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Savings accounts

Welcome to our Flexible Saver account

We will soon be reducing some of our interest rates, see the changes here.

Take a peek at Flexible Saver

A simple and flexible savings account for you to save what you can, when you can

Get instant access to your savings whenever you need them

Plus, you can top up with Round Ups (criteria apply)

How does it work?

Get off to a fast start

It's easy and quick. Just hit the apply button to get started. Once set up, you can choose when and how you want to save. We also have handy digital tools to help you reach your savings goals.

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Flex your savings when you need to

You can add a lump sum or set up a standing order or pay in what you want, when you want. It's up to you.

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Easy access to your cash

Withdraw your savings easily at anytime by using Digital Banking, the Royal Bank mobile app or pop along to your branch.

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Digital Banking available to customers with a Royal Bank of Scotland account. App available to customers with compatible iOS and Android devices and a UK or international mobile number in specific countries

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Account name: Flexible Saver

What is the interest rate?

Balance

£1 - £24,999
£25,000 - £99,999
£100,000 - £249,999
£250,000+

AER p.a. (variable)

1.60%
2.10%
2.50%
3.10%

Gross p.a (variable)

1.59%
2.08%
2.47%
3.06%
Interest is paid on a tiered basis which means you’ll earn one rate on your entire account balance. If, for example, you hold £150,000 in your account your interest rate will be 2.50% AER / 2.47% Gross p.a. (variable) on your entire account balance. Interest is calculated daily and paid on the first business day of the month and at account closure. You'll be able to see and access the interest in your account on the following day.

Can Royal Bank of Scotland change the interest rate?

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 (PDF, 501 KB).

What would the estimated balance be after 12 months based on a range of deposits?

Initial deposit amount

£1,000
£50,000
£150,000
£300,000

Balance after 12 months

£1,016.02
£51,049.97
£153,747.22
£309,309.82

Interest earned

£16.02
£1,049.97
£3,747.22
£9,309.82
This is only an illustration of what you could save and assumes that no further deposits or withdrawals are made, that there aren’t any changes to interest rates or tiers, and any interest earned stays in the account.

How do I open and manage my account?

  • To apply you must be a UK resident, aged 16+ and hold a Royal Bank current account, or apply for a Royal Bank current account at the same time.
  • We will need an email address and mobile number to open your account. You can update them online.
  • You can open and manage your account on our mobile app, online or by telephone.
  • To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.
  • You can pay money in by transfer from a current account or savings account in your name held with us or held with another bank (Online, by telephone or on the mobile app).
  • No minimum deposit is required to open the account; no minimum deposit needs to be made on a regular basis; and there is no maximum balance limit.
  • You can use Round Ups with Flexible Saver.

Can I withdraw money?

Yes, you can withdraw your money at anytime. Simply move the amount you want to your current account held with us using Digital Banking, mobile app, in branch or by telephone.

If you close or switch your current account with us in future, you will only be able to withdraw money from your account in branch.

Definitions

Banking can be confusing sometimes. Here's what some of the words we use mean.

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FAQs

Get ready to apply

Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.

First things first. Please take a look at the important legal info:

If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.

How your information might be used

It’s important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this biometric data is captured.

 

 

All okay? You’re nearly ready to start.

We need to do a few final checks with you. They’ll only take a minute.

Continue
Do you have our Royal Bank app on a mobile device?
If you're registered for our app on a mobile device, we can pre-fill some of your info, making the application process faster.
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Is the account just for you, or is it a joint application?
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Great, let's get your application started.

Remember, to apply for a Flexible Saver account, you must: 

  • Be a current account customer
  • Be aged 16 or over and a UK resident

Using a desktop or have the app on another device?

Simply scan the QR code with your mobile or tablet device that has the RBS app and we'll get you started.  

Can't scan the QR code?

Using your mobile or tablet device now?

If you're already using a device with the RBS app, select the 'Start your application' button below.

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Great, let's get your application started.

Remember, to apply for a Flexible Saver account, you must: 

  • Be a current account customer
  • Be aged 16 or over and a UK resident

Using a desktop or have the app on another device?

Simply scan the QR code with your mobile or tablet device that has the RBS app and we'll get you started.  

Can't scan the QR code?

Using your mobile or tablet device now?

If you're already using a device with the RBS app, select the 'Start your application' button below.

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Do you use Digital Banking?
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Log in to RBS Digital Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Digital Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.

Remember, to apply for a Flexible Saver, you must: 

  • Be a current account customer
  • Be aged 16 or over and a UK resident
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Log in now

Let’s get you signed up for Digital Banking

You’ll need to sign up for Digital Banking with us in order to apply for a savings account. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your RBS Debit Card, if you have one.

Once you’ve registered, select ‘Next’ to log in and apply for a Flexible Saver account. 

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Next

Log in to RBS Digital Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Digital Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.
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Log in now