Top three regular savings accounts

Ranking top of the list is Lloyds Bank’s Club Lloyds Monthly Saver with an AER of 5.25 percent.

A £25 deposit is required to open this account and the term runs for 12 months, which means up to £4,800 can be invested over the course of the year.

The account is available to Club Lloyds customers and unlimited withdrawals are permitted without penalty. The interest rate is fixed and will be paid on the anniversary of the account opening, and deposits between £25 and £400 must be invested before the 25th of every month.

Placing second is NatWest’s Digital Regular Saver with an Annual Equivalent Rate (AER) of 5.12 percent.

The 5.12 percent interest rate is awarded to savings up to £1,000, after which a one percent and 0.5 percent rate will be awarded to figures from £1,001 to £5,000, and £5,001 and over, respectively.

There is no minimum deposit required to open the account and it allows people to save up to £150 each month. Unlimited withdrawals are also permitted without penalty and interest is awarded monthly.

Placing third is the Royal Bank of Scotland’s Digital Regular Saver with an AER of 5.12 percent.

Like NatWest, the same interest rules apply to this bank account (5.12 percent paid up to £1,000, then one percent and 0.5 percent), interest is applied monthly, and unlimited withdrawals are also permitted.

Top three fixed rate bond savings accounts

Top of the list is Cumberland BS5 Year Fixed with AER of 5.05 percent.

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