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Savers may be looking around for a better deal as many interest rates have dropped after the Bank of England reduced the base rate again. The central bank dropped the base rate from 4.25 percent down to the current 4 percent. Those who want to keep their savings readily available may want to stick with an easy access account.

The current top-paying easy access account at the time of writing, according to moneyfactscompare.co.uk, is with Chip. But customers should note this is a boosted rate and only lasts for three months.

Once the three months is over, the rate drops to 2.74 percent. Only new customers will qualify for the boosted rate, so if you have previously had an account with the group, you won't qualify for this.

Other top-paying providers have similar rules. Chase offers a bonus 2.25 percent rate on top of its standard saver rate, which is currently 2.5 percent, meaning you would get 4.75 percent.

But this offer is only for the first 12 months and once again is only open to new customers. Another factor to consider is all these rates are variable, so the rate you get even with the bonus on top could drop.

Many savings providers offer rates of above 4 percent with their easy access savers, which is much better than what you can get with some of the big name banks. For example, Lloyds offers a maximum of just 1.1 percent with its Easy Saver while Barclays pays 1.11 percent with its Everyday Saver.

As interest rates continue to fall, savers may want to look at locking in a rate with a fixed rate account. The top rate you can get is 4.63 percent with Aldermore for six months. Zopa offers 4.31 percent for a six-month term.

Savers should also bear in mind that inflation and the general rise in everyday prices will reduce the real-terms growth of their savings.

Emma Sterland, chief financial planning officer at wealth management firm Evelyn Partners, warned: "While higher interest rates have made cash deposits look relatively attractive compared to the rates available since the global financial crisis unfurled, they have been coming down, and after accounting for inflation, real returns are pretty meagre."

If your savings account was paying the same as the base rate, at four percent, with inflation at 3.8 percent in the latest figures, the real-terms growth for your savings would be just 0.2 percent.