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.
Easy access savings accountsRoyal Bank of Scotland's best easy access rate of 1.75% is significantly lower than today's market-best rate of 8%.
Cash ISAsRoyal Bank of Scotland's best cash ISA rate of 4.85% is slightly lower than today's market-best rate of 5.71%.
Fixed-rate bondsRoyal Bank of Scotland's best fixed-rate bond rate of 4.9% is slightly lower than today's market-best rate of 5.85%.
Regular savings accountsRoyal Bank of Scotland's best regular savings account rate of 6.17% is lower than today's market-best rate of 8%.
Business savings accountsRoyal Bank of Scotland's best business savings account rate of 4.25% is lower than today's market-best rate of 5.7%.
Overview of Royal Bank of Scotland savings
|Savings account types include||Easy access, cash ISAs, fixed-rate bonds, regular savers, business|
|Best easy access rate||1.75%|
|Best cash ISA rate||4.85%|
|Best fixed-rate bond rate||4.9%|
|Best regular saver rate||6.17%|
|Best business savings account rate||4.25%|
|Fixed bond terms||1 year 1 month - 2 years 1 month|
|Opening options||Branch, website, mobile app, telephone|
Other popular accounts
Didn’t find the account type you were looking for? Check our other guides:
Is it easy to switch to RBS?
RBS offers 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:
- 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.
- All of those features. On the go.
- Fingerprint Login.
- Easy PDFs. Print or forward a PDF of any transaction.
The pros and cons of banking with RBS
- 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.
- 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.
Whether you want to lock away your money for a fixed amount of time, or need to be able to access it whenever required, the broad range of RBS savings accounts means you should find one to suit your needs. Don’t forget to check our best savings reviews first though, to make sure RBS is right for you and see how it weighs up against other savings providers.
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