This is a type of savings account where you can pay in a monthly amount on a regular basis for a set period of time. You’ll typically get a better interest rate than you'd get with an easy access account.
With our Regular Saver Account Issue 1, you’ll need to pay in £25 to open the account and the account runs for 12 months from the date your first deposit is received. The maximum monthly deposit amount is £300 in total per calendar month, which can be made in one deposit or multiple deposits.
You don’t have to make a deposit each calendar month. If you don’t make a deposit in any calendar month, or don’t pay in the full £300, you can’t catch this up by paying in more the following month – the maximum monthly deposit of £300 still applies.
If you make a deposit of more than the maximum monthly amount of £300, this will be returned to your nominated account. If you have met the £300 maximum deposit and then make a withdrawal in the same month, you will not be able to deposit further funds until the next calendar month.
At the end of the term, we’ll transfer your money to an easy access account at the interest rate available at that time.