Digital Banking
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Direct Saver
Earn 1.00% AER/Gross p.a. (variable) with our
online only instant access savings account
- No withdrawal penalties or charges
- Instant access to your money 24/7
- Easy to manage with Digital Banking
- Manage your savings on the move with our mobile banking apps for selected smartphones
- Yearly interest paid directly into your account
Opening an Direct Saver account
Important information - please read before you apply
- You need to be aged 18 or over and permanently resident in the UK to open an account.
- Important information if you're considering opening an account in England or Wales.
In order to prevent and detect fraud, the information provided in this application will be shared with fraud prevention agencies. If false or inaccurate information is provided and fraud is identified or suspected details will be recorded with these agencies to prevent fraud and money laundering.
It is important that you read the following documents carefully before you open your account. Please save or print a copy of each document for future reference:
Interest rates
| Balance | % AER (variable) | % Gross p.a. (variable) | % Net Rate p.a. |
|---|---|---|---|
| £1+ | 1.00% | 1.00% | 0.80% |
Interest paid annually.
Rates shown are correct as at 25 Jun 2012.
Previous savings interest rates
Common definitions
Annual Equivalent Rate (AER). This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate. This means the interest rate you are paid before the deduction of income tax.
Net Rate. This means the interest rate you are paid after the deduction of income tax.
Link this account to the ‘Your Savings Goals’ tool
Saving for a Rainy day or Holiday? Why not let us help you with our 4* 'Your Savings Goals' tool?
All Direct Saver accounts can link into the ‘Your Savings Goals’ tool.
The tool allows you to set your savings goals and track your progress.
Once your Direct Saver account is opened, log-in to Digital Banking and simply...
- Provide the details of the goal you are saving towards
- The tool calculates your ideal savings plan and
- You can track your progress each time you log-in to Digital Banking
You can only have one savings goal for each savings account. But there is no limit on the number of Direct Saver accounts you can open.
Our 'Your Savings Goals' tool has been upgraded to a 4* by Fairbanking for 2012/13
Financial Services Compensation Scheme
Your eligible deposits with Royal Bank of Scotland Plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Royal Bank of Scotland, Direct Line, the One Account, Child & Co, Drummonds and Holt's.
Any deposits you hold above the £85,000 limit are not covered.
Further information is available (PDF 3MB) or visit www.fscs.org.uk