Despite the ongoing decline in UK savings rates to the base rate, Regular Saver remains a strong contender, offering savers an almost market-leading 6.5% interest. Regular accounts typically necessitate depositing a fixed amount each month and making minimal or no withdrawals.

These accounts are ideal for disciplined savers looking to gradually build their savings while enjoying higher interest rates than standard accounts. Nationwide's Flex Regular Saver can be opened with as little as £1, with interest paid on the account's anniversary. Monthly deposits are limited to £200, allowing for a maximum total contribution of £2,400.

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Based on current rates, this would generate £84.50 in interest over a year. The account is open to UK residents aged 16 or over who have a Nationwide Building Society current account.

This account offers more flexibility than what's usually expected from a 'regular' savings account, as up to three withdrawals can be made without penalty. However, after the fourth withdrawal, the interest rate will drop to 1.5%

Principality Building Society tops the list for regular savers, offering an Annual Equivalent Rate (AER) of 7.5%. The account runs for six months, with interest paid upon maturity.

Savers have the option to invest up to £200 each month, allowing the total sum to reach £1,200, but withdrawals are not allowed until the account matures. Therefore, despite its market-leading AER, the six-month term restricts the overall interest earned.

With a maximum monthly investment of £200, savers will accumulate £1,227.53, which includes £27.53 in interest, reports .

First Direct trails slightly behind with a 7% AER over 12 months. This account permits a larger deposit of £300 per month, amounting to £3,600 in savings over a year.

By the end of the term, savers will possess £3,736.50, inclusive of £136.50 in interest. Although First Direct's interest rate is lower, the longer term and higher deposit limit potentially make it a superior choice for building larger savings.