Over two thirds of people surveyed – 70 per cent – said they had saved over the past 12 months.

This is an overall improvement of 2 per cent from the previous quarter of those saying that they been able to save regularly throughout the year.

One in ten set aside over £1,000 and one in five £500 or more, the report found.

In terms of savings levels, one in five – 22 per cent – said they have more than four times their household monthly income in accessible savings.

Cash ISAs continue to be the most popular way to save, followed by instant access savings accounts.

Men are more likely than women to be investing in stocks, shares or similar investment products.

Philip Robinson, savings director for Lloyds Bank said: “With over two thirds of people having saved in the last 12 months, and one in ten saving over £1,000 in the last month alone, we can see why savings confidence remains strong.”

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