New analysis shows that notice savings accounts have reached their highest rates since 2016.

Due to the restrictive nature of notice accounts, they aren't often people's first choice. However, many savers are finding that the more restrictive the savings account the more they can earn, as competition among providers has bolstered rates by up to 30pc in the last year.

Easy-access savings accounts typically offer a much smaller sum, with 1.3pc currently standing as the top rate from RCI Bank and Virgin Money.

This pales in comparison to Secure Trust Bank's 90-day notice account, which now offers 1.55pc, according to Moneyfacts. The same bank's 120-day notice account pays a top rate of 1.65pc – the highest rate on offer since June 2016.

Rates are only set to rise, as experts suggest better deals could be around the corner.

If you need advice on the best ways to save, take a look at our savings and investment services, or get in touch with us to speak to an adviser.