Savers can now earn six per cent interest through a new regular savings account available for 12 months.
The deal is among the top 10 rates currently on the market and can be opened with as little as £10.
Ecology Building Society has launched the Ecology Regular Saver, which pays a variable rate of six per cent gross/AER.
Interest is paid when the account reaches the end of its 12-month term.
Customers can deposit up to £200 each month and are allowed to make multiple payments, provided the total monthly limit is not exceeded.
Savers who deposit the maximum amount every month could build a pot of around £2,400 by the end of the term.
Moneyfactscompare.co.uk has awarded the account an Excellent product rating.
Caitlyn Eastell, personal finance analyst at Moneyfactscompare.co.uk, said: “Ecology Building Society has launched its new Ecology Regular Saver; this will appeal to savers looking to build a healthy savings habit. The account pays a top 10 rate at six per cent, for 12 months.”
Interest is paid when the account reaches the end of its 12-month term
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GETTYThe account can be opened and managed online, by phone, by post or through Ecology Building Society’s mobile app.
Applicants must be aged 18 or over, while the minimum opening deposit is £10.
Customers cannot make an early withdrawal unless they close the account.
Once the 12-month term ends, the money will automatically be moved into an easy-access account paying a significantly lower rate.
Customers cannot make an early withdrawal unless they close the account
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GETTYMs Eastell urged customers to review their savings when the regular saver reaches the end of its term to avoid leaving their money in the lower-paying account.
The new product has arrived while the Bank of England’s base rate remains at 3.75 per cent.
The Bank has kept the rate at this level since December 2025, with its most recent decision marking the fifth meeting in a row without a change.
Rate cuts had been expected during 2026, but concerns that the conflict in Iran could push inflation higher have led policymakers to take a more cautious approach.
Savers should also consider whether they may need to pay tax on the interest they earn
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GETTYHigher interest rates can encourage households to reduce spending and put more money into savings accounts offering stronger returns.
Savers should also consider whether they may need to pay tax on the interest they earn.
Money held in a cash ISA can earn interest free from tax. The current annual ISA allowance is £20,000, but this will fall to £12,000 from April 2027.
People aged 65 and over will be exempt from the reduction, which was confirmed in last year’s Budget.
With the allowance due to fall, savers may want to use the existing £20,000 limit while it remains available.