Smart Start for children

Give your child a great start to managing their money with Smart Start, our Spending and Savings Account for 11 to 15 year olds with parental oversight.

More about Smart Start

Savings calculator

Find out how much you need to put away each month to reach your savings target or calculate the future value of your savings. You can also work out how long it will take you to hit your goal. 

Try out our calculator

Savers Prize Draw

Saved at least £5,000? Register for your chance to win up to £100,000 in our monthly draw. Visit the prize draw page for full draw rules. 

Find out how to register

The Base Rate change

On 3 August 2023, the Bank of England announced an increase in the Bank of England Base Rate from 5.00% to 5.25%.

About the Base Rate change

Compare our range of savings accounts

  • Account name

    Interest

    Minimum opening balance

    How long the account stays open for

    Withdrawals

    More information

    Account name

    Interest

    4.15% AER/tax free fixed for the 1 year term. 

    4.00% AER/tax free fixed for the 2 year term.

     

    An extra 0.20% AER/tax free for the 1 year term or 0.05% AER/tax free for the 2 year term will be added if you already hold a Bank of Scotland Personal Current Account that has been open for a minimum of 40 days.

     

    Choose to have interest paid after each year or each month.

    Minimum opening balance

    £500

    How long the account stays open for

    Until the end of the fixed term. Then your account will change to an ISA Saver.

    Withdrawals

    None. You can close the account early or transfer money to another ISA but you would be charged.

    More information

    Account name

    Interest

    4.15% AER/gross fixed for the 1 year term. 

    4.00% AER/gross fixed for the 2 year term. 

     

    An extra 0.20% AER/gross for the 1 year term or 0.05% AER/gross for the 2 year term will be added if you already hold a Bank of Scotland Personal Current Account that has been open for a minimum of 40 days.

     

    Choose to have interest paid after each year or each month.

    Minimum opening balance

    £2,000

    How long the account stays open for

    Until the end of the fixed term. Then your account will change to an Instant Access Savings Account.

    Withdrawals

    None. You can close the account early but you would be charged.

    More information

    Account name

    Interest

    5.50% AER/gross fixed.

    Interest is paid after a year.

    Minimum opening balance

    £25 to £250 a month

    How long the account stays open for

    1 year. Then your account will change to an Instant Access Savings Account.

    Withdrawals

    Unlimited

    More information

    Account name

    Instant Access Savings Account

    If you have a Fixed Rate Bond, Access Saver, Monthly Saver or Advantage Saver account with us, it will change into this account at the end of its term.

    Interest

    1.45% AER/gross on balances from £1 - £9,999.

    1.50% AER/gross on balances from £10,000 - £49,999.

    1.80% AER/gross on balances of £50,000 or more.

    The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

    Minimum opening balance

    £1

    How long the account stays open for

    No end date

    Withdrawals

    Unlimited

    More information

    You cannot apply directly for this account

    Instant Access Savings Account

    Account name

    ISA Saver

    If you have a Fixed Cash ISA, Access Cash ISA, or Advantage ISA Saver with us, it will change into this account at the end of its term.

    Interest

    1.45% AER/tax free on balances from £1 - £9,999.

    1.50% AER/tax free on balances from £10,000 - £49,999.

    1.80% AER/tax free on balances of £50,000 or more.

    The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

    Minimum opening balance

    £1

    How long the account stays open for

    No end date

    Withdrawals

    Unlimited

    More information

    You cannot apply directly for this account

    ISA Saver

    For a definition of AER, gross and other terms, view our savings glossary.
    Tax treatment depends on your individual circumstances and may change.

  • ISAs can be confusing. Use our guide to ISAs to find out how they work.

    Already have an ISA elsewhere? You can transfer your existing ISA to us.

    Account name

    Interest

    Minimum opening balance

    How long the account stays open for

    Withdrawals

    More information

    Account name

    Interest

    4.15% AER/tax free fixed for the 1 year term. 

    4.00% AER/tax free fixed for the 2 year term.

     

    An extra 0.20% AER/tax free for the 1 year term or 0.05% AER/tax free for the 2 year term will be added if you already hold a Bank of Scotland Personal Current Account that has been open for a minimum of 40 days.

     

    Choose to have interest paid after each year or each month.

    Minimum opening balance

    £500

    How long the account stays open for

    Until the end of the fixed term. Then your account will change to an ISA Saver.

    Withdrawals

    None. You can close the account early or transfer money to another ISA but you would be charged.

    More information

    Account name

    Interest

    4.00% AER/3.93% tax free variable monthly if you make 3 or less withdrawals 

    1.35% AER/1.34% tax free variable monthly if you make 4 or more withdrawals.

    Interest is paid monthly.

