Compare regular saver accounts

West Brom BS Fixed Rate Regular Saver (Adult)

This regular savings account is available to new and existing West Brom BS customers and pays a fixed annual interest rate of 4.10% before tax to savers who commit to paying in between £10 and £250 each month.

The maximum you can pay into the account over the year is therefore £3,000.

The 4.10% rate makes it one of the leading regular savings accounts available, although higher rates can be found on accounts which require you be an existing customer.

Up to two calendar monthly payments can be missed over the year, but if you miss any more than this, the rate will plummet to just 0.50%. You can’t make any withdrawals over the 12 month period either, so you must be certain you won’t need to get your hands on your cash during this time.

Interest is paid on the anniversary of the opening of the account.

You must be aged 17 or over to be eligible to open this account, and only one account can be held per customer, either single or joint. The account must be opened by visiting a West Brom BS branch.

Barclays Monthly Savings

This account suits people who want to get into the habit of saving something every month. It pays a respectable 3.25% annual interest, which, while not a market-leading rate, still places it amongst the best buys for this type of account.

You can pay in between £20 and £250 a month and you can get access to your money whenever you want. However, in the months that you do make a withdrawal, you will earn a lower rate of 3.03%.

You don’t have to save the same amount every month, so if, for example, you are feeling stretched financially, you can amend your standing order so that you save slightly less that month. Alternatively you don’t have to make a deposit that month at all.

New customers to Barclays need to open this account in branch, but existing customers can apply online. The account is automatically switched to an instant access savings account when the one-year term ends, so you will need to be prepared to move your money then if the rate of interest you are earning is no longer competitive.

To be eligible for this account, you must be aged 16 or over and resident in the UK for tax purposes.

Market Harborough BS Monthly Super Saver

This account pays a respectable 2.95% annual interest before tax provided you pay in between £10 and £2,500 every month, although higher rates are available elsewhere.

The rate includes a 0.50% bonus which is only payable for the first 12 months, so you may want to move your money at the end of this period.

You can make as many deposits as you like per month, provided you do not exceed the £2,500 limit, and provided that each individual deposit is not less than £10.

Unlike many regular savings accounts, this account permits one penalty-free withdrawal a year. Further withdrawals are subject to a penalty equal to 30 days’ Gross interest.

Each customer may hold two Monthly Super Saver accounts but the combined maximum deposit per month must not exceed £2,500.

The maximum amount you can hold in the account is £50,000, which means your savings will be fully protected by the Financial Services Compensation scheme, as this protects deposits up to £85,000.

Interest is paid annually on 31st December. You can have the interest added to your Monthly Super Saver account, or paid into an alternative bank account.

Nationwide BS Regular Savings

This account pays up to 2.50% annual interest a year if you pay in between £500 and £1,000 a month.

The interest rate depends on the monthly increase in balance, not how much you have in the account.

So, if you only pay in between £1.00 and £99 each month, you will earn a paltry 0.10% annual interest. This rises to 1.35% if you pay in between £100 and £199 each month and 1.85% if you pay in between £200 and £499. The top rate of 2.50% goes to those paying between £500 and £1,000. For example, if you saved £500 a month for 12 months without making any withdrawals, you would earn £81.50 Gross interest by the anniversary of the first deposit.

Savers can make withdrawals whenever they want. While the top rate of interest is reasonably competitive, you can earn higher rates of interest with alternative regular savings accounts or easy access savings accounts.

The maximum amount that can be held in this account is £5 million, but if you are planning on investing a large lump sum, remember that only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS).

You must be aged at least 11 to open this account and there can be a maximum of two joint account holders.

Britannia Easy Monthly Saver

This regular savings account pays 2.10% annual interest a year before tax provided you pay in at least £20 a month.

That means if you invested £125 per month into the account you would earn £17.12 in interest Gross, paid on the account's anniversary.

While this rate is respectable, you can earn much higher rates of interest with alternative regular savings accounts.

You should also only consider this account if you are certain you can pay in £20 or more every month for 12 months – if you miss a payment then the rate will plummet to just 0.10% for that year.

On the plus side, you can make one withdrawal per anniversary year without affecting your rate of interest. But if you make more than one withdrawal, your interest rate will again fall to 0.10% for that year.

The account can only be accessed by branch or post, so it will not suit those who prefer to monitor their savings online.

The maximum amount that can be held in this account is £1 million, but bear in mind that if you do have significant savings to invest, only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS).

National Counties BS Monthly Saver

This account pays 1.50% annual interest before tax provided you pay in between £20 and £500 a month.

However, there are regular savings accounts which pay much higher rates of interest, so if you are considering this account, bear in mind that this is not one of the most competitive deals currently on offer. For example, if you save £100 a month and the interest rate remains at 1.50%, at the end of 12 months you would receive just £9.74 interest before tax is deducted.

On the plus side, unlike many regular savings accounts, you can make 2 no notice, penalty-free withdrawals in any 12 month period, which will suit savers who think they may need access to their money at some point.

You can also miss 1 monthly payment each year without affecting the amount of interest you earn.

Interest is calculated on a daily basis, and you can open and operate your account online, which is useful for those who prefer to manage their money at any time of the day or night.

Balances up to £85,000 held in this account are protected by the Financial Services Compensation Scheme (FSCS).