Regular Saver

Available exclusively to Co-operative Bank current account holders, Regular Saver offers a higher rate of interest compared with our other instant access savings accounts.

Account overview

Like the idea of an account that encourages you to save? Whether you’re wanting to save up for something special, or just want to get into a good savings habit, Regular Saver can help with that.

You’ll also get a higher rate of interest compared with our other instant access savings accounts. And for added peace of mind, you can access your money whenever you want.

With our Regular Saver Issue 1, you can:

  • Earn 7.00% interest (gross / AER variable)
  • Have the account for a 12 month term the 12 months will start from the date we accept your first deposit
  • Open with as little as £1, and save up to £250 per calendar month our monthly limit will hopefully encourage you to save regularly, whilst benefitting from the account’s interest rate
  • Change the amount you save each calendar month at any time – no minimum monthly deposit
  • Set up a standing order during the application process to help you start saving, although this is optional
  • Access your money at any time, whether that’s online, through our mobile app, by telephone, or in branch
  • Open it as a sole or joint account.

Please note:

  • You must already have one of our Co-operative Bank current accounts before you apply if you’re applying for a joint account, just one of you needs to have a current account with us
  • You must also be a UK resident aged 16 or over
  • You can only have one Regular Saver account of the same issue at any one time if you have a joint Regular Saver, you cannot open one on your own
  • To keep the account open, you must pay in at least £1 within 30 days of it being opened
  • You can pay into the account as often as you want, as long as you don’t pay in more than £250 in a single calendar month – if you exceed the maximum monthly limit, any amount over £250 will be returned to you
  • Your interest will be paid into your account at the end of the 12 month term. This interest and any savings you have in the account will then be automatically transferred to an instant access Smart Saver account this account pays a lower variable interest rate than the Regular Saver account.

Not the right account for you? Take a look at our other savings accounts.

The account summary information is displayed in the Summary Box below – you must read it before applying. You can also download this information as a PDF.

Regular Saver terms, conditions and summary box (PDF)

Summary box

Regular Saver Issue 1


gross / AER variable

Interest is calculated daily and will be paid into the account at the end of the 12 month term. If this date doesn’t fall on a Business Day, it will be paid on the next Business Day.

The 12 months will start from the date we receive and accept your initial deposit.

Yes, the interest rate is variable, which means it can go up or down.

We may change your interest rate for various reasons. Please see the ‘Changing these terms and ending this agreement’ section of our General Terms and Conditions for more details.

When we increase our interest rates, we’ll tell you about the change within 30 days after it’s happened.

When we decrease our interest rates, we’ll inform you by personal notice at least two months before we make the change.

Monthly deposit amount


Balance at end of 12 months


Interest earned


We have worked this out assuming:

  • You make 12 regular monthly deposits on the first day of each calendar month
  • The 12 months start on 1 January
  • We haven’t changed the interest rate in the 12 month period
  • You haven’t made any additional deposits or withdrawals.

Open an account

To open an account you must:

  • Be a UK resident
  • Be aged 16 or over.
  • Have either a Co-operative Bank Current Account, Current Account Plus, Privilege current account, Privilege Premier current account, Student current account, Cashminder account, Everyday Extra current account or any other account we specify in the future.

Please note:

  • You can only have one Regular Saver of the same issue at any one time
  • If you have an earlier issue of the Regular Saver you can still apply for this issue.

You can open an account:

  • Online
  • In branch
  • In sole or joint names
  • With a minimum deposit of £1 to be paid within 30 days.

Please note:

  • You don’t have to pay into the account each calendar month, however the maximum you can deposit each calendar month is £250.

How do I pay into this account?

You can:

  • Set up a monthly standing order
  • Transfer money from your Co-operative Bank accounts or other bank accounts
  • Pay in cash or cheques at a branch
  • Pay in cheques by post or at your local Post Office®.

How do I manage this account and get in contact?

