Banks and building societies have been launching new accounts paying 3 per cent or more, which also give you access to your money at any time.

Mansfield BS has raised the rate on the new issue of its Postal Premium 4 3rd Issue to 3.2 per cent before tax (2.56 per cent after tax). It makes it the top-paying easy access account.

The rate is boosted by a 1.2 (0.96) percentage point bonus paid for the first 12 months you are in the account. But you are limited to making just four free withdrawals in the first year. If you make any more than you lose 30 days’ interest on the amount you withdraw.

BM Savings, part of HBOS, has a new Online Extra account paying 2.6 per cent (2.08 per cent) including a bonus for the first year on sums of between £1,000 and £20,000.

At £20,000 the rate rises to 3 per cent (2.4 per cent) and 3.2 per cent (2.56 per cent) at £50,000. The rates are all boosted by a fixed-rate bonus. Once you have been in the account for a year the rate drops to just 0.5 per cent (0.4 per cent).

Skipton Building Society's Online Bonus account pays 3.05 per cent (2.44 per cent) including a 1.55 (1.25) percentage point bonus for the first year.

There are no withdrawal restrictions on the BM and Skipton accounts.