Our simple free instant access account
Please read the Summary Box below before you apply, this will give you key information about Instant Saver
Why choose Instant Saver?
Exclusively for our current account customers, aged 16 and over
Instant access to your money when you need it
Start saving with just £1
Apply online in less than 5 minutes
Account name: Instant Saver
What is the interest rate?
AER/Gross p.a. (variable)
Can Royal Bank of Scotland change the interest rate?
Yes, these rates are variable. They may be changed for any of the reasons set out in Term 9.2 of the Savings Account Terms (PDF, 501 KB), e.g. to take account of Bank of England base rate changes or changes in the rates paid by other banks. If the rates are going down we’ll give you at least 60 days’ notice. If they are going up, we’ll inform you before the change or shortly afterwards. Term 9.2 (PDF, 501 KB) contains details of the notice we’ll give you.
What would the estimated balance be after 12 months based on a range of deposits?
Initial deposit at account opening
Balance after 12 months
How do I open and manage my account?
You must be a UK resident aged 16 years or over and already have a current account with us, or apply for a current account with us at the same time.
We will also need your email address and mobile number to open your account.
You can open and manage your account on our mobile app, online, in branch or by telephone.
You can also pay money into your account at one of our cash deposit machines.
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.
Can I withdraw money?
Yes. No notice required. You can withdraw money:
By transfer to any other account based in the UK (online, by telephone or on the mobile app)
There are daily limits on the amount you can transfer from your account online, by telephone or on the mobile app.
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: The interest rate you are paid without the deduction of UK income tax.
p.a.: per annum (per year)
Get off to a fast start
Why not let us do the saving for you? Tell us you'd like a regular payment or an instant transfer in your application, and we’ll set it up for you – that’s one less thing to think about. It’s a great habit to start.
We'll send you an email when your statements are ready to view in Online Banking. You can check it whenever you want.
Ready to apply?
Remember, our Instant Saver is exclusively for our current account customers.
Before you start your application, we need to check a few things.
Do you have digital banking?
Financial Services Compensation Scheme
Your eligible deposits with Royal Bank of Scotland are protected up to a total of £85,000, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
Find out more about the scheme and how it protects your money.