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Manage your savings account
We're here to help you manage your savings account
Want to top up your savings pot or take some money out? Or maybe you need to reactivate your ISA or find out why you've seen 'DRS overfund' on your Digital Regular Saver statement. Here's all the information you need to help you manage your Royal Bank of Scotland savings account.
To get started, just choose your savings account from the list below.
Frequently Asked Questions
Yes, but the combination of lump sum deposit and standing order can't be more than £150 per calendar month.
No, but it helps keep you in the savings habit. You will still receive the highest interest rate on your balance up to £1000.
A maximum of £150 can be paid into the account in a calendar month, i.e 1st – 31st.
Yes, you’ll get the interest rate for the portion of your balance in each interest rate tier even if you stop saving however the standing order will help keep you in the savings habit.
Frequently Asked Questions
Interest will be paid on the first working day of each month and will be credited to your Limited Edition Saver account.
You can find the most recent interest rate for your Issue Number here. Not sure what your Issue Number is? You'll find it on the Information Sheet we sent to you when you opened your account in your Mailbox in the Mobile app or Digital Banking.
No, you can only have a Limited Edition Saver account held in your own name so it can't be turned into a joint account.
We’ll get in touch at least 30 days before your term is due to end. We'll either offer you another fixed rate term, or convert your account to a Primary Savings instant access account.
You'll still be able to use your Limited Edition Saver to make third party payments.
You can close your Limited Edition Saver account in the Mobile app or Digital Banking. Before you do, make sure you transfer any money to a different account first.
App available to customers aged 11+ with compatible iOS and Android devices and a UK or international mobile number in specific countries. Digital Banking available to customers aged 11+ with a Royal Bank of Scotland account. Rounds Ups is available to customers with an eligible current account, instant access savings account and the Mobile App. Once you’ve set it up, it’ll automatically work with all debit card and contactless device payments (in sterling).
Savings rates and terms
Want to check what interest rates your savings are earning, or need to take a quick look at your savings account terms? Here's the information you need.
Tools to help you save
Rounds Ups is available to customers with an eligible current account, instant access savings account and the Mobile App. Once you’ve set it up, it’ll automatically work with all debit card and contactless device payments (in sterling).
Manage your Savings FAQs
Yes, we may change the rate up or down. There are a few reasons for this, such as a change in the Bank of England base rate. You can find a full list of reasons for an interest rate change in section 9.2 of the Savings Account Terms. We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise we’ll tell you before or shortly after the change. You can find more details about how we’d tell you about a change in section 9.2 of the Savings Account Terms.
On 6th April 2016 the Personal Savings Allowance (PSA) launched which means every basic rate taxpayer (people who pay 20% tax on income) can earn £1,000 interest per tax year without paying tax on it. Higher rate taxpayers (people who pay 40% tax) get a £500 Personal Savings Allowance. Additional rate taxpayers, who pay 45% tax, don’t get any allowance.
The Personal Savings Allowance is in addition to your ISA allowance.
If you close or switch your current account with us in future, you'll only be able to withdraw money from your account in branch.
You can remove someone from your account if you hold a joint Current account or joint Savings account.
Before you apply to remove a party from your savings account, please read the following criteria:
- To remove a person from your account, you'll both need to provide consent and 1 form of ID along with a selfie from the front and side profile
- Proof of identity is required from both parties. Forms of identification accepted online will be a valid driving licence, passport, European ID or Biometric Residence Permit along with a selfie photo from the front and side profile.
- The party being removed from the account will then be invited to complete the application through our online form, which we'll send to them via email.
If the account you want to remove a party from has more than 2 account holders, you can't use the online service. and you'll need to visit your local branch.
Once you've completed the online process, you and the party being removed from the account will receive a confirmation email from: firstname.lastname@example.org
If you're registered for Digital Banking, in most cases you can close your savings account online. For instructions on how to close your savings account (including joint Instant Access accounts, Fixed Term Savings accounts and Instant Access ISAs), take a look at this answer in our support centre
Your eligible deposits held by a UK establishment of Royal Bank of Scotland are protected up to a total of £85,000, by the Financial Services Compensation Scheme. Any deposits you hold above the limit are unlikely to be covered.
Find out more (PDF, 3k KB) about the scheme and how it protects your money.
Investments through Royal Bank Invest may also be covered by the Financial Services Compensation Scheme in some scenarios.
Banking My Way
Banking My Way is a free service that you can use to make sure we know about any support or adjustments you might need to make banking easier.
The Banking My Way service is available to customers aged 16 or over in the mobile app or Digital Banking. For customers under 16, parental consent is required and information must be recorded in branch or over the phone.
Want to open another savings account?
If you're thinking about opening another savings account, take a look at all the options we've got to see which one might be right for you.