Putting your savings into a fixed-rate bond is a great way of getting a good interest rate. Anyone who locked up their cash a few years ago will have been enjoying great rates of return compared to what is on offer now. But make sure you know the terms and conditions of your bond and most importantly, when it matures.
When most bonds mature, providers move the balance into standard easy-access savings accounts, which tend to pay highly uncompetitive interest rates. So if you aren't on the ball and don't move your money to an account with a better interest rate, you could lose up to £1,000 a year in interest, reckons Moneysupermarket.com.
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