    Minimum opening balance

    £1

    How long the account stays open for

    1 year. Then your account will change to an ISA Saver.

    Withdrawals

    Unlimited.

    If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the 4th withdrawal until the end of the account year.

    More information

    You need a Bank of Scotland current account with Vantage to open this account.

    Advantage ISA Saver

    Account name

    Interest

    1.45% AER/tax free on balances from £1 - £9,999.

    1.50% AER/tax free on balances from £10,000 - £49,999. 

    1.80% AER/tax free on balances of £50,000 or more.

    Interest is variable and paid after a year. Rate applies to the full balance.

    Minimum opening balance

    £1

    How long the account stays open for

    1 year. Then your account will change to an ISA Saver.

    Withdrawals

    Unlimited

    More information

    Account name

    Interest

    3.15% AER/tax free variable.

    Interest is paid after each year.

    Minimum opening balance

    £1

    How long the account stays open for

    Until the child's 18th birthday. Then the account will change to an adult Access Cash ISA.

    Withdrawals

    None until the child is 18.

    More information

    Account name

    ISA Saver

    If you have a Fixed Cash ISA, Access Cash ISA, or Advantage ISA Saver with us, it will change into this account at the end of its term.

    Interest

    1.45% AER/tax free on balances from £1 - £9,999.

    1.50% AER/tax free on balances from £10,000 - £49,999.

    1.80% AER/tax free on balances of £50,000 or more.

    The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

    Minimum opening balance

    £1

    How long the account stays open for

    No end date

    Withdrawals

    Unlimited

    More information

    You cannot apply directly for this account

    ISA Saver

    For a definition of AER, gross and other terms, view our savings glossary.
    Tax treatment depends on your individual circumstances and may change.

  • Account name

    Interest

    Minimum opening balance

    How long the account stays open for

    Withdrawals

    More information

    Account name

    Smart Start

    For 11 to 15 year olds who want to save, spend and learn with parental oversight.

    As part of Smart Start, the child gets a savings account and a current account.

    Interest

    3.15% AER/3.11% gross on balances from £1 - £1,000.

    1.45% AER/1.44% gross on any excess above £1,000.

    Interest on savings account only. Interest is variable and is paid after each month.

    Minimum opening balance

    £1

    How long the account stays open for

    After the child’s 18th birthday, the savings account will change to an Access Saver and the Spending Account will change to a Classic Account.

    Withdrawals

    Unlimited

    More information

    You need a Bank of Scotland current account with Vantage to open this account for your child.

    Smart Start

    Account name

    Children's Saver

    For adults who want to save for a child aged 15 and under.

    Interest

    3.15% AER/3.11% gross on balances of £1 - £5,000.

    1.45% AER/1.44% gross on any excess above £5,000.

    Interest is paid monthly and is variable.

    Minimum opening balance

    £1

    How long the account stays open for

    Until the child's 16th birthday. Then the account will change to an adult Access Saver.

    Withdrawals

    Unlimited

    More information

    Account name

    Junior Cash ISA

    For under 18s who want to save for the future.

    Interest

    3.15% AER/tax free variable.

    Interest is paid after each year.

    Minimum opening balance

    £1

    How long the account stays open for

    Until the child's 18th birthday. Then the account will change to an adult Access Cash ISA.

    Withdrawals

    None until the child is 18.

    More information

    Account name

    Instant Access Savings Account

    If you have a Fixed Rate Bond, Access Saver, Monthly Saver or Advantage Saver account with us, it will change into this account at the end of its term.

    Interest

    1.45% AER/gross on balances from £1 - £9,999.

    1.50% AER/gross on balances from £10,000 - £49,999.

    1.80% AER/gross on balances of £50,000 or more.

    The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

    Minimum opening balance

    £1

    How long the account stays open for

    No end date

    Withdrawals

    Unlimited

    More information

    You cannot apply directly for this account

    Instant Access Savings Account

    For a definition of AER, gross and other terms, view our savings glossary.
    Tax treatment depends on your individual circumstances and may change.

    Looking for more?

    View our full range of youth and student accounts.

    Youth and student accounts
  • Savings offer steady growth and you can earn variable or fixed interest on the money you put aside. The general rule is to have three months’ worth of living expenses saved up in an instant access savings account so you can cover unexpected costs. 

    Investments can be another way to help your money grow. We have a range of investments products for you to choose from. 

    Stocks and Shares ISA

    Ideal if you’re wanting to pick your own stocks and shares, funds and more. Invest up to £20,000 per tax year and pay no UK tax on profits. 

    Stocks and Shares ISA

    Investment ISA

    Invest up to £20,000 per tax year and pay no UK tax on profits. You can select between a low, medium or high risk fund. 

