Savers looking for fixed rate bonds need to act fast as the average bond shelf-life fell to a new low last month, Moneyfacts.co.uk has claimed.
According to the financial information providers, the average shelf-life of a fixed rate bond was just 23 days last month, compared to March 2006 when the figure stood at 158 days.
Commenting, Michelle Slade, spokesperson for Moneyfacts.co.uk said: "The demand for fixed rate investments continues to increase as savers look to maximise returns.
"Such high demand means that bonds are being fully subscribed quickly, causing providers to pull many of the most competitive deals and replace them with new issues."
According to further research by Moneyfacts.co.uk, 34 per cent of all savings internet searches are for fixed rate bonds, and the average amount invested now stands at £40,076.
And, as the maximum available interest rates on fixed rate bonds have fallen from 6.70 per cent to 3.95 per cent over the last year, savers are advised: "If you want to secure the best deal, then act fast."
Click to compare leading fixde rate bonds »
© Fair Investment Company Ltd