Best regular savings accounts – get up to 7.5%

Cash savers looking for the best rates on their savings could be in for a treat as banks are returning as much as 7.5% on their regular savings accounts.

To take advantage of most regular savings accounts, you'll need to be an existing current account customer – but that's not the case for all of the banks and building societies.

For more options, you can review our guide to the best savings rates. If you want flexibility for your cash, our guide to the best easy-access savings accounts is a good place to start.

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The best regular savings accounts

Regular savers come with more restrictions than easy access or fixed-term savings accounts, such as how much you put in a month and access to withdrawals, so make sure to pick one that suits you.

Principality Building Society Regular Saver– 7.5% AER

What's the deal?

This regular saver is returning 7.5%. It requires you to fix your cash for six months, and you can pay in up to £200 a month. You need to keep £1 in the account to keep it open.

Eligibility

You're not permitted to withdraw money in the six-month term, and you can only save up to £1,200 in the fixed period. Plus, if you want to close your account early, you can without a penalty – and any interest earned will be added to your account balance.

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Zopa Regular Saver – 7.1% AER

What’s the deal?

Zopa has launched a new current account called Biscuit, and customers can unlock an attractive savings rate of 7.1% if they deposit up to £300 per month. Current account holders can also earn 2% on all balances and 2% cashback on direct debit bills worth up to £1,500 per year. Plus, there are no fees on overseas spending.

Eligibility

You will need to open Zopa’s new Biscuit current account to access the exclusive regular saver rate of 7.1%. The account can be opened by downloading the Zopa Bank app.

We explore whether the Zopa Regular Saver is worth getting.

First Direct Regular Saver - 7% AER

What’s the deal?

First Direct pays 7% if you deposit between £25 and £300 per month into the account.

Eligibility

To benefit from the 7% rate, you must be a First Direct current account holder. The rate will only be available for 12 months, after which it may drop.

Co-operative Bank Regular Saver - 7% AER

What’s the deal?

The Co-operative Bank is offering a rate of 7% AER. The account will mature after one year, but the rate is variable, which means it could change throughout this period. Save up to £250 a month. You have the freedom to withdraw money when you like.

Eligibility

This account can be opened either online or in branch. Read more about whether the Co-op regular saver is worth it.

Melton BS Adcock Regular Saver – 6.5% AER

What's the deal?

This variable regular saver is returning 6.5%. You can pay in a maximum of £150 each calendar month. However, you are not required to make a monthly payment, and withdrawals are permitted. The account will mature on 30 September 2027.

Eligibility

This account can be opened by new and existing customers but is limited to one account per person. You can open the account in a branch or via post by downloading the form from their website.

Nationwide Flex Regular Saver - 6.5% AER

What’s the deal?
There is no monthly minimum deposit and you can save up to £200 per month. The account allows up to three withdrawals. On your fourth withdrawal, the rate on the account will drop to 1.5% (variable) for the rest of the term.

Eligibility

You can get access to Nationwide’s 6.5% AER regular savings account when you open a current account with the bank.

Lloyds Bank Club Monthly Saver - 6.25% AER

What’s the deal?

Lloyds Bank is offering 6.25% on a maximum deposit of £400 per month. To give some certainty, the rate is fixed for one year. If you want flexibility with your cash, this account has no restrictions on withdrawals. After one year, your account will become a standard saver.

Eligibility:

There are no eligibility restrictions.

Vernon BS Online Regular Saver – 6.25% AER

What’s the deal?

Vernon Building Society offers 6.25% for those who save between £25 and £250 per month. The rate is fixed for a year, and no withdrawals are permitted. If you need to access your account urgently, you can close the account without notice or penalty. The account can be opened online via the website.

Eligibility

The account is only available for those who live in the following postcodes: BL, CH, CW, M, OL, SK, WA or WN. You cannot open a joint account.

West Brom BS Fixed Rate Regular Saver - 6% AER

What’s the deal?

You can earn a fixed rate of 6% and start saving from as little as £10, while going up to £250 a month. Withdrawals are not permitted, and the account can only be opened in branch. Interest is paid at maturity.

Eligibility

There are no eligibility restrictions.

Market Harborough Building Society Fixed Term Regular Saver - 5.8% AER

What’s the deal?

With monthly deposits of between £10 and £250, this account will allow you to earn interest of 5.8% on your savings. Even with a penalty, you cannot make early withdrawals.

The account matures on 30 June 2026. You can open the account in one of six branches across Leicestershire and Northamptonshire.

Eligibility

There are no eligibility restrictions.

How does a regular savings account work?

Compared to other types of savings accounts, there are more caveats to consider when opening a regular savings account. Here's what to look out for:

• Existing customers – Most regular savers offer the best rates to their existing customers, so you may need to have a current account to get the rate.
• Monthly payments – To receive the best rates, a lot of regular savers ask for a minimum payment, which can be as low as £10 per month. There is also an upper limit, so the amount you can save is restricted.
• Your cash is protected – The Financial Services Compensation Scheme (FSCS) protects all of the banks mentioned in our best regular savers on balances up to £85,000. It’s a good idea to spread your money across your current accounts and savings to ensure you don’t have more than the higher limit in any one account.