Top regular savings accounts in the UK

Regular savings accounts are designed for people who are looking to save small amounts of money on a regular basis. Generally, you need to pay in a minimum amount every month and there are also limits on the maximum amount you can deposit. The main advantage of these accounts is the high annual interest rate. If you are interested, here are some reviews of regular savings accounts available in the UK.

HSBC Regular Saver

This savings account is offered by HSBC and has an interest rate of 8%, one of the highest on the market. When opening this type of account, you commit to paying anything between £25 and £250 every month, for at least 12 months. The HSBC Regular Saver account is only available for existing customers of the bank and you are not allowed to make any withdrawals during the fixed term. You have permanent access to information about your account by telephone and in branch.

West Brom BS Direct Fixed Rate Regular Saver

This is a fixed one-year account available for anyone aged 17 years upwards. The interest rate is 4.10% gross p.a. / AER and you can choose to save monthly a sum between £10 and £250. This account is available to new and existing customers alike and you can either apply in branch or by post. Like with the majority of regular savings accounts, withdrawals are not permitted during the one year fixed period.

Principality Building Society Regular Saver

This savings account requires a minimum monthly investment of £20 and a minimum initial investment of £20. The maximum amount you are allowed to deposit monthly is £500. The fixed term of the account is 12 months and the interest rate is 4%.

Regular savings accounts are useful tools for saving on short term. When choosing your account, keep in mind that they are generally not tax free. At the end of the fixed term, the money will be transferred to your current account and you will also have the option to have them transferred to another bank or building society.

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