The chancellor confirmed in the budget that the government's saving provider, NS&I, will launch a 3 year fixed bond in a few week’s time.
The rate was announced as 2.2% on deposits from £100 up to £3,000.
If you save the maximum amount, you will earn £66 in the first year, and £202 over the full 3 year life span of the account.
Anyone over the age of 16 can open one, and you have a year from this April to do so.
So, how does this compare?
It pays the same rate as the best available on the market, and is from a name many savers will instinctively trust.
If you are looking to stash away more than the £3,000 maximum though, you’ll need to top that up elsewhere.
You can use our savings account search to compare other fixed rate bonds, ISAs and standard savings products.