Go paper-free
Amend paper-free preferences for your statements and correspondence.
Advantage ISA Saver
Our cash ISA for Vantage customers which pays more interest if you make fewer withdrawals.
Read the summary box and the account conditions (PDF, 622KB) before you apply.
Features and benefits
Let's break it down
Summary box for the Advantage ISA Saver
-
Earn 3.00% AER/2.96% tax-free variable interest on balances from £1 if 3 or less withdrawals are made in the 12 months after opening.
Earn 0.90% AER/tax-free variable interest on balances from £1 if 4 or more withdrawals are made in the 12 months after opening. This lower interest rate will apply from the month you make the 4th withdrawal until the end of the account year.
Interest is paid monthly, on the same date you open your account.
-
Yes. As this account pays a variable rate of interest it can change over time. We’ll always let you know of any planned changes to the rate. Our terms and conditions (PDF, 182KB) explain when and how we do this. For example, we might change it if it costs us more to run this account for you.
-
For example, if you deposit £1,000 when you open the account and make no withdrawals, the balance after 12 months will be £1,030.00.
If you deposit £1,000 when you open the account and withdraw £10 on the first day of the month for the first 4 months of the term, the balance after 12 months will be £973.75.
This assumes:
- the interest rate stays the same for 12 months
- you put money in the day you open the account and don’t add more money after that.
-
This account can be opened and managed:
- in branch
- by phone
- online
- on our app.
You must be 18 or over, resident in the UK for tax purposes, have a National Insurance number and hold a Bank of Scotland account with Vantage. This includes:
- Bank of Scotland Classic account with Vantage
- Bank of Scotland Silver account with Vantage
- Bank of Scotland Gold account with Vantage
- Bank of Scotland Platinum account with Vantage
- Bank of Scotland Premier account with Vantage.
If you have already saved in a cash ISA this tax year with Bank of Scotland, you’ll need to complete an ISA transfer.
You need to open this account with £1 or more. ISAs have an annual limit this tax year of £20,000 for new money, and you can’t pay more than this limit into any combination of permitted ISAs within the same tax year.
The account can only be opened in your sole name because cash ISAs cannot be joint accounts.
ISA regulations allow multiple cash ISAs to be funded in a tax year. However, the Bank of Scotland conditions only allow you to fund 1 cash ISA with us in a tax year.
-
Yes. You will get a higher rate of interest if you make 3 or less withdrawals in the 12 months from opening.
If you make 4 or more withdrawals, you’ll get a lower rate from the month you make the 4th withdrawal until the end of the account year.
If making an online transfer, it can only be made to an existing Bank of Scotland current account.
This is a flexible ISA which means you can withdraw money and put it back in without counting towards your annual ISA limit.
Any money you move into an account that isn't an ISA will lose its tax-free status. Tax treatment depends on your individual circumstances and may change in the future.
If you change your mind, you can cancel the account free of charge within 14 days of opening.
After 12 months, the account will automatically change to an ISA Saver. Before this happens, we'll contact you to explain your options and next steps.
-
Tax free variable is the rate of interest payable to you where your interest is exempt from income tax.
AER stands for Annual Equivalent Rate. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.
For more definitions, view our glossary.
Open an Advantage ISA Saver
You should read the summary box and the account conditions (PDF, 622KB) before you apply.
-
Do you want to apply offline?
If you’d prefer to speak to someone, give us a call or visit your nearest branch.
You might also like
Savings calculator
Use our calculators to help create a plan to reach your savings goals.
