Best for
£125 switch incentive & linked saver
Royal Bank of Scotland savings accounts
Learn out more about one of the UK's 'big four' banks with our helpful guide.
What's in this guide?
£175 when you Switch and Stay with Royal Bank
- No monthly fee
- Easy to use mobile banking app
- Contactless Visa debit card
- Pay using Apple Pay and Google Pay
- T&Cs apply
Royal Bank of Scotland, commonly known as RBS, is one of the UK’s leading banks. RBS has around 700 branches, throughout Scotland, England and Wales. It also operates globally, serving around 24 million customers worldwide.
Read on to find out more about RBS, and find out whether you can see yourself banking with them.
Royal Bank of Scotland instant access savings accounts
Table: sorted by interest rate, promoted deals first
Cash ISAs
Table: sorted by interest rate, promoted deals first
Fixed-rate bonds
Table: sorted by interest rate, promoted deals first
What current accounts does RBS offer?
RBS currently offer four different current accounts:
- Select Account. This is RBS’s standard current account, offering everyday banking features.
- Select Silver Account. This account costs £10 per month, allowing access to preferential Travel Money rates, and European travel insurance.
- Select Platinum Account. This costs £17 per month, for all the features of the Silver Account plus additional benefits.
- Black Account. This account is £27 per month. It is RBS’s premium current account, offering an array of features and benefits such as worldwide insurance, car cover, and mobile phone insurance.
What savings accounts does RBS offer?
RBS currently offer two savings account for adults:
- Instant Saver. Simple instant access savings.
- Fixed Term Savings. This is a fixed interest rate accounts.
- First Saver. This is RBS’s children’s savings account. Scroll down to see more about RBS’s children’s savings accounts.
What about cash ISAs?
RBS currently offer two different cash ISAs:
- Instant Access ISA. Take advantage of tax-free savings of up to £20,000 – with full access to your money.
- Fixed Rate ISA. This account offers a fixed rate of return (0.75% for 2 years), with some access.
Does RBS offer any student or graduate accounts?
RBS currently offer one student and one graduate account:
- Student Bank Account. Arrange an interest free overdraft, and get 1/3 off coach travel for 4 years with national express.
- Graduate Bank Account. Interest free overdrafts of up to £2,000. Added benefits such as a tastecard (50% off your food bill).
Does RBS offer any savings accounts for children?
RBS offers a child current account:
- Revolve Bank Account. This simple child account is easy to manage via mobile app or online banking.
RBS also offers a child savings account:
- First Saver. RBS have created Pigby World – the account designed to teach kids about saving, while making it fun along the way. Watch videos, and follow interactive adventures on the Pigby Fair App.
Compare savings accounts similar to RBS
Is it easy to switch to RBS?
RBS offer a ‘Switch Guarantee‘, which simply means it will make the switchover as painless as possible. If you visit a branch they will be able to help you with:
- Transferring your payments from your old account (such as Direct Debits and Bill payments)
- Transferring any balance from your old account
- Closing your old account
They aim to have this all done within 7 working days.
How do I decide which account is for me?
You need to work out what it is you need from your bank account. Are you looking to put a bit of money away each month? Do you want to put some money away and restrict access to it? Are you after rewards or hoping to maximise interest?
You need to work out what you need before comparing the different offers available for certain types of bank account. Once you’ve done that, useful guidelines to compare include:
- 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 the add-ons or switching bonuses)
Does RBS offer online or mobile banking?
Yep, it offers both. Here are some of the basic features:
Online banking
- Check balances. For any type of account.
- Transfer money between accounts. In a matter of seconds.
- Pay bills and people. All within the online portal.
Mobile banking
- All of those features. On the go.
- Fingerprint Login.
- Easy PDFs. Print or forward a PDF of any transaction.
What are the benefits and drawbacks of banking with RBS?
The benefits
- Online and mobile banking. The RBS apps makes it simple to keep an eye on your finances.
- Flexibility. RBS offers a wide range of accounts for any sort of financial need.
The drawbacks
- Better rates elsewhere? Interest rates have risen slightly recently, but banks are typically slow to pass on the rise to savers. It helps to shop around to find out where you can get the best deal.
More guides on Finder
-
How to get a £200,000 loan
If you’re considering applying for a £200,000 personal loan, check out this guide which explains how to compare lenders and find the best deal.
-
How to get a £150,000 loan
If you’re considering applying for a £150,000 personal loan, check out this guide which explains how to compare lenders and find the best deal.
-
Monzo Premium account review
Digital challenger bank Monzo has launched a new Premium tier for its current account. We take a look at the cost and what’s on offer.
-
How to get a £100,000 loan
If you’re considering applying for a £100,000 personal loan, check out this guide which explains how to compare lenders and find the best deal.
-
Best instant access savings accounts for the over 50s UK 2020
Are you aged over 50 and looking for an easy access account for your savings? Our guide examines how you can choose the best option.
-
How many people are still using bank branches in the UK in 2020?
Are people still using bank branches? Is your area being affected by bank branch closures? Find out the latest data here.
-
Best 2 year fixed rate bonds in the UK 2020
If you’re planning to save your money into a fixed rate bond, we take a look at how you can find the best 2 year option.
-
The UK’s best home emergency cover in 2020
We’ve compiled a list of some of the best home emergency cover providers in the UK and the cover options available.
-
Best joint savings accounts in the UK 2020
Aiming to join forces with a partner to save for a shared financial goal? Then a joint savings account could be what you’re looking for.
Ask an Expert