Expat rates: live with uncertainty and be ready to pounce The best two-year fixed rate is now Permanent Bank's 2.32pc on £20,000, very closely followed by Co-operative Bank's 2.31pc on just £5,000. As the rates on one- and two-year fixed-rate deals are so close, it seems sensible to opt for the shorter period in the hope that things will change over the next 12 months. Indeed, there is little rate advantage in opting for a three- or even a five-year fix over a one-year deal at the moment. The best three-year fixed rate is Permanent Bank's 2.3pc on £20,000; less than the same bank pays over two years and just 0.05 of a point more than the best one-year fixed-rate deal. And while it might seem topsy-turvy, five-year fixed rates are actually lower than those for two or three years. The best five-year fixed-rate deals are paying the same rates as the top one-year fixed-rate deals - making them surely unattractive to all but the most interest-rate-pessimistic saver. Hindsight is a wonderful thing, but if you did fix your savings last year for a five-year period at more than 4pc - and this was possible up until the late summer - then you will be feeling very clever now. The top five-year fixed rate - again from Permanent Bank - is now just 2.25pc. While fixed rate savings might be unattractive at the moment, there will still be plenty of savers who like the certainty they offer, particularly if they depend on their savings to boost their income. And there will be plenty of savers on the hunt for good fixed-rate deals at the moment, including the last of the AIB International savers whose accounts - both fixed and variable - were closed down and their money repaid last month. However, if you can bear the uncertainty, it's probably a good idea to leave your money parked in a good variable-rate account at the moment - and be ready to pounce if decent fixed-rate deals do come along. Both the Britannia International and Nationwide International easy-access accounts (2pc and 1.9pc respectively) are good deals. Notice accounts are less attractive - you lose the ability to move your money quickly to a new deal because you have to give notice or surrender interest when you withdraw funds. And the rates are not that much better than easy access: Britannia International has the best deal at 2.25pc for 60 days" notice on £50,000 - so you get an extra quarter point interest for giving up the freedom of easy access. In money terms, if you had £100,000 the difference is £250 over a year. The aforementioned Investec Bank (Channel Islands), which has the current top one-year fixed-rate deal, may be a new name to some savers. It is part of international bank Investec which is listed on the London and Johannesburg stock markets and has been around since 1974. Its current market capitalisation is around £3.6 billion. Charlotte Beugge's 'Expat Rates" column and Liz Phillips" 'Forex Focus" columns will now be appearing fortnightly