Compare our best rates for regular savings accounts

Choose a regular savings account to help you reach your goals quicker, just pay funds in each month to earn a better return on your money.

  • Compare regular savings accounts from leading providers
  • Check terms, rates and products
  • Our service is simple, reliable and is at no charge

Compare regular savings accounts from leading providers

Looking through a range of options gives you more chance of securing a great deal. You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

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How to compare regular savings accounts

1

Run a savings account comparison

Work out how much you want to save each month, how much access you want and how you want to manage the account and then have a look for the best rate.

2

Check the terms

Check any conditions attached to each accounts as they can vary widely across providers.

3

Apply for the account

Once you've found the account that's the best fit, simply apply.

Regular savings account deals

57 results found, sorted by highest interest rate. How we order our comparisons. Commission earned affects the table's sort order.
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Cambridge Building Society Extra Reward Regular Saver Ex/C
Open account
Branch, phone & post
Open with
£100 to £250
Interest rate
5% AER fixed for 1 year
Protection scheme
FSCS
Cambridge Building Society Extra Reward Regular Saver Ex/C
This product is only available to existing members.
No early withdrawals. Closure is permitted subject to a 90 day interest penalty.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£1005%5%5%5%
Eligibility
Maximum Initial Deposit£250
Minimum Initial Deposit£100
Minimum Age16 years
Permanent UK Resident
Bath Building Society 16-25 Regular Saver
Open account
Online, branch & post
Open with
£10 to £50
Interest rate
4.65% AER variable
Protection scheme
FSCS
Bath Building Society 16-25 Regular Saver
This account is only available in certain areas of the UK.
Only 2 permitted withdrawals per calendar year. Bath Building Society reserves the right to transfer the account into an Instant account if this is exceeded.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£104.65%4.65%4.65%4.65%
Eligibility
Maximum Age25 years
Maximum Initial Deposit£50
Minimum Initial Deposit£10
Minimum Age16 years
Minimum Monthly Investment£10
New Money
Permanent UK Resident
First Direct Regular Saver Ex/C
Open account
Online
Open with
£25 to £300
Interest rate
3.5% AER fixed for 1 year
Protection scheme
FSCS
First Direct Regular Saver Ex/C
This product is only available to existing current account customers.
No withdrawals permitted during term of account.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£253.5%3.5%3.5%3.5%
Eligibility
Maximum Initial Deposit£300
Minimum Initial Deposit£25
Minimum Age18 years
Minimum Monthly Investment£25
Permanent UK Resident
Royal Bank of Scotland Digital Regular Saver
Open account
Online
Open with
Any amount
Interest rate
3.3% AER variable on £1 to £1,000
Protection scheme
FSCS
Royal Bank of Scotland Digital Regular Saver
The interest rate you receive will vary based on your account balance.
No notice, penalty, or charge applies.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£13.25%3.25%3.3%3.3%
£1,0010.3%0.3%0.3%0.3%
£5,0010.1%0.1%0.1%0.1%
Eligibility
Maximum Initial Deposit£150
Minimum Age16 years
Permanent UK Resident
NatWest Digital Regular Saver
Open account
Online
Open with
Any amount
Interest rate
3.3% AER variable on £1 to £1,000
Protection scheme
FSCS
NatWest Digital Regular Saver
The interest rate you receive will vary based on your account balance.
No notice, penalty, or charge applies.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£13.25%3.25%3.3%3.3%
£1,0010.3%0.3%0.3%0.3%
£5,0010.1%0.1%0.1%0.1%
Eligibility
Maximum Initial Deposit£150
Minimum Age16 years
Permanent UK Resident
Cambridge Building Society Reward Regular Saver Ex/C
Open account
Branch, phone & post
Open with
£100 to £250
Interest rate
3% AER fixed for 1 year
Protection scheme
FSCS
Cambridge Building Society Reward Regular Saver Ex/C
This product is only available to existing members.
No early withdrawals. Closure is permitted subject to a 90 day interest penalty.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£1003%3%3%3%
Eligibility
Maximum Initial Deposit£250
Minimum Initial Deposit£100
Minimum Age16 years
Permanent UK Resident
Principality Building Society Learner Earner Issue 3
Open account
Branch
Open with
£1 to £250
Interest rate
2.75% AER variable
Protection scheme
FSCS
Principality Building Society Learner Earner Issue 3
Available in branch only.
Up to 3 withdrawals are permitted each calendar year. Closure is permitted but counts as a withdrawal.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£12.75%2.75%2.75%2.75%
Eligibility
Maximum Initial Deposit£20,000
Minimum Initial Deposit£1
Minimum Age18 years
Permanent UK Resident
Santander Regular eSaver (123) Issue 15 Ex/C
Open account
Online & branch
Open with
£1 to £200
Interest rate
2.5% AER variable
Protection scheme
FSCS
Santander Regular eSaver (123) Issue 15 Ex/C
This product is only available to existing current account or credit card customers.
There is no notice, penalty or charge made for withdrawals but they must be made via internal transfer to the account holder's Santander current account via Online Banking.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£12.5%2.5%2.5%2.5%
Eligibility
Maximum Initial Deposit£200
Minimum Initial Deposit£1
Minimum Age16 years
Permanent UK Resident
Nationwide Flex Regular Saver Ex/C
Open account
Online
Open with
Any amount
Interest rate
2.5% AER variable
Protection scheme
FSCS
Nationwide Flex Regular Saver Ex/C
This product is only available to existing current account customers.
The rate includes a bonus subject to a maximum of 3 withdrawals. Further withdrawals are permitted however a lower rate of interest will be paid for the remainder of the product term.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10.35%2.5%0.35%2.5%
Eligibility
Maximum Initial Deposit£200
Minimum Age16 years
Permanent UK Resident
Hanley Economic Building Society Home Deposit Saver
Open account
Branch
Open with
£100 to £500
Interest rate
2.45% AER variable
Protection scheme
FSCS
Hanley Economic Building Society Home Deposit Saver
This account is only available in certain areas of the UK.
Available in branch only. Only available for customers who are saving for a deposit for a house.
Withdrawals are permitted subject to 180 days' interest penalty. Instant access withdrawals are permitted if the balance is being withdrawn for a house deposit linked a mortgage with The Hanley. Closure terms are the same as withdrawal terms.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£1002.45%2.45%2.45%2.45%
Eligibility
Maximum Initial Deposit£500
Minimum Initial Deposit£100
Minimum Monthly Investment£100
Permanent UK Resident

