Bank of Scotland savings accounts

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

Bank of Scotland's top savings rate of 4.1% is available on one of its cash ISA accounts.

Cash ISAs

Bank of Scotland's best cash ISA rate of 4.1% is slightly lower than today's market-best rate of 4.87%. Compare more ISAs up to 4.87%

Fixed-rate bonds

Bank of Scotland's best fixed-rate bond rate of 4% is slightly lower than today's market-best rate of 5%. Compare more fixed-rate bonds up to 5%

Business savings accounts

Bank of Scotland's best business savings account rate of 2.87% is significantly lower than today's market-best rate of 4.76%. Compare more business savings accounts up to 4.76%

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	Cash isas, fixed-rate bonds, business
Best cash ISA rate	4.1%
Best fixed-rate bond rate	4%
Best business savings account rate	2.87%
Fixed bond terms	1 year - 2 years
Opening options	Branch, website, mobile app, telephone
FSCS protection

Other popular accounts

• Bank of Scotland current accounts
• Bank of Scotland student accounts

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.

The bank does have a physical high street presence but not outside Scotland.

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 7 working days.

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

How do I decide which account is for me?

Firstly, you need to decide what you’re looking for in a savings account. Are you looking to save little and often, and do you need access to your cash? Or do you have a lump sum you could lock away for a year or more?

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.)

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

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

• Is Bank of Scotland safe?

  Eligible deposits with Bank of Scotland are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. However, be wary. The FSCS covers your deposits with the banking group as a whole, not the individual bank. Other banks included in the same Bank of Scotland plc banking licence include Halifax, Birmingham Midshires and Intelligent Finance.

  Bank of Scotland is authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

• How to open a Bank of Scotland savings account?

  All its savings accounts can be opened online, in a branch or over the phone.

  • You will need a document to prove your identity, such as a driving licence or passport.
  • You will need documents to prove your address for the last 3 years.

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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.