Should you swap easy access for 'double access' savings that let you make only two withdrawals a year but can pay up to 4%?

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Savers can now earn as much as 4 per cent interest by opting for a little known 'double access' account.

These types of savings accounts pay a fixed interest rate as long as you make no more than one or two withdrawals a year.

It means you can dip into savings while still being able to enjoy a rate of return comparable with accounts that tie up your money and have penalties for using it.

- Check out the best easy-access savings rates here. 

Better rates: 'Double access' accounts pay a fixed interest rate as long as you make no more than one or two withdrawals a year

West Bromwich BS has today raised the rate on its Double Access account to 4 per cent, up from 3.85 per cent. 

You can open the top-paying account by post or at a branch. If you make more than two withdrawals, the rate drops to 2.2 per cent. 

The top rate lasts until August next year. Tomorrow, HSBC raises the rate on its Online Bonus Saver. 

The 4 per cent is paid on balances up to £10,000 — so a maximum of £400 interest a year. 

But you only earn this rate if you don't withdraw any money from your account for 12 months.

The top account with no restrictions on the number of times you take money out pays 3.85 per cent and is available online from Secure Trust Bank.

sy.morris@dailymail.co.uk