Regular Savings AccountThe Best Account for Building your Savings over Time

A regular savings account is ideal if you would like to build on your savings over a set period of time, rather than depositing a lump sum and locking it away. The regular savings account providers often reward savers for meeting the deposit criteria with an annual bonus, paid in the form of a higher rate of interest. You would usually need to commit to making a certain number of monthly payments each year in order to earn this bonus. More info

A regular savings account is usually the most regimented type of savings account, in that your monthly deposits and your access to your cash are usually limited. However, if you stick to all their conditions, pay in your monthly deposit by direct debit so that you don't forget and aim not to touch the cash for the agreed period of time, you could earn a good rate of interest on your money, including the annual bonus rate. Please note though that the top rates of interest usually only apply for the first year, after which time you should look to move your money elsewhere in order to continue being eligible for the higher rates of interest. Less