first direct offers 7% interest rate to savers in 2023

To apply for a Regular Saver, first direct says customers can download and log onto the bank’s app, or submit their application via online banking.

The first payment is taken from the 1st account on the day the Regular Saver is opened.

This is followed by another 11 monthly payments which can only be made by standing order from a 1st account.

Thankfully, first direct set up this arrangement for savers, so they will not have to worry about the administrative process.

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