After many years of low rates, savings have made a significant comeback over the last year.

With inflation sitting at 3.9 percent, most accounts are offering interest that beats this rate, meaning Britons can make the most out of their money.

As the cost of living crisis continues, any extra cash could be vital for those on low incomes.

Financial markets are assuming the Bank will cut interest rates up to five times next year in light of the recent fall in the annual inflation rate, despite the Bank of England’s insistence that it is too early to contemplate reducing the cost of borrowing.

Savers are urged to act now and secure the best rate they can.

“Top pick” savings accounts available, according to moneysavingexpert.com

Easy access accounts

The main idea with easy-access accounts is that people pay cash into them, the bank pays interest while the money’s in the account and people can withdraw whenever they want. The top rates often come with conditions – such as limited withdrawals or bonus rates.

Notice savings accounts

These accounts require people to give notice before they can withdraw their cash.

They’re good for people who know they’ll need their money, don’t know exactly when, but know they’ll not need it straightaway when they do.

Fixed-term savings accounts

With fixed savings, people can’t usually withdraw their money until the end of the term, but in return, the interest rate is guaranteed.

Britons should only lock money away they know they won’t need access to.

Currently, National Bank of Egypt UK offers the top six-month rate (5.22 percent) and nine-month rate (5.18 percent) via online ‘savings marketplace’ Raisin (both min £10,000).

If people prefer to save directly, Zenith Bank UK offers the next highest six-month rate at 5.2 percent (min £1,000), while Monument Bank offers the next highest nine-month rate at 5.08 percent (min £25,000).

Regular savings account

If people save little and often, regular savings accounts can offer top rates of up to eight for feeding them every month.

Top existing-customer accounts include:

Top open-to-all accounts: