn in accounts that did not pay interest - usually bank current accounts - so it was still advisable for people to shop around to get better returns for any spare cash, especially as prices were still going up.
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