"A few months ago no new brand would have been able to dip its toe in the savings pond, however Rothschild's two year fixed rate deposit account at a high 4.35per cent AER, brings some welcome competition to the market for those with a £20,000 deposit.

"We have seen a flurry of providers introducing two year fixes and customers who can lock in their money for this period of time can benefit from the high rates available. However, people should avoid locking in for longer than two years as they run the risk of missing out on higher rates when the Base Rate increases.

"Consumers who have spare cash to put away in the Rothschild account should move quickly though, as it will only be available until 24 June. Rothschild is a member of the Financial Service Compensation Scheme, meaning savers are 100 per cent covered for up to £50,000."

By moneysavingsupermarket.com

The Price Comparison Site

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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