Andrew Hagger, of Moneycomms, said: “Savers don’t want to have to have to delve in the T&C’s before discovering their ‘great rate’ is let down by a restriction on withdrawals or unpalatable access penalties.

“Most customers just want a straightforward account where they can pay in and withdraw from whenever they like – in other words, a no-nonsense everyday savings account.”

Almost all of the top-paying easy-access accounts have restrictions, penalties, or bonuses. Cynergy Bank’s deal, at 0.7pc, drops to 0.3pc after 12 months. Tesco Bank’s account, at 0.61pc, falls to 0.1pc after 12 months, while Marcus by Goldman Sachs, at 0.6pc, decreases to 0.5pc after a year.

The best non-bonus account, from Shawbrook Bank at 0.67pc, has no restrictions on the number of withdrawals, but savers must withdraw a minimum of £500 at a time. 

Paragon Bank’s deal, at 0.65pc, drops to 0.25pc after the fourth withdrawal, while Aldermore’s 0.6pc account falls to 0.1pc after three withdrawals.