Online Saver

Our Online Saver Account lets you do everything when it suits you – whether you want to pay money into your account, take money out, or simply check your balance.

5 reasons to open an Online Saver account

Manage your money quickly and easily online
You can open an account with just £100
You can save up to £1,000,000 in your account
You can make deposits and withdrawals at any time
A safe home for your savings

SUMMARY BOX – Key product information for Online Saver Account

What is the interest rate?

0.30% Gross/AER variable.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

Gross interest is paid directly into your account on 31 March each year.


Can Scottish Building Society change the interest rate?

The interest rate is variable and may be changed as outlined in section 8 of the Online Savings Terms & Conditions. When the change is an increase in the interest rate, we will let you know by writing to you by post or by e-mail and updating our website. When the change is a reduction, we will write to you 14 days before the rate change.


What would be the estimated balance after 12 months based on a £1,000 deposit?

If you open an Online Saver Account and deposit £1,000, after 12 months the projected balance would be £1,003.

This projection is for illustrative purposes only and does not take into account your individual circumstances.

How do I open and mange the account?

Accounts can be opened by anyone in their sole name aged 16 or over. You can only open this account online at SBS Online. The minimum opening deposit amount is £100, up to a maximum of £1,000,000. You can only make deposits into your Online Saver by bank transfer from a nominated bank account in your name. Similarly, you can only make withdrawals from your Online Saver account into the nominated bank account in your name.

Can I withdraw money?

You can make unlimited withdrawals without notice, penalty or charges.

Money transferred to your nominated bank account may take up to 2 business days to reach your account. This is not a payment account.

Additional Information

Interest is paid gross without tax deducted. A small proportion of savers may be required to pay tax on savings interest – this should be arranged directly with HMRC through your tax return.

Please read the Savings Terms & Conditions leaflet for general conditions which apply to this account.


I’m happy to manage my account online – but what if I need help at any time?

As your Online Saver is managed securely and exclusively online, you won’t need a passbook or counter service – but we’re still here if you need help. You can email our Customer Services team at for support and assistance Monday to Friday 9am to 5pm.

When can I make deposits and withdrawals?

You can pay money into your account as soon as your application is complete – but for security we may need you to send us a few details by post before you can withdraw money from your account.

How do I make deposits and withdrawals?

You can only make deposits and withdrawals by bank transfer to and from a nominated bank account in your name.

Are there any restrictions on making withdrawals?

No. You have instant access to your savings and there are no limits on how much you can take out.

How long do deposits and withdrawals take?

When you make transfers to or from your Online Saver, the money is transferred directly to or from your nominated bank account in your name. Transfers typically take up to 2 business days to reach your account.

Can anyone start an Online Saver Account?

You can open an account if you are aged 16 years or over.

Ready to apply?

Before you apply, please note:

  • You can only apply if you are aged 16 or over.
  • The account must be in your sole name.
  • You'll need your bank account details handy during the application process.
  • You won't be able to pay money in or take money out until we have confirmed your identity. We may need you to send us certain information by post. We'll tell you what this involves once your account is open.
  • The application process will take around 10 minutes.

Contact Us

For new savings or mortgage enquiries, call us today on

0333 207 4007

Lines open 9-5 Mon to Fri (10-5 Wed). Calls may be recorded and/or monitored.

Existing Member Enquiries

To talk to us about an existing savings or mortgage account, contact your local office

Find your local office