    Ready-made Investments

    Please remember that the value of all investments can fall as well as rise, and you may get back less than you invest. If you’re not sure about investing, seek financial advice. Tax treatment depends on personal circumstances and may be subject to change.

Account name

Interest

Minimum opening balance

How long the account stays open for

Withdrawals

More information

Account name

Interest

4.00% AER/3.93% gross variable interest if you make 3 or less withdrawals.

1.35% AER/1.34% gross variable if you make 4 or more withdrawals.

Interest is paid monthly.

Minimum opening balance

£1

How long the account stays open for

1 year. Then your account will change to an Instant Access Savings Account.

Withdrawals

Unlimited.
If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the 4th withdrawal until the end of the account year.

More information

You need a Bank of Scotland current account with Vantage to open this account.

 

You can have up to five Advantage Saver accounts. You can name each one to help you save for different things.

Advantage Saver

Account name

Interest

4.00% AER/3.93% tax free variable monthly if you make 3 or less withdrawals.

1.35% AER/1.34% tax free variable monthly if you make 4 or more withdrawals.

Interest is paid monthly.

Minimum opening balance

£1

How long the account stays open for

1 year. Then your account will change to an ISA Saver.

Withdrawals

Unlimited. 

If you make 4 or more withdrawals, you’ll get a lower interest rate from the month you make the 4th withdrawal until the end of the account year.

More information

You need a Bank of Scotland current account with Vantage to open this account.

Advantage ISA Saver

Account name

Interest

1.45% AER/tax free on balances from £1 - £9,999.

1.50% AER/tax free on balances from £10,000 - £49,999. 

1.80% AER/tax free on balances of £50,000 or more.

Interest is variable and paid after a year. Rate applies to the full balance.

Minimum opening balance

£1

How long the account stays open for

1 year. Then your account will change to an ISA Saver.

Withdrawals

Unlimited

More information

Account name

Access Saver

If you have a Smart Start savings account with us, it will change into this account at the end of its term.

Interest

1.45% AER/gross on balances from £1 - £9,999.

1.50% AER/gross on balances from £10,000 - £49,999.

1.80% AER/gross on balances of £50,000 or more.

Interest is variable and paid after a year. Rate applies to the full balance.

Minimum opening balance

£1

How long the account stays open for

1 year. Then your account will change to an Instant Access Savings Account.

Withdrawals

Unlimited

More information

You can have up to five Access Saver accounts. You can name each one to help you save for different things.

Access Saver

Account name

Smart Start

As part of Smart Start, the child gets a savings account and a current account.

 

Interest

3.15% AER/3.11% gross on balances from £1 - £1,000.

1.45% AER/1.44% gross on any excess above £1,000.

Interest on savings account only. Interest is variable and is paid after each month.

Minimum opening balance

£1

How long the account stays open for

After the child’s 18th birthday, the savings account will change to an Access Saver account and the Spending Account will change to a Classic Account.

Withdrawals

Unlimited

More information

You need a Bank of Scotland current account with Vantage to open this account for your child.

Smart Start

Account name

Instant Access Savings Account

If you have a Fixed Rate Bond, Access Saver, Monthly Saver or Advantage Saver account with us, it will change into this account at the end of its term.

Interest

1.45% AER/gross on balances from £1 - £9,999.

1.50% AER/gross on balances from £10,000 - £49,999.

1.80% AER/gross on balances of £50,000 or more.

The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

Minimum opening balance

£1

How long the account stays open for

No end date

Withdrawals

Unlimited

More information

You cannot apply directly for this account

Instant Access Savings Account

Account name

ISA Saver

If you have a Fixed Cash ISA, Access Cash ISA, or Advantage ISA Saver with us, it will change into this account at the end of its term.

Interest

1.45% AER/tax free on balances from £1 - £9,999.

1.50% AER/tax free on balances from £10,000 - £49,999.

1.80% AER/tax free on balances of £50,000 or more.

The interest rate is variable. The rate applies to the full balance. Your interest frequency will stay the same as it was on your previous account.

Minimum opening balance

£1

How long the account stays open for

No end date

Withdrawals

Unlimited

More information

You cannot apply directly for this account

ISA Saver

For a definition of AER, gross and other terms, view our savings glossary.
Tax treatment depends on your individual circumstances and may change.

Savings allowances and tax

Make sure you understand how much you can earn in interest before you’re liable to pay tax.

 

Personal Savings Allowance (PSA)

The ISA allowance


Your money is protected

The Financial Services Compensation Scheme (FSCS) protects eligible deposits with us. To find our more you can visit our FSCS page, or the FSCS' website.

FSCS Protected

Important information

Rates of interest are subject to change. You can check when our rates have changed.