First Direct Regular Saver Review

RequirementsSave £25 to £300 per month via standing order
Interest rate1%
Benefit:Great interest rate

UPDATE 2021: I no longer use this account as the interest rate has dropped to 1%. It is still a decent product but not one for me at the moment.

Regular savers are savings accounts where you make monthly deposits within a range defined by the bank and are unable to access it for twelve months. After twelve months, you get your money back along with a decent amount of interest.

The First Direct Regular Saver is literally the only reason that I keep my First Direct current account open.

It boasts a great interest rate that is fixed for twelve months, so I transfer the full £300 over to it every month via standing order.

This forms part of my low-risk cash saving plan along with my Club Lloyds Monthly Saver and my Marcus instant access savings account.

As I’ve said before, First Direct have great customer service, however I find their banking apps (and the sheer number of passwords I have to remember) to be a bit of a nuisance.


Great customer service and a decent interest rate for a regular saver. I’ve kept £1000 in my First Direct Current Account for years earning zero interest just so I am eligible for this baby.

Good pointsNot-so-good points
Decent interest rate (2.75%)Have to open a First Direct current account
Great customer serviceWebsite and banking app a bit clunky