New customers

Please make sure you have read the Regular Saver Account Summary Box and Personal Savings Terms and Conditions.

Existing customers

Log in to open a new account.
Interest rate Summary box Opening an account FAQs Documents

What is the interest rate?

Interest rate (AER*)

5.00% Variable

Gross annual interest

5.00%

Minimum opening balance

£25.00

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.

This account runs for 12 months, starting from the date we receive the opening deposit. Interest is calculated daily and added to the Regular Saver Account balance at the end of the 12 month term. Interest cannot be paid monthly. At the end of the term, we'll transfer the total balance (including the interest earned) to an easy access account. While your money is in the easy access account you will earn interest at the rate applicable at that time.

Summary box - Regular Saver Account (Issue 2)

Yes, the interest rate is variable. We can increase or decrease the rate for any of the reasons set out in our Personal Savings Terms and Conditions. If we decrease the rate, we will let you know at least 14 days before the rate change happens.

Amount saved Estimated balance after 12 months Interest earned
£3,600 £3,697.40 £97.40

 

The example above assumes that 12 monthly deposits of £300 made on the 1st of the month. This is the maximum you can pay in each calendar month.

This is only an example and does not take into account your individual circumstances.

  • To open an account you need to be aged 18 years or over, resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
  • You can only open one Regular Saver Issue 1 and this must be in your sole name
  • You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service
  • You must pay money into your account within 30 days of submitting your application, otherwise it will close automatically
  • The minimum deposit required to open this account is £25
  • The maximum monthly deposit amount for this account is £300 in total per calendar month, which can be made in one deposit or multiple deposits during the month
  • 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 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
  • You must make all deposits from your nominated bank or building society account and your deposits must reach us in the calendar month they are intended for. If you make deposits by standing order, please make sure your standing order is set up on or before the 25th of each month to allow enough time for payments to reach your account within the calendar month

Yes, you can make unlimited withdrawals to your nominated account or transfers to any other Personal Savings accounts you hold with us that allow deposits.

We'll write to you 14 days before the end of the 12 month term to remind you that your money and interest will be transferred to an easy access account, and to provide a summary box showing the product details and the interest rate applicable to your new account.

  • Interest is paid gross without the deduction of income tax

  • If you change your mind within 14 days of opening your account we will cancel your account without penalty or notice

*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year

To view all current and previous rates for our personal savings accounts variable rate products, please click here.

Apply now for a Regular Saver Account (Issue 2)

Opening an account

You can open a Regular Saver Account just as long as you:

  • have a UK bank or building society account, on which you’re named as an account holder. This is your nominated account and you’ll need the sort code and account number to hand when you open your new account with us. You can only transfer money into your Aldermore account from this account
  • are aged at least 18
  • are resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
  • have read the Regular Saver Account Summary Box and Personal Savings Terms and Conditions
Young couple moving into house

Regular Saver account FAQs

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.

Our accounts are open to a wide range of people for a wide range of needs, just so long as you:

  • are aged at least 18
  • are resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income)
  • have a UK bank or building society account, on which you’re named as an account holder. This is your nominated account and you can only transfer money into your Aldermore account from this account
  • don’t already have an Aldermore Regular Saver Account (Issue 1). You can only open one of these accounts

You can make deposits by Faster Payments, BACS, CHAPS or Standing Order from your nominated UK bank or building society account. Please make sure that any payments you send us reach us within the calendar month they’re intended for. If you’re making regular deposits of the same amount each month, it may be easier to set up a standing order. This  will need to be set up on or before the 25th of each month to allow enough time for payments to reach the account within the calendar month.

You need to deposit £25 to open the account. You can pay in as little or as much as you like each month, up to a maximum monthly amount of £300. 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 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.

Yes, you can make unlimited withdrawals to your nominated account or transfers to any other Personal Savings accounts you hold with us that allow deposits. 

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