Skipton Building Society is today relaunching its fixed term savings accounts including reintroducing medium and long term fixed rate bonds and ISAs.

With uncertainty over interest rates and the prospect of a negative rate, Skipton is offering savers one, two, three and five-year terms to help people lock in their savings with a guaranteed rate.

The society’s one, two, three and five-year bonds offer 0.70 per cent, 0.80 per cent, 0.90 per cent and 1.00 per cent, respectively, and are available online, in branch, by post or telephone.

Skipton’s new fixed rate ISA range includes one year ISA at 0.60 per cent, two year at 0.70 per cent, three year at 0.80 per cent and five year at 0.90 per cent. ISA accounts can be opened online, in branch, by telephone or by post.

Customers can deposit the annual ISA limit of £20,000 into Skipton’s fixed rate ISAs. ISAs are an ideal way to stop the taxman eating away at savings and can be used in addition to the Personal Savings Allowance which allows basic rate tax payers to earn up to £1,000 in interest before paying tax.

Maitham Mohsin, Skipton’s head of savings, said: “We’re delighted to once again offer bonds and ISAs with a guaranteed interest rate over the medium and long term. As savers seek good value products in the low-rate environment we are pleased to offer the security of longer term deals alongside our easy access accounts.",

To find out more about Skipton's savings accounts, visit skipton.co.uk.