As hopes for an early rate rise are dashed here are the best fixed-rate bonds to put your savings into until rates climb

By Sylvia Morris for Money Mail

Published: 19:24 EST, 4 November 2014 | Updated: 04:27 EST, 5 November 2014

With hopes for an early rise in interest rates dashed, savers can earn 1.9 per cent fixed for a year with the new bond from Kent Reliance out today.

BM Savings and Aldermore have brought out new one-year deals at 1.75 per cent. But this is only slightly up on the top easy-access account at 1.6 per cent including a bonus for the first year from BM Savings.

You will earn just £24 extra on £10,000 saved after tax - £2 a month - for tying your money up for a year instead of keeping it on easy access.

Yorkshire BS pays a slightly higher 1.9 per cent fixed until March 31 2016 while State Bank of India pays 2.25 per cent for two years.

Savers aged 65 and over by next January should keep some money back to put into the new bond due from National Savings & Investments which is expected to pay 2.8 per cent for a year.

Top rates on fixed-rate cash Isas are slightly lower than the rates before tax on fixed-rate bonds. The top one-year deal comes from Post Office at 1.7 per cent tax-free for a year while Tesco Bank pays 1.65 per cent.

For two years you can earn 2.1 per cent with Virgin Money or 2.02 per cent with Barclays and 2 per cent with both AA Savings where the deposit taker is Halifax and Skipton BS.

Make sure you are happy to tie up your money. Some won’t let you touch it at all during the term. Where they do, you may face a stiff penalty which can be as high as six months’ interest on a two-year bond.