Get a better return with a 'regular saver' account

If you’re putting aside money every month and want a good rate on it, a regular savings account could help. Cris Sholto Heaton picks the best.

Interest rates on most savings accounts today are frankly derisory even the best easy-access account currently offers just 1.4%. So if you've maxed out your Individual Savings Account (Isa) allowance, exploited as many of the high-interest current accounts as you can such as Club Lloyds (up to 4% on £5,000) and Santander 123 (up to 3% on £20,000) and still have money to spare, you may be struggling to decide where to put it.

Fixed-term savings accounts are the obvious option. But getting a decent rate requires ever-longer fixes: for 2.5%, you now need to tie up money for three years, hardly compelling. It may be your only choice if you're looking for a home for tens of thousands of pounds. But for smaller amounts especially if you're steadily putting aside a few hundred extra per month and want a good rate on it one or more regular savings accounts could be a much better solution.

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Cris Sholto Heaton

Cris Sholto Heaton is an investment analyst and writer who has been contributing to MoneyWeek since 2006 and was managing editor of the magazine between 2016 and 2018. He is especially interested in international investing, believing many investors still focus too much on their home markets and that it pays to take advantage of all the opportunities the world offers. He often writes about Asian equities, international income and global asset allocation.

Cris began his career in financial services consultancy at PwC and Lane Clark & Peacock, before an abrupt change of direction into oil, gas and energy at Petroleum Economist and Platts and subsequently into investment research and writing. In addition to his articles for MoneyWeek, he also works with a number of asset managers, consultancies and financial information providers.

He holds the Chartered Financial Analyst designation and the Investment Management Certificate, as well as degrees in finance and mathematics. He has also studied acting, film-making and photography, and strongly suspects that an awareness of what makes a compelling story is just as important for understanding markets as any amount of qualifications.