All our savings accounts are for existing 1st Account customers only.

firstdirect.com › savings-and-investments › savings › compare

November 11, 2025 - Save £25 to £300 every month with our 12-month fixed rate account. Interest is calculated daily and paid after 12 months and the rate is fixed . You won’t be able to make partial withdrawals at any time during the 12 months. You can choose to close your account early, but if you do we’ll ...

Discussions

Is it stupid to open multiple high % savings accounts due to the monthly limit, or find a lower % with no limit?

You can absolutely min/max this if you want to. Open all the accounts you want, transfer money between them to meet the pay in requirements. Set up direct debits to Moneybox and Plum to meet direct debit requirements. You want every £ to be in the highest AER it can be. So yes have multiple regular savers and pay into them each month. If you have cash now, also open an easy access account with a good AER and then slowly move money from there over time into regular savers. More on reddit.com

r/UKPersonalFinance

May 8, 2025

First Direct Regular Saver Account with 7% Interest. Worth it?

I think they shut down the saver and transfer money to your main FD account. You can then reopen another saver if you wish More on reddit.com

r/UKPersonalFinance

June 18, 2023

How does the First Direct Regular Saver work?

It doesn't work quite like that. 7% is the AER. Annual Equivalent Rate. Interest is calculated daily. So for your last deposit of £300 for month 12 that money will only get 1/12 of 7%. As it's only been deposited for 1 month. You wouldn't get 7% of £300 as it's not deposited for a full year. The only £300 that gets the full 7% is your first deposit. So if you deposit £300 a month you effectively get half of the AER over the course of the year as the early and late deposits average out. So £126 interest and the £3600 you've deposited will be available after 12 months. At that point the product matures. It's a one year deal so doesn't roll over. If the deal is still in place you can start again with £300 a month then. But the £3726 is seperate. You can put that in a one year fixed account ( and get about 6% for locking away for a year). This would then mature at the same time as the regular saver and you could keep rolling over like that. It's not a swizz. This is how all interest bearing accounts work. If you put that £300 every month into an easy access account paying 7% you would get the same interest as the regular saver. The regular saver is just better as no easy access account pays 7%. So if you have £300 to save every month (say from your pay) a regular saver can be great. If you have £3600 as a lump sum you want to save for a year it's not really worth keeping it in a 4.5% savings account and drip-feeding into the regular saver. Better to put in the one year fixed account for 6%. More on reddit.com

r/UKPersonalFinance

July 13, 2023

First Direct doubles interest on regular saver to 7%

Are there any other banks offering a decent savings rate that you can chuck a lump sum into and not have the agg of monthly deposits or dds or is it just the Barclays £5k one? More on reddit.com

r/UKPersonalFinance

141

216

November 30, 2022

People also ask

Are there savings accounts designed for my business?

If you have a business current account, the chances are it pays 0% interest. So any businesses with cash stored, even just to pay the taxman, are missing out on interest. If you're a sole trader, you're likely to be able to save the business's cash in a personal savings account. It's best to do this, as you get the best rates. But if you've a limited company, then you'll need to use a specially designed business savings account.

moneysavingexpert.com

moneysavingexpert.com › home › savings

Best savings accounts: 4.5% easy access or 4.32% fixed rate

What is the top account for joint savings?

This is a commonly asked question, but most savings accounts can be held by two people – so actually the question should just be: "What is the best savings account?", which this guide is set up to answer. Except where noted, each of the accounts above can be set up as a joint account – so if you're looking to save with someone else, just head to our top easy-access accounts, top notice accounts and top fixed-rate accounts. Where an account can't be opened jointly, we've highlighted this in the relevant table.

moneysavingexpert.com

moneysavingexpert.com › home › savings

Best savings accounts: 4.5% easy access or 4.32% fixed rate

How do inflation and deflation affect my savings?

To really know how well your savings are doing, you have to look at it compared to the rate of inflation. Inflation is the measure of the rate at which prices increase, so if savings don't beat inflation after tax, they're losing you money. Are your savings 'losings'? (Spoiler: almost certainly, yes) A savings account that pays less than the rate of inflation is eroding your wealth. And with today's high inflation figures, most savings account can't match it. Here's an example using simple numbers of how inflation and interest interact... Imagine inflation is 10%. Things costing £1 this year w