Post Office increases account and bond interest rates

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Interest on the Post Office's Reward Saver account has been increased to 2.75 per cent annual equivalent rate.

This rise includes a one per cent bonus AER over the first year.

Increased rates have also been applied to the group's one, two and three-year growth bonds.

A rate of 2.9 per cent is now offered on the one-year product, which rises to 3.65 per cent and four per cent respectively on the two and three-year bonds.

Director of savings and investments at the Post Office Richard Norman said: "We are dedicated to giving our customers the best possible value as well as great choice."