Regular Saver Calculator: What Will a Monthly Saver Really Pay You?
Free UK regular saver calculator: see the real interest a monthly saver pays you over 12 months and the effective return on your money, because the headline rate only counts on each instalment for the months it sits in the account.
Regular savers from banks like First Direct, Monzo, Nationwide and Lloyds advertise punchy rates of 6 or 7 percent, but you drip money in month by month, so the headline rate only ever applies to each payment for the months it actually sits there. Your real return on the total you save lands closer to half the headline rate. This tool works out the pounds you will actually earn, and what that is worth as a flat rate on your money.
Work out what your regular saver really pays
We add interest month by month: each payment earns the headline rate only for the months it sits in the account, and the interest is added once at the end, which is how UK regular savers actually work. Figures are before any tax. Interest counts towards your Personal Savings Allowance, but most regular savers pay too little to push a basic-rate saver over it. Always check the provider's current terms, minimum payments and whether missed months are allowed.
