Get rewarded for saving regularly

Savings Builder account

Why choose a Savings Builder?

Earn up to 1.50% AER/Gross p.a. (variable) when you grow your savings by £50 or more each month

Flexibility when you need it. If you can't grow your savings by £50 in a month, it just means you won’t earn interest for that month

Exclusively for our current account customers, aged 16 and over

Summary Box

Account name: Savings Builder

What is the interest rate?

Can Royal Bank of Scotland change the interest rate?

Yes, these rates are variable. We will give you at least 60 days notice if the rates are going down and will let you know before or shortly after the changes, if they are increasing. For more information on if and when the rates will change and how it will affect you, please see 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?

How do I open and manage my account?

  • You can open and manage your account in branch, online and by telephone.
  • We will need your email address and mobile number to open your account.
  • No minimum deposit is required to open the account; and there is no maximum balance limit.
  • Each month your balance must grow by at least £50 to earn interest. If your balance grows by less than £50 in any month, you will not earn interest.
  • We wanted to let you know we are making changes to our Savings range from October 16th 2019. From this date you will not be able to make payments directly from your savings account. To do this, you will need to move money into your current account and make the payments from there.

Your eligibility

You must be a UK resident aged 16 years or over.

You must already have a current account with us, or apply for a current account with us at the same time.

You can only have one sole Savings Builder account, and one joint Savings Builder account.

Can I withdraw money?

Additional information

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 to your new savings account in your application, and we’ll do it automatically for you.

Also, once you’ve registered and your account appears in mobile or online banking you can set up a Savings Goal. We will help you work out how much you need to save each month to reach your goals and help you track your progress. 

Definitions

AER: stands for Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year. 

Gross: The interest rate you are paid without the deduction of UK income tax.

p.a.: per annum (per year)

Ready to apply?

Before you start your application, we need to check a few things.

Do you have Digital Banking?

Important Information

Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.

The Savings Account Terms and Savings Interest Rates including the information sheet will be updated to reflect changes we are making from October 1st 2019.

You can see these now by clicking here.

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.

Are you ready to continue?

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Do you have your account number and sort code?

Important Information

Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.

The Savings Account Terms and Savings Interest Rates including the information sheet will be updated to reflect changes we are making from October 1st 2019.

You can see these now by clicking here.

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.

Are you ready to continue?

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Important Information

Please take some time to review, print and/or save the important information. By clicking to proceed you are confirming that you have been provided with, and have acknowledged our important documents including the FSCS information sheet.

The Savings Account Terms and Savings Interest Rates including the information sheet will be updated to reflect changes we are making from October 1st 2019.

You can see these now by clicking here.

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.

Are you ready to continue?

Is this account just for you, or is it a joint application?

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Great. Let's get your application started.

Remember, to apply for a Savings Builder, you must:

Be a current account customer

Be aged 16 years or over and a UK resident

Enter your mobile number and email address when you apply so we can identify you safely and quickly online

Something else we can help you with?