What is Vantage?
Is your current account often in credit? Then you could be missing out on earning interest.
Vantage is our free add-on for current accounts that pays you 3% AER (2.96% Gross) variable on balances of £3,000 - £5,000, interest is paid monthly.
Don't worry if your balance isn’t always that high, we still pay interest at a lower rate on smaller balances. Bear in mind that you won’t earn interest on any balance over £5,000.
If you have a Classic, Silver, Platinum, Gold or Premier Account, you can add Vantage to it.
Qualifying for Vantage
It is straightforward, simply:
- pay at least £1000 into your account each month, and
- stay in credit (above £0).
There is no requirement to pay out any regular direct debits.
Vantage Interest Rates
|Balance||Interest Paid Monthly|
|AER %||Gross p.a. %||Net %|
|£3,000 up to £5,000||3.00||2.96||2.37|
AER is Annual Equivalent Rate - this illustrates what the interest rate would be if interest was paid and compounded once each year. This allows individuals to compare more easily what return they can expect over time.
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).
More information about Vantage
Please be aware we are making some changes from 22 November 2015 to the conditions of our bank accounts, read the Changes to your Bank Account Conditions section of the Bank of Scotland Bank Account conditions for full details.