Consumers need to be rigorous in checking that their bank accounts have been adjusted to take into account January's 0.25 per cent base rate rise.
According to Rachel Thrussell, head of savings at Moneyfacts, many financial providers have been selective about the types of accounts which are increased in line with base rates.
The group has found that the average no-notice savings account pays 3.47 per cent while a meagre notice account pays 3.68 per cent.
Ms Thrussell said the gap between customers receiving higher paying accounts and those customers remaining loyal to their existing savings account has increased.
However, she said that there were still "plenty" of accounts offering a decent rate of return, so that "savers have no reason to stay with their poor paying account".To learn more about savings accounts, click here.
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