Bank Accounts

⁵ Vantage is our free add-on for Classic and Platinum accounts. It pays 1.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) variable on balances from £1 up to and including £3,999.99, and 2.00% AER Annual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time.(1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) variable on any part of the balance from £4,000 up to and including £5,000. You won’t earn interest on any balance over £5,000. Vantage can also be added to existing Bank of Scotland Silver, Gold and Premier accounts.

No interest paid on balances over £5,000. To qualify, each calendar month simply pay at least £1,000 into your account, stay in credit (above £0) during the monthly billing period, and pay at least two different Direct Debits from your account. If in any month you don’t meet these criteria, you won’t earn any interest but you won’t be charged for having Vantage.

From 1 October 2020, the variable rates of interest you can earn on credit balances are changing. The current interest rate of 1.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (0.99% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.), payable on balances from £1 to £3,999.99, is changing to 0.60% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time./grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a. The current rate of 2.00% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.98% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.) payable on the part of any balance from £4,000 up to and including £5,000, is changing to 1.50% AERAnnual Equivalent RateThis illustrates what the interest rate would be if interest was paid and compounded once each year. This allows you to compare more easily what return you can expect over time. (1.49% grossGrossGross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HMRC. p.a.). Full details can be found in the Vantage Guide (PDF).

The requirement to publish the Financial Conduct Authority Service Quality Information for personal current accounts can be found here.

Switching your current account to us couldn’t be simpler. Find out more about the benefits of a Bank of Scotland current account

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Upgrading your Bank of Scotland current account to Platinum opens the door to a range of additional benefits from third party insurance providers. Monthly fees apply.

We have plenty of features and helpful information to assist you in getting the most out of your Bank of Scotland current account.