  • You can manage your account through online banking, through our mobile app, over the phone, or in branch
  • You can also contact us over the phone or in branch.

Yes. You can make as many withdrawals as you like.

You can withdraw money:

  • Through online banking or our mobile app, by transfer to an account with us or another provider
  • In branch
  • By telephone banking
  • By requesting a bankers cheque there is a charge for this.

What happens at the end of the 12 month term?

At the end of the 12 month term your account will mature, and the balance, including any interest, will be put into an instant access variable rate Smart Saver account. The Smart Saver pays a lower rate of interest than the Regular Saver. The current interest rates on our variable rate savings accounts can be found on our savings hub, or by contacting us.

We’ll send you a letter when your 12 month term is coming to an end. It’ll remind you of your maturity date, provide details of the Smart Saver (including the interest rate), and let you know what options are available to you.

On maturity, you can access your money in branch, over the phone, by post, through online banking, and through our mobile app.

The Regular Saver account is subject to availability and may be withdrawn from sale at any time without notice.

If you are or have previously been made bankrupt, you are eligible to apply.

Interest earned from this account will count towards your Personal Savings Allowance. You may need to pay tax to HM Revenue and Customs if the total interest you earn is greater than your Personal Savings Allowance. Visit the Government’s website for more information.

Don't have a current account with us yet?

Our Regular Saver is exclusively for Co-operative Bank customers. So if you haven't already, you'll just need to open a current account with us first.

  • Standard Current Account - our no-fee current account.

  • Everyday Extra - our packaged bank account that comes with worldwide travel insurance, UK & European breakdown cover, and mobile phone insurance, all for just £15 per month. Exclusions and limitations apply.

  • Cashminder - for people with no credit history or a low credit score who want a basic bank account they can use online and on mobile.

  • Student bank account - comes with an interest-free overdraft you can ask to increase each year, starting at £1,400. Eligibility and T&Cs apply.

Apply for a Regular Saver account

To apply, you must:

  • Be a UK resident aged 16 or over
  • Have a Co-operative Bank current account if you’re applying for a joint account, just one of you needs to have a current account with us
  • Not already have a Regular Saver of the same issue.

Approval is based on an assessment of your personal circumstances.

To help protect you and ourselves against fraud, we’ll share the personal information from your application with fraud prevention agencies. The Co-operative Bank reserves the right to decline to accept any application and/or deposit.

Before you apply:

Please make sure you’ve read the summary box information, and read and saved copies of the important documents below.

If you’d like to set up a standing order during the application process, make sure you’ve got your account details ready.

Apply online

It will take around 10 minutes to complete this application.

New customers – check you have received your current account sort code and account number before applying for a Regular Saver. If you apply before your current account is open, your Regular Saver application may not be accepted.

To continue, confirm that you:

Please tick to confirm you've read all of the summary box information, and are eligible

You'll now be taken to the application form. Please note that both parties can withdraw funds and make transactions on this account.

Apply now

Apply in branch

If you’d prefer to speak to someone in person, you also have the option to apply in one of our branches.

Find your nearest branch

Important documents

Please read the important documents below and save copies of them for future reference.

Other ways you can save with us

If our Regular Saver account isn’t right for you, there are plenty of other ways to save with us.

Compare all of our savings accounts

Online Saver

2.65% gross / AER variable

An instant access account for existing customers who want to manage their savings online or through our mobile app.

Select Access Saver 2

Up to 4.09% gross / AER variable

A limited access account for those who want a higher interest rate if they don't withdraw, but have easy access to their money when they need it.

Co-operative Bank Fixed Term Deposit

Up to 4.53% gross / AER fixed (annually)

Monthly interest option available.

An account designed for those who want to lock away a lump sum for 1, 2 or 3 years, and earn a fixed rate of interest.

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Business day is usually Monday to Friday excluding bank holidays.

Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please read further information on the FSCS scheme here or visit their website.

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