Digital bank first direct is offering a "market-leading" 7% interest rate on its regular savings account. The rate is available to the bank's new and existing 1st current account customers.

Regular savings accounts typically require people to deposit a set amount each month and make minimal to no withdrawals. Praising first direct's deal, Rachel Springall, finance expert at Moneyfactscompare.co.uk , said: “A regular savings account with a term of 12 months could be a great choice, particularly for consumers who have a goal in mind or want to improve their financial wellbeing." She added that the "top fixed rate deal" from first direct with a "market-leading return" of 7% is a "great choice for savers looking to build a nest egg over the year".

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