Nationwide's Regular Saver account is helping savers grow their money with minimal effort - and it's one of the best options out there right now according to experts

Despite the ongoing decline in UK savings rates following cuts to the Bank of England's base rate, Nationwide Building Society's Regular Saver remains a strong contender, offering savers an almost market-leading 6.5% interest. Regular savings accounts typically necessitate depositing a fixed amount each month and making minimal or no withdrawals.

These accounts are ideal for disciplined savers looking to gradually build their savings while enjoying higher interest rates than standard accounts. Nationwide's Flex Regular Saver can be opened with as little as £1, with interest paid on the account's anniversary. Monthly deposits are limited to £200, allowing for a maximum total contribution of £2,400.

Based on current rates, this would generate £84.50 in interest over a year. The account is open to UK residents aged 16 or over who have a Nationwide Building Society current account.

This account offers more flexibility than what's usually expected from a 'regular' savings account, as up to three withdrawals can be made without penalty. However, after the fourth withdrawal, the interest rate will drop to 1.5%