Cash ISAs
Bank of Scotland savings accounts
Bank of Scotland offers a broad range of savings accounts with interest rates up to 5.5%.
Bank of Scotland offers a range of options for various types of savers.
Bank of Scotland's top savings rate of 3.65% is available on one of its cash ISA accounts.
Cash ISAs
Table: sorted by interest rate
Bank of Scotland's best cash ISA rate of 3.65% is slightly lower than today's market-best rate of 4.35%.
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How we picked theseFixed-rate bonds
Table: sorted by interest rate
Bank of Scotland's best fixed-rate bond rate of 3.65% is slightly lower than today's market-best rate of 4.52%.
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How we picked theseBusiness savings accounts
Table: sorted by interest rate
Bank of Scotland's best business savings account rate of 2.87% is significantly lower than today's market-best rate of 4.55%.
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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 | Cash isas, fixed-rate bonds, business |
|---|---|
| Best cash ISA rate | 3.65% |
| Best fixed-rate bond rate | 3.65% |
| 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
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?
Pros
- Online banking. Your Bank of Scotland savings account can be accessed from anywhere, through online banking and the Bank of Scotland app.
- 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? Savings rates are often not the most competitive, and you may find better interest rates elsewhere.
- Not a widespread high street presence. Its branches are based in Scotland, which is fine if you live there, less so if not.
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 is provided by Defaqto. In other cases, Finder has sourced data directly from providers.
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