Royal Bank of Scotland savings accounts

RBS offers a range of financial products which includes investments, credit cards, loans, insurance, mortgages and current accounts.

Under its savings banner, the bank also offers a range of options such as ISAs, fixed rate bonds, regular savings and easy access accounts, which can offer competitive rates both online and offline. However, it’s important to compare any RBS deals with the wider savings market before applying for any account.

Compare Royal Bank of Scotland savings accounts - Ordered by interest rate (AER)

  1. Great for
    Easy access withdrawals without notice or loss of interest
    Receiving quarterly interest paid into your account
    Easy to manage with the RBS mobile banking app
    But be aware that
    For balances below £25,000 lower tiered rates will apply starting from 0.50%.
  2. Great for
    Easy access withdrawals without notice or loss of interest
    Receiving quarterly interest paid into your account
    Easy to manage with the RBS mobile banking app
    But be aware that
    For balances above £25,000 higher tiered rates will apply starting from 0.75%

RBS Savings Guide

There is a range of options when it comes to choosing a savings account, and which is suitable depends on your needs and circumstances. For example, if you are happy to tie up your money for a specific period, then a fixed-rate account could be suitable.

However, if you need access to your cash and you’re seeking flexibility from your savings then an easy access account is likely to be a better option for you. You can increase the sum held in this when you want, and benefit from unlimited withdrawals.

The first step for any savings, however, should be an ISA. This is a savings account held in a tax-free ‘wrapper’ that benefits from tax-free interest, up to a certain annual allowance.

Whichever RBS savings account you choose, make sure you understand how it operates and any restrictions on the account.

The first £85,000 of any savings held with RBS is protected by the Financial Services Compensation Scheme (FSCS). Typically, this protection applies per bank, not per banking institution. In this case, if you also have savings with NatWest, you will be covered for deposits of up to £85,000 for this bank too.

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