However, the higher rates are only available on new accounts so it's up to you to move your money and take advantage of the great deals available.
This week, The AA has launched a new account paying 3.15% on balances up to £50,000. The rate increases to 3.30% on balances above that but bear in mind that, unless it is a joint account, only £50,000 is fully guaranteed under the terms of the Financial Services Compensation Scheme.
The AA's new entry to the market means there are now 11 easy access accounts paying 3.0% or more.
However, millions of savers are unnecessarily losing out on hundreds of pounds in interest because their money is languishing in uncompetitive accounts. The average instant access account pays just 0.15% according to official figures.
A saver with £10,000 invested in a typical account could therefore earn an extra £315 in gross interest over one year by moving to the top-paying easy access account - Citibank's Flexible Saver Issue 6.
If you are not getting 3.0% or more on your easy-access savings, then now is time to stop the rot. You owe it to yourself to move your money today.
Where can I find the best accounts?
The account topping the easy-access best-buy tables at the moment is the Citibank account mentioned above. It allows instant access to your money and pays the headline rate on £1 and above, meaning that even smaller savers can get a great return. It also offers a range of management options - it can be run over the phone, by post or online.
The only real drawbacks with the account are that it is only available to new customers, not those who already save with Citibank, and that it has an introductory bonus guaranteed to remain at 2.25% for the first 12 months. After that time, however, it will fall so you will have to remember to switch to a new, competitive deal after the first year. However, don't let this put you off as all the leading savings deals include bonuses or rates that are only guaranteed for the first year - this is a sign of the times. We're being offered rates significantly higher than the base rate but in order to take full advantage we need to be active.
If you are a Citibank customer, the only alternative account offering an equally good interest rate is Bradford & Bingley's Notice Saver Online, which also pays 3.30%.
This account carries more restrictions than Citibank's. You must give 60 days' notice before accessing your cash if you want to avoid a penalty, the account can only be managed online and the minimum investment is £1,000. Its rate also includes a 12-month bonus of 2.80%, meaning it is unlikely to offer value for money in a year's time.
The ING Direct Savings Account is a great choice if you do not want to have to worry about having to keep an eye on your interest rate as its 3.20% rate is guaranteed for the first 12 months. (Citibank's and B&B's rates are variable so potentially they could change, even during the bonus term, although of course this could be up as well as down).
After the first year, the rate drops to ING's standard rate, currently 0.50% after the first year so you should still look to move your money again at that time.
The account can be managed over the phone or online, but like Citibank's offering it is only available to new customers.
Sainsbury's Finance's Online Saver is also paying 3.20%. This account offers instant access to your money, but you are only allowed to make three penalty-free withdrawals a year. Should you need to dip into your funds more than three times in a 12-month period, or allow your balance to fall below the minimum investment level of £1,000, then the rate falls to 0.50%.
Other leading accounts include Birmingham Midshire's Telephone Extra at 3.15% (including a 12-month 2.65% bonus) and Leeds Building Society's Online Access Account at 3.05%, which are also worth a look.
Lloyds TSB also has an account with a bonus-free interest rate, available to its current account customers. The Incentive Saver pays 3.04%. One reason that this account might appeal is that, unlike the majority of the top easy-access accounts, it can be run through your local branch.
However, as well as being restricted to those with a Lloyds' current account, you can only save up to £50,000 at that rate and withdrawals are penalised by no interest being paid in that month. Also, this is another one-year product effectively, because after 12 months your money is transferred into Lloyds' Easy Saver which is currently paying 1.60%.
Meanwhile, internet savers may also be interested to know that Tesco Personal Finance, Barnsley Building Society and Alliance & Leicester are all also paying 3.0% on online accounts offering unrestricted access.
The Tesco account is a better bet for smaller savers, as it requires a minimum deposit of just £1, versus £1,000 with Alliance & Leicester.
But both accounts include bonuses that end after the first 12 months. This is also true of Coventry building society's 1st Class Postal Account (2) - a former market leader - which has a 3.0% rate that includes a 1% bonus.
The Coventry account also carries restrictions, such as that you must invest at least £1,000 and that you can only make up to four withdrawals, all of which must be of £1,000 or more, in any 12-month period. It may appeal to people who would rather not bank online, though. As the name suggests, this account can only be managed via the post. That said, if you have the first Issue of the 1st Class Postal Account, you won't be eligible for this deal.
Please note: Any rates or deals mentioned in this article were available at the time of writing. Products or companies underlined can be applied for directly.
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