This comparison simply includes all savings accounts.
Bank Of Scotland Current Account
Why we like it: Earn 1.50% AER (variable) interest on balances up to a maximum of £20,000. Up to 3% CASHBACK on various household bills. Monthly fee of £5. Must pay in £500 pm.
Why we like it: 0.50% AER (variable) payable on your entire balance up to £2,000. Linked to instant access savings account currently paying 1.00% AER, paid quarterly. Zero transaction fees wherever you spend worldwide (arranged and un-arranged lending, other providers & other fees and interest may still apply). Apple Pay & Google Pay enabled contactless debit card. Rated ‘outstanding’ by Moneyfacts. Must be 18 or older and a UK resident. No account fee. No minimum funding required to open account or requirement to pay in regularly
Compare Bank of Scotland Current Accounts
Bank of Scotland offer a range of current accounts for all needs. You can add the free ‘Vantage’ reward to any of their accounts, which allows you to earn earn 3% AER (2.96% Gross) variable interest on your balance of £3,000 - £5,000.
To qualify for this, you must pay at least £1000 into your account each calendar month, stay in credit (above £0) during the monthly billing period and pay at least two different Direct Debits from your account each calendar month. This is a great option if you can meet the requirements, as otherwise Bank of Scotland does not pay interest on your balance.
All Bank of Scotland accounts offer the following:
- Access to Internet and Mobile Banking, 24-hour telephone services as well as any of their branches in Scotland
- A great range of tools you can add to your account, such as control to stop you going overdrawn
- A VISA debit card enabled for contactless payments
- Current Account Switch Guarantee
- Free mobile text alerts
- Arranged Overdraft
Their accounts include:
Classic Account
This is a basic bank account which does everything you would expect from a standard account, such as making payments and setting up Direct Debits.
This account comes with an overdraft with a £25 buffer at 0% EAR variable interest. The overdraft interest rate on the remainder would be 19.89% EAR variable. A monthly overdraft usage fee of £6 does apply.
Silver Account
This account comes with a charge of £9.95 a month but comes with added value benefits.
These include:
- European travel insurance for you and your family including winter sports cover (for account holders under 65)
- AA breakdown cover with roadside assistance and accident management
- Mobile phone insurance
- Card loss assistance
This account comes with a 0% interest buffer of £50 and the remainder will be 19.89% EAR variable. A Monthly Overdraft Usage Fee of £6 will apply.
Platinum Account
This account comes with a charge of £17 a month but comes with added value benefits. These include:
- Worldwide travel insurance for you and your family including winter sports cover (for account holders under 80)
- AA breakdown cover with roadside assistance, relay, home start and accident management
- Mobile phone insurance
- Card loss assistance.
This account comes with a 0% interest rate on £300 and the remainder will be 19.89% EAR variable. A Monthly Overdraft Usage Fee of £6 will apply.
Overall Bank of Scotland offer some great options, particularly due to their optional ‘Vantage’ add-on which allows you to earn interest on any of these accounts. Users who have separate insurance policies and desire a higher rate of 0% interest free overdraft could save with the Silver and Platinum accounts.
