First Direct Savings Account 2026 — Regular Saver, ISA and Rates

Part of our First Direct UK — Complete Guide 2026 hub.

First Direct offers a focused range of savings products, with the Regular Saver as its standout account. Available exclusively to 1st Account holders and historically offering one of the highest rates from any mainstream UK bank, the Regular Saver alone is a reason many people open a First Direct account.

First Direct Savings Products at a Glance

Rates change regularly. Figures above reflect firstdirect.com as of September 2026 — always verify the current AER at firstdirect.com/savings before opening.

First Direct Regular Saver

The Regular Saver is First Direct’s headline product and consistently features among the best regular savings rates in the UK:

• Exclusively for 1st Account holders — you must hold an active First Direct current account
• Maximum deposit: £300 per month (£3,600 over 12 months)
• Term: 12 months — interest is paid at maturity
• Rate: 7.00% AER fixed for the 12-month term, as of September 2026 — check the current AER on the First Direct website before opening
• Access: No withdrawals during the term without penalty

How much can you earn? At maximum deposits of £300/month over 12 months, the average running balance is approximately £1,950 (the sum of each month’s balance divided by 12). At 7.00% AER, that generates approximately £136 in interest — far more than a standard easy-access account on the same deposits.

The Regular Saver is best for people who can commit to saving a set amount each month and don’t need to access the funds within 12 months.

Bonus Savings Account

First Direct’s Bonus Savings Account is an easy access account that provides a higher rate for an initial introductory period, then reverts to a lower standard rate. As of September 2026, firstdirect.com lists a 3.35% AER bonus rate on balances up to £50,000, with a 1.05% AER standard rate outside the bonus period — always confirm the current figures before opening, as they change regularly. Key points:

• No minimum balance required
• Withdraw at any time without penalty
• Rate is variable — can change with Bank of England base rate moves
• Useful as a linked easy access account alongside your 1st Account

First Direct Cash ISA

The First Direct Cash ISA allows UK adults (18+) to save up to £20,000 per tax year (2026/27) without paying income tax on interest earned.

First Direct’s easy access Cash ISA has a variable rate (listed at 2.75% AER on firstdirect.com as of September 2026 — confirm the current rate before opening) and permits withdrawals at any time. A separate Fixed Rate Cash ISA is also available, listed at 4.50% AER as of the same date, which locks your rate for the term but restricts access.

For the full ISA allowance picture, see Cash ISA Guide 2026.

FSCS Protection — Important Note for HSBC Customers

First Direct operates as a division of HSBC UK Bank plc, meaning both share the same banking licence. This has a critical implication for FSCS savings protection:

If you hold savings at both First Direct and HSBC, your combined deposits count towards a single £120,000 FSCS limit (raised from £85,000 on 1 December 2025).

If your combined savings across First Direct and HSBC exceed £120,000, spread the excess to a separately licensed bank to maintain full FSCS cover.

How First Direct Savings Rates Compare

For the best easy access rates available now, see Best Easy Access Savings Accounts UK.

How to Open a First Direct Savings Account

Existing 1st Account holders:

1. Log in to the First Direct app or Internet Banking
2. Go to Savings
3. Select the account type and apply — most accounts open instantly

The Regular Saver in particular can only be opened after you hold an active 1st Account.

Related Guides

• First Direct UK — Complete Guide 2026
• First Direct Review 2026
• First Direct Fees 2026
• Best Easy Access Savings Accounts UK
• Cash ISA Guide 2026