Savers investing their money into notice accounts are currently enjoying the best rates for three years, Moneyfacts.co.uk research has found.
Today, the average rate paid by notice accounts stands at 1.57% - the highest level since early 2009, when the average rate paid by the accounts peaked at 1.76%.
However, that fell to a lowly 1.00% two years ago, rising to 1.20% at the same point last year.
For those savers prepared to shop around for the best deal, rates of up to 3.30% are available, although these include heft notice periods which, if breached, can see the rate on offer fall significantly.
Savers also have to put away £1,000 or more to be eligible for the top rates in the market
Louise Holmes, spokesperson for Moneyfacts.co.uk, said that larger introductory bonuses, which usually last for 12 months, may have boosted average rates.
Currently, the average bonus rate on savings accounts is 1.06%, having risen from 0.99% 12 months ago and from 0.77% two years ago.
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"Whilst not as universally popular as their easy access counterpart, notice accounts tend to pay slightly better rates," she added.
"This is mainly due to the provision that savers will only access funds after advance notice is given to the provider.
"The top notice accounts are offered by lesser-known providers, such is the case with a lot of market-leading savings accounts at the moment.
"Investors would be wise to check out the market thoroughly to ensure they can take advantage of the best savings deal for them."
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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