Access Saver

The flexible way to access your savings

At a glance

Interest rates

Features and benefits

Keep in mind

Withdrawals

Access

0.20% gross/AER variable for 12 months from account opening

  • Start saving from only £1
  • Unlimited withdrawals and deposits (with no loss of interest)
  • Instant access to your money via branch, phone, Internet Banking or Cashpoint® Card, which can be ordered over the phone or in branch
  • Eligible account for Save the Change® - save your pennies when you spend
  • Unlimited
  • Online
  • Branch
  • Phone

0.20% gross/AER variable for 12 months from account opening

Features and benefits

  • Start saving from only £1
  • Unlimited withdrawals and deposits (with no loss of interest)
  • Instant access to your money via branch, phone, Internet Banking or Cashpoint® Card, which can be ordered over the phone or in branch
  • Eligible account for Save the Change® - save your pennies when you spend

Keep in mind

Withdrawals

  • Unlimited

Access

  • Online
  • Branch
  • Phone

Summary Box - Access Saver

1. What is the interest rate?

It's a variable rate, as shown in the table below.

Your balanceAnnual interest
GrossAER
£1+ 0.20% 0.20%

Your interest is paid annually on the anniversary of the account opening.

2. Can Bank of Scotland change the interest rate?

Yes.

As this account pays a variable rate of interest the rate can change over time. For example we might review the interest rate if the Bank of England bank rate changes. We’ll always let you know of any planned changes to the rate. Our account conditions explain when and how we do this.

3. What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid.

Initial depositGross rateBalance after 12 months
£1000.00 0.20% £1002.00

This example assumes that:

  • You don’t withdraw any money and interest isn’t paid out of the account
  • The interest rate stays the same
  • You make your initial deposit payment on the day you open the account
  • You don’t make any further deposits

4. How do I open and manage my account?

This account can be opened and managed in branch, by phone or online.

Opening this account

  • You must be 16 or over and resident in the UK
  • Online applications must be made in your sole name but the account can be made joint in branch or over the phone once opened.
  • The minimum opening deposit is £1.

Managing this account

  • You can have multiple Access Saver accounts at the same time.

5. Can I withdraw money?

Yes.

You can make withdrawals from this account and there are no charges for doing so.

After 12 months the account will automatically change to an Instant Access Savings Account. See Instant Access Savings Account interest rates (PDF).

Before this happens, we'll contact you to explain your options and next steps.

6. Additional information

Gross rate means we won’t deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.

Save the Change®


Save the Change® makes saving so easy, you’ll forget you’re doing it.

Your money is protected by the FSCS


The Financial Services Compensation Scheme (FSCS) protects your money.

FSCS logo

Open an Access Saver today.

Please read the summary box before applying

Open an Access Saver

If you have got a Bank of Scotland easy access savings account, you can renew it into an Access Saver without the need to open a new account.

We recommend that you download and read the account conditions (PDF) carefully as they form a legal contract with us. If there is anything you do not understand, please contact us before you agree to them (as part of the application).

Please note:

Rates of interest are subject to change. Rates effective from 0.00am on 16/10/2018. For a definition of AER, Gross and other terms please view our savings glossary.