Beehive Money’s fixed saver can be opened with £500 and interest is calculated daily and applied to the balance annually on February 14. Like the rest of the fixed savings accounts, early access is also not permitted.
Rachel Springall, finance expert at Moneyfacts, said: “Savers looking to grab a top rate will need to act quickly as some of the best returns on short-term fixed rate bonds have fallen in recent weeks.
“Table-topping brands have cut the rates on offer to adjust their market positions, leading to further cuts from other brands. Unlike the period of vigorous rate rises just a couple of months ago, providers have slowed this pace with some withdrawing deals in the space of a few days.”
