Cashpoint

Notice accounts are not always the first choice for everyday savers but they could be worth a look for people who don’t mind locking cash away.

Research from data firm Moneyfacts shows eight out of 10 notice accounts pay over the base rate of 0.5%, compared to half a year ago.

The current best buy from Secure Trust Bank pays 1.65% on a 180-day notice account, compared to 1.34% on the best easy access account from ICICI Bank.

Secure Trust Bank (0345 111 7092) also pays 1.55% on its 120-day notice account and 1.45% on its 90-day deal. Paragon Bank (0800 052 2222) offers 1.55% on its 120-day account and Manchester Building Society (0161 923 8065) gives 1.5% on its 120-day account. All are Financial Services Compensation Scheme protected.

Rachel Springall of Moneyfacts.co.uk said: “Savers are expecting to see another base rate rise this year, so may want flexibility to switch savings if rates improve.”