Best Regular Savings Accounts UK 2026

Last updated: April 2026 | Reading time: 6 minutes

Regular savings accounts reward you for saving consistently each month — they typically offer higher interest rates than easy access accounts, but in exchange you commit to depositing a set amount regularly and usually can’t make withdrawals during the term.

How regular savings accounts work

Unlike easy access accounts where you can deposit and withdraw freely, regular savings accounts have rules:

• You must save a minimum amount each month (often £25–£500)
• There’s usually a maximum monthly deposit (often £250–£500)
• The term is typically 12 months
• Withdrawals are often not allowed (or severely penalised) during the term
• At the end of the term, the account usually converts to a lower-rate easy access account

The interest rate is often headline-grabbing — some accounts advertise 7–8% AER. But here’s the catch: you’re only earning that rate on each month’s deposit from the day you make it. The effective return on your total saving over the year is roughly half the headline rate.

Best regular savings accounts (April 2026)

First Direct Regular Saver

Rate: 7% AER | Monthly limit: £300 | Term: 12 months

First Direct’s regular saver consistently tops the charts. Save up to £300 per month, earn 7% on each deposit, and at the end of 12 months you’ll have up to £3,600 plus interest. Catch: you must hold a First Direct current account to open one. But First Direct is widely regarded as one of the best current accounts in the UK anyway — excellent customer service, no monthly fee.

Nationwide FlexDirect Regular Saver

Rate: 6.5% AER | Monthly limit: £200 | Term: 12 months

Available to Nationwide FlexDirect or FlexPlus current account holders. Save up to £200/month and earn 6.5% for 12 months.

Lloyds Monthly Saver

Rate: 6.25% AER | Monthly limit: £400 | Term: 12 months

Open to Lloyds current account customers. The higher monthly limit (£400) makes this one of the better options if you can save a larger amount consistently.

How much will I actually earn?

Here’s the reality check on the 7% headline rate. If you save £300/month into the First Direct regular saver:

• Total deposited over 12 months: £3,600
• Interest earned at 7%: approximately £115
• Effective return: around 3.2% on the total deposited

That’s because your January deposit earns 7% for 12 months, but your December deposit only earns 7% for 1 month. The average across all deposits is roughly half the headline rate. That’s still excellent — better than most easy access accounts. But it’s important to understand what you’re actually getting.

Regular saver vs easy access: which is better?

Regular saver wins if:

• You want the discipline of a committed monthly savings habit
• You can definitely afford to lock the money away for 12 months
• You already have a separate emergency fund in place
• You have an eligible current account with a provider offering a strong rate

Easy access wins if:

• This money might need to be accessed at any point
• You want flexibility to save more or less each month
• You don’t have an eligible current account for the top regular savers
• You prefer simplicity

The ideal combination

Many savers use both: an easy access account (like Plum or Chip) for their emergency fund and flexible savings, plus a regular saver for a disciplined monthly top-up where the money is “off limits” for a year. This gives you flexibility where you need it, and maximum interest on the money you’re confident you won’t touch.

Use our savings calculator

Want to compare what a regular saver vs easy access account would earn on your specific situation? Use our savings calculator — plug in the numbers for each scenario and see the difference in pounds.

Key takeaways

• Regular savers pay higher headline rates but the effective return is roughly half that figure
• The best rates (6–7%) are tied to specific current accounts — check your eligibility
• They work best when you already have an emergency fund in place
• The 12-month term creates useful discipline if you struggle to keep your hands off savings
• Combine with an easy access account for a complete savings strategy

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This article is for informational purposes only. Rates are subject to change. Always verify current rates and eligibility on provider websites before opening an account. Savings Account Calculator may receive a commission if you open an account through links on this page.