this week we have a new best interest rate for a 1 year fixed term savings account. It's from Newcastle Building Society and they're offering 3.55% there's more information over here:
Newcastle Building Society - Savings


Newcastle Fixed Rate Options Bond (Issue 61)

Up to 3.55% Gross*/AER** Watch your money grow in a market leading one year fixed rate savings account

If you want a fixed return on your investment, a fixed rate bond could be just what you're looking for. With the Newcastle Fixed Rate Options Bond (Issue 61), you'll get a competitive savings interest rate that's fixed until October 2012 so no matter what happens, you'll still get a great rate on your savings and have a guaranteed return to look forward to.
This fixed rate bond is ideal for customers who want a market leading short term fixed rate on their savings.Withdrawals from this bond are not permitted, so you should think carefully before investing.
Choose to have monthly interest

This fixed rate bond lets you to choose how you'd like your savings interest to be paid. You can opt for monthly interest or to have it paid annually.
Is this account right for you?

Once you have carefully read the terms and conditions, if this account sounds right for you, simply complete the secure online application form below. Once the account is opened the account can be operated by post or in branch with a passcard.
Applying online? Before you start...

It's easy to apply online but before you start the application and to make the whole process as smooth as possible, please make sure you have to hand your driving licence or passport as the number from one of these documents may be required as proof of identity.
You should also have to hand the sort code and account number of the bank/building society account you wish to nominate to allow you to manage this account.

*'Gross' interest is the contractual rate of interest payable before the deduction of income tax.
**'AER' stands for the Annual Equivalent Rate, a notional rate which illustrates what the interest rate would be if paid and compounded on an annual basis.