Royal Bank of Scotland

Royal Bank of Scotland savings accounts

Royal Bank of Scotland offers a broad range of savings accounts with interest rates up to 6.17%.

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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 accounts

Table: sorted by interest rate
Royal Bank of Scotland's best easy access rate of 1.75% is significantly lower than today's market-best rate of 8%.
Name Product Account type Withdrawals Min. opening balance Interest rate Deposit protection Open via Incentive Apply link
Royal Bank of Scotland – Premium Saver
Variable
Instant access
£0
1.75% AER variable (on first £24,999)
FSCS logo
protected
Open via: website, mobile app, telephone
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Royal Bank of Scotland – Instant Access ISA
Cash ISA
Instant access
£0
1.75% AER variable
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Cash ISAs

Table: sorted by interest rate
Royal Bank of Scotland's best cash ISA rate of 4.85% is slightly lower than today's market-best rate of 5.71%.
Name Product Interest rate Minimum investment Interest paid Withdrawals Deposit protection Open via Incentive Table product description Apply link
Royal Bank of Scotland – 1 Year Fixed Rate ISA Issue 336
4.85% AER fixed until 02.01.25
£1,000
Yearly
Instant access (charge applies )
FSCS logo
protected
Open via: website, mobile app, telephone
Available until 5pm on 6th December 2023 for new customers and 11th December 2023 for existing customers. Offer can be withdrawn at any time. To apply, you must be 16+ and a UK resident. Early closure charges may apply.
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Royal Bank of Scotland – 2 Year Fixed Rate ISA Issue 337
4.65% AER fixed until 02.01.26
£1,000
Yearly
Instant access (charge applies )
FSCS logo
protected
Open via: website, mobile app, telephone
Available until 5pm on 6th December 2023 for new customers and 11th December 2023 for existing customers. Offer can be withdrawn at any time. To apply, you must be 16+ and a UK resident. Early closure charges may apply.
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Royal Bank of Scotland – Instant Access ISA
1.75% AER variable
£1
Yearly
Instant access
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Fixed-rate bonds

Table: sorted by interest rate
Royal Bank of Scotland's best fixed-rate bond rate of 4.9% is slightly lower than today's market-best rate of 5.85%.
Name Product Interest rate Invest Interest paid Withdrawals Open via Deposit protection Open via Incentive Table product description Apply link
Royal Bank of Scotland – 1 Year Fixed Term Savings Account Issue 212
4.9% AER fixed until 27.12.24
£1 - £5,000,000
Monthly
Instant access
Website, mobile app
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Royal Bank of Scotland – 2 Year Fixed Term Savings Account Issue 213
4.7% AER fixed until 29.12.25
£1 - £5,000,000
Monthly
Instant access
Website, mobile app
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Regular savings accounts

Table: sorted by interest rate
Royal Bank of Scotland's best regular savings account rate of 6.17% is lower than today's market-best rate of 8%.
Name Product AER Save Withdrawal notice Interest paid Deposit protection Open via Incentive Apply link
Royal Bank of Scotland – Digital Regular Saver
6.17% variable (on first £5,000)
£1 to £150 per month
None
Monthly
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Business savings accounts

Table: sorted by interest rate
Royal Bank of Scotland's best business savings account rate of 4.25% is lower than today's market-best rate of 5.7%.
Name Product Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Royal Bank of Scotland – Liquidity Manager 95 Day Notice Account
4.25% AER p.a. variable
Monthly
from £1
95 days notice
Open via: branch, website, telephone
Early withdrawals from Liquidity Manager Notice Accounts are not permitted.
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Royal Bank of Scotland – Liquidity Manager 35 Day Notice
3.25% AER p.a. variable
Monthly
from £1
35 days notice
Open via: branch, website, telephone
Early withdrawals from Liquidity Manager Notice Accounts are not permitted.
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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
FSCS protection

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:

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.

The pros and cons of banking with RBS

Pros

  • 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.

Cons

  • 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.

Bottom line

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.

Savings ratings

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

Our customer satisfaction scores ("Customers say") are based on a survey of 2,224 customers carried out in December 2022.

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.

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