However, it is possible to get 7 percent interest with first direct for 12 months on savings up to £3,600 a year.
Britons looking to save up to £250,000 might want to take a look at the Chip Instant Access account which takes prominent place in Moneyfacts’ top tables.
Commenting on the deal, Ms Williams said: “Savers who want to be able to maintain access to their savings pot and want an account which enables both withdrawals and further additions may be tempted by the Chip Instant Access powered by ClearBank product.
“Chip has removed the 3.00 percent bonus return and increased the interest rate from zero percent to now pay 3.01 percent gross.
“This mobile-operated account now takes a prominent position in our top tables compared to other easy access accounts currently available. Investors have the choice between holding a fee-free Chip subscription or paying a £4.99 fee per 28-days subscription. Overall, this account earns an Excellent Moneyfacts product rating.”