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MSE News: First Direct doubles interest on regular saver to 7% – how to get the new rate

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First Direct is doubling the interest rate on its regular savings account from 3.5% to 7% on Thursday 1 December. It's the highest rate we've seen on this type of account since 2012.

Read the full story:
'First Direct doubles interest on regular saver to 7% – here's how to get the new rate'

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Comments

  • london21
    london21 Posts: 2,142 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    edited 29 November 2022 at 1:59PM
    Wow can't wait for further details such as amount limit etc.

    I am currently on Santander 2.75% looks like I shall be moving funds to First direct. 

    just found it's 
    (7% on £25-£300/mth for 1yr)

  • I'm not going to open a FD current account just to get this regular saver, but it's nice to see some better rates popping up - perhaps others will follow. 
  • Sensory
    Sensory Posts: 497 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Drip feeding from a 2.81% easy account results in annual interest equivalent to ~5.08%, higher than any one-year fix for £3,600.
  • Brewer21
    Brewer21 Posts: 376 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Already got a regular saver with them, so another 5 months to go but at 7% 👍
  • What with HSBC RS going to 5% and First Direct RS to 7%, it's just a pity that M and S Bank pulled out of doing current accounts and linked RS's. Back in the day, and not  too long ago, those 3 were a triumvirate of market-beating RS providers.
  • jaypers
    jaypers Posts: 1,035 Forumite
    1,000 Posts Third Anniversary Photogenic Name Dropper
    Great news……half way through mine at 3.5%. Well done FD for increasing existing accounts. 
  • I only opened my reg saver with them last month.....great news.
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