Nationwide Building Society has announced a 6.5% interest rate AER on its regular savings account.

The Flex Regular Saver can be set up with as little as £1, with interest paid on the anniversary of opening.

A maximum of £2,400 can be deposited into the account over a 12-month period, with monthly contributions maxed at £200.

This means that a fully maxed out account would earn £84.50 in interest over a year, based on current interest rates.

Rachel Springall, finance expert at Moneyfactscompare , said: “Nationwide’s Flex Regular Saver pays a highly attractive rate of 6.50% on deposits.

"Unlike a few other regular savings accounts on the market, it allows savers to make three withdrawals without impacting the rate, which is incredibly helpful for those who may need to dip into their

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