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Guide to Savings Accounts

Regular Savings Account

Most of these accounts can be opened with as little as £1. A direct debit or standing order is established to allow for regular payments to be deposited directly into the account. This is usually for an amount of £25 per month and, on the condition that all of the regular payments have been made, interest is then paid on the account.

It is quite common for the account to have conditions attached to it, such as how much you can withdraw and how many withdrawals are allowed in any one period of time, this is usually set at 12 months. The interest rates for regular savings accounts offer a good return, they are around 4-5% (AER) and are paid as long as all terms and conditions are adhered to. Interest is tax deductible and is often paid on the account yearly.

Regular savings accounts often have strict conditions, make sure you are fully aware of these before you commit a saving account.

These accounts are widely available on the high street, online or by telephone banking.

PDF Guide to Saving Accounts Download the Saving Accounts PDF Guide here - see our other free PDF guides here

Guide Contents

Why Save?
Tips to help you start saving
The different types of savings accounts
Instant Access
Regular Savings Account
Notice Accounts
Affinity Savings Accounts
Ethical Savings Accounts and Charity Savings Accounts
Cash ISA's
National Savings & Investments
Children's Savings Accounts
Term or Bond Savings Accounts
Guaranteed Equity Savings Account
Frequently Asked Questions
Further help with Savings Accounts

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