Boost for savers as Atom launches market-leading 2% two-year savings account

Savers have been given a boost after Atom Bank launched a market-leading two-year fixed account offering 2%.

App-only Atom Bank today unveiled its latest fixed savings rates, meaning it's now a best buy for one, two, and five-year savings, and joint market leader on a three-year fix, in our Top Savings Accounts guide.

Atom is a challenger bank – it doesn't have any high-street branches and operates via an app, which is available on Android or iPhone.

Atom unveiled the first of its fixed savings products last year and has since launched a range of mortgages. It hit headlines in April by offering a record-low 1.29% five-year fixed mortgage, though this only lasted a week.

What new deals has Atom launched?

Here's a full rundown of what Atom is offering:

• One-year-fix – 1.8% (next best, Kent Reliance at 1.7%)
• Two-year fix – 2% (next best, Secure Trust Bank at 1.85%)
• Three-year fix – 2.2% (joint market leader with NS&I)
• Five-year fix – 2.4% (next best, Paragon Bank at 2.25%)

See Fixed savings accounts for full details on how the accounts compare.

With all four Atom accounts, interest is paid annually or monthly. There's a minimum deposit of £50. You can save up to £100,000 across all Atom bonds, though only the first £85,000 is protected under the Financial Services Compensation Scheme.