What is a regular savings account?

A regular savings account is an account you save a fixed amount into every month. The money you keep in the account will earn interest over time. It is a great place to begin if you'd like to start saving.

With regular savings accounts, you have to put a minimum amount in each month. So they're a good option for people who are committed to starting a regular savings habit.

You'll usually get good interest rates with a regular savings account, compared with other types of savings accounts. The interest tends to be paid annually. The rate you're given to begin with might only last a year.

You might find that there are some restrictions such as how much you have to pay in, or how many withdrawals you can make a year.

How to get the best regular savings account

Before choosing a regular savings account, there are a few important things to think about. Ask yourself:

  • How much do you want to save each month? This can be between £1 and £3,000, depending on which regular savings account you choose

  • How do you want to manage your account? You could manage your account online, by post, by phone or in a branch

  • How much access do you want? Some accounts don't let you withdraw for a set term, so check this carefully if you need to be able to access your savings

Once you know what you want, you can find the highest interest rate available by comparing the regular savings accounts in our table below.

You'll often find that the regular savings accounts offering the best interest rates come with the most restrictions.

Find out how to manage a regular savings account here.

How much do I have to pay in each month?

This can vary depending on which regular savings account you go for. It could be a set amount such as £50 a month, or it could be an amount within a set bracket, such as £25-£50 a month.

If you don't make the agreed payments, you risk losing your interest. Some banks may even close your account. Others don't mind you missing the odd payment, so check your terms and conditions carefully.

If you're struggling to make a payment, contact your bank or building society to discuss this.

Although many accounts will set a limit on how much you can put in, you could have more than one regular savings account. That way, you could save more and earn more interest. But you can't have more than one with the same bank or building society - each regular savings account would have to be with a different provider.

How long do the advertised interest rates last?

You'll usually get the advertised rates for a year, as long as you pay money in each month during that time.

For this reason, many people switch to a new regular savings account after a year.

Are there different types of regular saver?

Yes, there are two types of regular savings account available, depending on your situation. There's:

  • New customer regular savings account: You can open these accounts as a brand-new customer. You don't have to have any existing financial connection to the bank or building society.

  • Existing customer regular savings account: These are offered to existing customers of a bank or building society. The bank or building society often gives existing customers a higher interest rate.

To make sure you're aware of all your options, make a note of where you hold existing savings and current accounts. Then speak to your banks and building societies. It might be that you qualify for a better regular savings account that's only available to existing customers.

Can you withdraw money from a regular saver?

With most regular savings accounts, you can't withdraw any money for a set term, such as 12 months.

Some do let you withdraw cash any time you like, but then they don't let you replace the money you took out until the next calendar month.

If you don't want any restrictions on how often you save or withdraw your money, you could save into an instant access account instead. But be aware that the interest rate you get won't be as high.

Tax on regular savings accounts

If you exceed your 'personal savings allowance', then you pay tax on the interest you earn from your regular savings account.

Everyone can earn a set amount of money each tax year before having to pay tax on the earnings. This includes savings interest.

For most savers, the interest you earn won't be taxed. You can save your money in the account that's best for you, without having to worry about paying tax on your earnings. This means that most taxpayers can earn interest from a regular savings account in the same way they would from a cash ISA, which is always tax-free.

In the 2022/23 tax year, the personal savings allowance lets you earn up to £1,000 in interest without paying tax if you're a basic rate tax payer. For higher rate tax payers the allowance is £500.

In addition, your total income would need to exceed your personal allowance before you start paying income tax at all. The personal allowance for the 2022/23 tax year is £12,570.

If you earn under £17,570, you can also benefit from the starting rate for savings. This is an additional allowance to add to your personal savings allowance. For the 2022/23 tax year this was set at £5,000 for those who earn £12,570 or less, falling by £1 for every £1 you earn above £12,570.

This means you'll only pay tax on savings interest if the amount of interest you earn exceeds:

  • your starting rate for savings (if you earn under £17,500)

  • and your personal savings allowance

  • and your total income exceeds your personal allowance.

Regular savings FAQs

About our regular savings accounts comparison

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Why compare savings accounts deals with money.co.uk?

Comparing savings accounts could save you money. Our multiple award-winning comparison service makes sure you get the lowest fees and rates possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.

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Last updated: 22 April, 2022