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Join Which? MoneyTop regular saver rates come with a catch – are you better off elsewhere?
Which? finds many of the highest-paying regular saver accounts come with barriers to opening
Regular saver accounts offer some of the highest rates on the market – but unlocking these headline-grabbing deals isn’t always easy.
Our snapshot analysis found nine of the current top 10 come with eligibility requirements, such as needing to hold a current account with the provider, or live in a specific area.
If you want an account that’s open to everyone, you’ll need to accept a lower rate.
But could another type of savings product work harder for your money? Here, Which? takes a closer look.
What do regular savers offer?
As the name suggests, regular savers are aimed at people who want to save little and often.
Unlike fixed-rate bonds or easy-access accounts, you’ll usually need to pay in a set minimum each month, with a cap on deposits – typically between £250 and £500.
In return, these accounts offer interest rates far higher than most other types of savings product.
This table shows the current top regular saver accounts, ranked by interest rate:
Principality Building Society | 6 Month Regular Saver | 7.5% | 76% | £1 | £200 | Branch, Internet |
Zopa (a) | Regular Saver | 7.1% | 77% | £0 | £300 | Mobile App |
First Direct (a) | Regular Saver Account | 7% | 73% | £25 | £300 | Internet, Mobile App |
The Co-operative Bank (a) | Regular Saver Issue 1 | 7% | 67% | £0 | £250 | Branch, Internet, Mobile App |
Bath Building Society (a) | 16-25 Regular Saver | 6.65% | n/a | £10 | £50 | Branch, Internet, Mobile App |
Nationwide Building Society (a) | Flex Regular Saver Issue 6 0-3 withdrawals pa | 6.5% | 77% | £0 | £200 | Internet, Mobile App |
Virgin Money (a) | Regular Saver Exclusive Issue 3 | 6.5% | 67% | £0 | £250 | Branch, Internet |
Table notes: data sourced from Moneyfacts on 5 August 2025. Provider customer score is based on savers' overall satisfaction with the brand and how likely they are to recommend it to others. n/a means sample size was too small for us to generate a provider score (a) Existing current account customers only, requires membership with provider or requires you to live in a specific postcode
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Compare and chooseOver a third of all deals have opening restrictions
Regular saver accounts currently pay up to 7.5% AER. But Which? analysis of Moneyfacts data on 4 August found that 40% of regular savings accounts have opening restrictions – and nine of the current top 10 deals include conditions to get started.
As the table shows, market-leading accounts from Zopa, First Direct, The Co-operative Bank, Nationwide, Virgin Money, and Lloyds can only be opened if you hold a current account with them.
Some providers require you to have been a customer for a set period before you can open their savings product. Skipton's table-topping regular saver accounts, for example, can only be opened if you have held a savings account or mortgage with them continuously since 20 January 2025.
Other accounts only allow those with certain postcodes to open them. You can only save with the top product from Bath Building Society, for instance, if you live, work, or study in Bath.
Principality Building Society offers the highest rate of 7.5% AER and has no opening restrictions. However, the fixed-rate account is only for six months. If you want to open an account that lasts longer and doesn't have these strings attached, you’ll need to settle for a slightly lower rate.
The best open-to-all option is Monmouthshire Building Society’s Regular Saver at 6% AER. Saving £300 a month in this account for a year would earn around £117 in interest.
By comparison, Zopa’s 7.1% AER regular saver – available if you have its Biscuit current account – would pay about £137. That’s an extra £20.
- Find out more: best savings rates 2025
Are regular savers worth opening?
With so many conditions to watch out for, are regular savers worth the effort? Here are six key points to think about before deciding if this type of account suits you.
1. Returns may be lower than you expect
Even with high rates, the total interest earned can be less than you might imagine, because you build the balance gradually over the year.
For example, saving £300 a month for 12 months at 7% might suggest £264 in interest on £3,600. In reality, you’d earn closer to £137, as each deposit only earns interest for part of the term.
- Find out more: the different types of savings accounts
2. Withdrawal rules can be restrictive
Many regular savers limit withdrawals during the term, so think carefully about whether you can leave the money untouched.
If you need flexibility, an easy-access account could be more suitable. Cahoot currently offers the highest rate for an account without restrictions at 5% AER.
3. Variable vs fixed
While some regular savings accounts have rates fixed for 12 months, others are variable. That means they could increase or decrease at any time.
With savings rates across the market steadily dropping, it's very possible the interest rate you get when you open will drop in the course of the year, dragging the total amount you're likely to earn down with it.
If you have a lump sum to save, a fixed-term bond might work better. GB Bank’s top one-year bond pays 4.53% AER.
Saving £3,600 upfront in this account would earn around £165 in interest – £28 more than First Direct’s 7% regular saver (based on monthly deposits of £300).
4. Consider your savings goal
Regular savers can be ideal if you’re starting from scratch or want to build a savings habit. Committing to a set amount each month makes it easier to keep saving over time.
Some accounts are tailored to specific aims. Leeds Building Society’s Home Deposit Saver, for instance, pays a variable 4.8% AER and lets you save up to £500 each month towards a first property.
Others suit smaller budgets. NatWest’s Digital Regular Saver accepts deposits from just £1 a month, allows withdrawals, and pays 5.5% AER (variable).
Some banks also offer Christmas-themed regular savers that open in winter to help spread festive costs over the year. These typically run for 11 to 12 months, though none are available to open at present.
5. You can open more than one
If you're eligible, there's no reason why you can't maximise your savings by opening more than one regular savings account.
Just make sure you can afford to pay in the required amount of money to keep them open.
6. Don't forget to move your money
Regular savers usually mature after a year or two. At that point, balances are often transferred to a standard account with a lower rate.
So, remember to move your money to another top-rate account once the term is over. Take a look at our guide for top rates and to find out how providers rank based on customer experiences and expert Which? analysis.
