Find out more about regular savings accounts
What is a regular savings account?
With a regular savings account, you can deposit money into the account each calendar month. Some regular savings accounts may reward you for your saving efforts with a bonus payment.
What are the benefits of a regular savings account with The Nottingham?
If you're ready to start saving regularly, our range of regular savings accounts will benefit you. As the name of this account suggests, you will be asked to deposit into your account every month – some of our accounts come with a bonus payment or competitive interest rates in place as an incentive.
For example, our Robin Hood Young Saver Issue 8 is designed to help children save steadily. Four money boxes can also be collected as their savings grow. Please see the account details for more information.
Regular savings FAQ
How is the interest on a regular savings account paid?
Interest is paid into a regular savings account annually. The date on which you will be paid interest will vary, depending on the type of regular savings account you have chosen. You will be able to find this information on the account factsheet.
Is my money safe in a regular savings account?
Yes, your money is safe in one of our regular savings accounts. The Financial Services Compensation Scheme (FSCS) is there to protect your money if your financial services provider goes out of business; you’ll normally get your money back within seven days. All of our savings accounts are FSCS protected up to £85,000 per depositor. FSCS is funded by the financial services industry, and is free to consumers. To find out more, ask at your local branch or go to FSCS.org.uk.
Do I have to save into the regular savings every month?
This depends on the terms of the account, some regular savings accounts require you to deposit a sum of money every month.
Can I save in more than one regular savings account?
Yes, you can have more than one regular savings account. The only restriction would be with a Help to Buy: ISA where you can only have one of those.
*We will pay your interest free of UK income tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The tax treatment of ISAs may also change. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was reinvested in the account each year. Interest rates are variable unless otherwise stated.
For non ISAs
*We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was re-invested in the account each year. Interest rates are variable unless otherwise stated.
** There's no guarantee that the current difference between our fixed rates and general rates will continue. General interest rates may fall below or rise above the fixed rate.