Royal Bank of Scotland savings rates — compare every account, plus switch offers and guides

Who they are

Royal Bank of Scotland was founded by royal charter in Edinburgh in 1727 , making it one of the UK's oldest banks. It is a major retail and commercial bank based in Edinburgh, and one of the retail banking subsidiaries of NatWest Group, alongside NatWest and Ulster Bank. The bank has around 700 branches, mainly in Scotland, though there are branches in many larger towns and cities throughout England and Wales. If you live outside Scotland, it is worth knowing that RBS branches are concentrated in Scotland, so it suits Scottish customers and app-first banking better than people who want a branch in England or Wales.

The bank had a turbulent period during the 2008 financial crisis, requiring a large government bailout. In May 2025 the government sold its final shares, returning NatWest Group to full private ownership for the first time since 2008.

Savings accounts

Royal Bank of Scotland offers a range of savings products to suit different needs. Rates and terms are as shown on this page - always check the live figures before you apply.

The Digital Regular Saver pays 5.25% and is the headline rate in the current line-up. For those happy to lock money away, the Fixed Term Savings accounts offer 4.15% over one year and 4.75% over two years, with no access until maturity. Both require a minimum deposit of just £1.

On the ISA side, the Fixed Rate ISA at 1 and 2 years both pay 4.25%, requiring a minimum of £1,000 to open. If you want flexibility with your ISA, the Instant Access ISA pays 2.45% with no minimum. The Flexible Saver easy-access account carries a variable rate of 2.10%, while the First Saver - aimed at younger savers - pays 1.60%. A Stocks and Shares ISA is also available; bear in mind that investments carry risk and returns are not guaranteed.

All savings accounts listed here are covered by FSCS protection up to £120,000 per person - a step up from the standard £85,000 threshold following a recent increase to the scheme's limit.

Switching to Royal Bank of Scotland

RBS currently offers a £200 cash bonus for switchers on two accounts. The fee-free Select Account and the Reward Account (which carries a £2 monthly fee) both qualify. To receive the bonus on either account, you need to complete a full switch via the Current Account Switch Service, pay in £1,250 within 60 days of switching - which can be spread across multiple payments, but must remain in the account for 24 hours - and log into the Royal Bank mobile app within the same 60-day window. No deadline is shown for this offer, but these deals can be pulled or changed at any time, so it is worth confirming the terms are still live before you apply.

The RBS app also includes Round Ups savings, instant card freeze and unfreeze, and a Split the Bill tool.

Is it right for you?

Royal Bank of Scotland works well for savers who are also in the market for a current account switch bonus, particularly if you are based in Scotland and value branch access. The fixed-rate savings range is competitive, especially at the two-year term, and the Digital Regular Saver rate is worth a look if you want to build a savings habit month by month.

The easy-access Flexible Saver rate is modest, so if straightforward easy-access savings is your priority, it is worth comparing the wider market before committing.

Check the live rates shown on this page to see exactly where Royal Bank of Scotland stands right now - rates move regularly and the figures here are always kept up to date.