Hodge Bank has boosted the interest rate on its two-year fixed savings account to 4.6%, earning an “excellent” Moneyfactscompare rating.

Savers need a minimum deposit of £1,000 to get started and up to £1million can be invested overall.

Fixed-rate accounts enable savers to lock their money away for a set period at a fixed interest rate. They’re best for those who can afford to leave their money untouched for a specific term and want guaranteed returns. These accounts often also offer…