The Bank of England base rate was held for the first time in nearly two years last month, after 14 consecutive hikes
“The Bank of England has halted its run of consecutive Base Rate rises, and some savings providers have already started cutting their savings rates.
"But with the launch of our new 5 year bond, with a high 5.25 per cent rate, we are giving customers the opportunity to lock in this rate for the long term.
"It’s another example of Skipton offering value for the long term.
“We know fixed rate accounts to the tune of £15billion are due to end and mature in November, so for those savers – and any others who can put some of their cash away for a fixed term – our new 5 Year Bond gives means they can prolong the lofty savings rates we’re experiencing right now for the next half-decade.”