Savers have experienced a rollercoaster year with the market experiencing both sharp climbs and sudden drops since 2005, but little in the way of calm, says Moneyfacts.

People with variable rate sayings accounts were the most likely to have experienced sinking feelings. Those with fixed term accounts still have not reached the top, however.

"Within the last two weeks over seven providers have edged their rates upwards, in most cases covering their full range," said Rachell Thrussell of Moneyfacts.

"If you can afford to tie some of your savings up for six months or more, with minimum deposits starting as low as £1, it may be worth moving some funds from the falling variable rate accounts to make the most of these rising rates," she added.

Best saving account rates have risen by as much as 0.50 per cent since January, to an average 5.50 per cent.

Conversely, some of the attention-grabbing rates of interest on Isas being offered at the end of the tax year have rapidly fallen.

Barclays and HSBC have both reduced rates across their Isa ranges by as much as 0.45 per cent while Marks & Spencer has reduced payments by 0.25 per cent.

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