Bank of Scotland savings accounts

Bank of Scotland offers a broad range of savings accounts with interest rates up to 5.5%.

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Bank of Scotland

Bank of Scotland offers a range of options for various types of savers.

Bank of Scotland's top savings rate of 5.5% is available on its regular savings account.

Easy access savings accounts

Table: sorted by interest rate
Bank of Scotland's best easy access rate of 4% is significantly lower than today's market-best rate of 7.49%.
1 - 5 of 6
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Bank of Scotland – Advantage ISA Saver
Cash ISA
Instant access
£1
4% AER variable
FSCS logo
protected
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Bank of Scotland – Advantage Saver
Variable
Instant access
£1
4% AER variable
FSCS logo
protected
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Bank of Scotland – Access Saver
Variable
Instant access
£1
1.45% AER variable (on first £9,999)
FSCS logo
protected
Open via: branch, website, mobile app, telephone
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Bank of Scotland – Access Cash ISA
Cash ISA
Instant access
£1
1.45% AER variable (on first £9,999)
FSCS logo
protected
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Bank of Scotland – Advantage Saver
Variable
Instant access
£1
1.05% AER variable
FSCS logo
protected
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Cash ISAs

Table: sorted by interest rate
Bank of Scotland's best cash ISA rate of 4.45% is slightly lower than today's market-best rate of 5.1%.
1 - 5 of 11
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Bank of Scotland – Fixed Cash ISA
4.45% AER fixed for 1 year
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
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Bank of Scotland – Fixed Cash ISA
4.45% AER fixed for 1 year
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
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Bank of Scotland – Fixed Cash ISA
4.35% AER fixed for 1 year
£500
Anniversary of account opening
Withdrawals not permitted
FSCS logo
protected
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Bank of Scotland – Fixed Cash ISA
4.35% AER fixed for 1 year
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
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Bank of Scotland – Fixed Cash ISA
4.05% AER fixed for 2 years
£500
Monthly
Withdrawals not permitted
FSCS logo
protected
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Fixed-rate bonds

Table: sorted by interest rate
Bank of Scotland's best fixed-rate bond rate of 4.45% is slightly lower than today's market-best rate of 5.5%.
1 - 5 of 8
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Bank of Scotland – Fixed Rate Bond
4.45% AER fixed for 1 year
£2,000 - £9,000,000
Monthly
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
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Bank of Scotland – Fixed Rate Bond
4.45% AER fixed for 1 year
£2,000 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Bank of Scotland – Fixed Rate Bond
4.35% AER fixed for 1 year
£2,000 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Bank of Scotland – Fixed Rate Bond
4.35% AER fixed for 1 year
£2,000 - £9,000,000
Monthly
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
Open via: branch, website, mobile app, telephone
Go to site
View details
Bank of Scotland – Fixed Rate Bond
4.05% AER fixed for 2 years
£2,000 - £9,000,000
Anniversary of account opening
Withdrawals not permitted
Branch, website, mobile app, telephone
FSCS logo
protected
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Regular savings accounts

Table: sorted by interest rate
Bank of Scotland's best regular savings account rate of 5.5% is significantly lower than today's market-best rate of 8%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
Bank of Scotland – Monthly Saver
5.5% fixed for 1 year (on first £3,000)
£25 to £250 per month
1 year bond
Anniversary of account opening
FSCS logo
protected
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Business savings accounts

Table: sorted by interest rate
Bank of Scotland's best business savings account rate of 5.01% is very slightly lower than today's market-best rate of 5.25%.
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Bank of Scotland – Term Deposit 4.9.25
5.01% AER fixed
On maturity
£10,000 - £5,000,000
04.09.25
Open via: website, telephone
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Bank of Scotland – 95 Day Notice Account
4.08% AER variable
Daily
£10,000 - £5,000,000
95 days notice
Open via: website, telephone
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What is Bank of Scotland's best savings account with the highest interest rate?

The best savings account depends on what you want from your savings. If you're after fast access to your money, then an easy-access account should suit you. However, if you're happy to lock your money away for a time to access a higher rate, then a fixed-rate bond is a good option.

Finally, if you're looking to maximise your returns and shield them from income tax, consider an ISA. Below, we've listed the different types of accounts Bank of Scotland offers, plus the highest interest rate currently available.

Savings account types include Easy access, cash ISAs, fixed-rate bonds, regular savers, business
Best easy access rate 4%
Best cash ISA rate 4.45%
Best fixed-rate bond rate 4.45%
Best regular saver rate 5.5%
Best business savings account rate 5.01%
Fixed bond terms 1 year - 2 years
Opening options Branch, website, mobile app, telephone
FSCS protection

Does Bank of Scotland offer online or mobile banking?

You can open and manage your accounts online with Bank of Scotland. You can see how much interest your savings are earning in its mobile app too.

It does have a physical high street presence but not really outside of Scotland. It doesn’t have branches in London, Manchester, Leeds or Liverpool for instance.

Is it easy to switch to Bank of Scotland?

The Bank of Scotland offers the Current Account Switch Service, so you should be able to completely move your current account within seven working days.

This includes transferring your salary, direct debits and standing orders. It even closes your old account.

How do I decide which account is for me?

Firstly, you need to decide what you’re looking for in a savings account. How often are you planning to draw out money? How much money can you afford to save each month?

You need to work out what you need before comparing the different offers available for certain types of savings accounts. Once you have done that, it’s useful to look at:

  • Interest rates
  • Fees (If there are any.)
  • Access to cash (If you need quick access, for instance.)
  • Rewards and loyalty schemes (If you’re into add-ons or switching bonuses.)

What are the pros and cons of banking with Bank of Scotland?

Pros

  • Online banking. Your Bank of Scotland savings account can be accessed from anywhere. Even though there’s no dedicated mobile app, the website is optimised to perform on any device type.
  • Flexibility. Bank of Scotland offers options for all types of savers. Instant access for smaller, rainy day savings. Fixed term for those looking to fatten a lump sum. Junior options for youngsters too.

Cons

  • Better rates elsewhere? Customers can get better interest rates elsewhere. If you’re happy to move your money, you might even look at other banks’ current account options. These sometimes offer really high rates for 12 months.
  • Not a widespread high street presence. It doesn’t really have a high street presence in England, so anyone who prefers banking face-to-face might prefer a different bank.

Customer service information for Bank of Scotland

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict: Is a savings account with Bank of Scotland worth it?

Whether you want to lock away your money for a fixed amount of time, or need to be able to access it whenever required, Bank of Scotland offers a range of savings accounts and other options to help you manage your money.

Don’t forget to check our other reviews first, though, to see how Bank of Scotland savings accounts weigh up against the competition in terms of rates, fees and perks.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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