While savings are generally falling, is offering people keen to regularly put away cash a competitive 6.5% AER.
Virgin Money's Regular Saver Exclusive rate is fixed until May 2026, and people can save up to £250 per month. Regular accounts typically require people to each month and make minimal to no withdrawals. They're great for disciplined savers who want to build their savings over time and benefit from higher than standard accounts.
The account is available to UK residents aged 16 or over who hold a Virgin Money personal current account.
Interest is paid when the account matures on May 29, 2026. Based on the maximum £250 monthly deposit cap, savers could contribute a total of £3,000. According to Virgin Monday, the projected balance, including interest, after the 12-month period would be £3,105.16.
This account is more flexible than what's typically expected from a 'regular' savings account, as withdrawals are allowed at any time. However, the bank warned that any money taken cannot be replaced if the £250 maximum deposit limit for that calendar month has already been reached.
What else is out there?Principality Building Society tops the table for regular savers with an Annual Equivalent Rate (AER) of 7.5%. The account runs for six months, and interest is paid on maturity.
Savers can invest up to £200 per month, allowing the pot to grow to a total of £1,200, and withdrawals are not permitted until the account matures. So, while it may have a market-leading AER, its six-month term limits the total interest earned.
With a maximum monthly investment of £200, savers will end up with £1,227.53, including £27.53 in interest.
First Direct places just behind with a 7% AER over 12 months. The account allows a higher deposit of £300 per month, which totals up to £3,600 in savings over the course of a year.
At the end of the term, savers will have £3,736.50, including £136.50 in interest. Although First Direct's is lower, the longer term and higher deposit limit make it a potentially better option for amassing larger savings.
Other providers offering competitive interest rates on regular accounts include The Co-operative Bank with a 7% AER, , and .
Following the Bank of England's latest Base Rate cut to 4.25% this month, savers are being urged to lock in higher interest rates while they're still available.
Sarah Pennells, consumer finance specialist at Royal London, said: "In the coming days and weeks, it's likely we'll see rates on easy-access and fixed-term savings accounts begin to fall, meaning savers may need to shop around more actively to get the best return.
