A safe way to save year after year with our Regular Saver

The easy way to save - and keep on saving. Our Regular Saver Account could be ideal if you want to save some money each month for twelve months, without the temptation of being able to dip into your savings until the end of the year.

Our Regular Savings Account provides a more structured way to save, which can help make it easier to build up a pot of money, and reach your savings goals.

The key is the regularity – you simply make one payment each calendar month for twelve months. You can't take any money out of your Regular Saver Account for that twelve-month subscription period, which gives your money the chance to grow.

At the end of the twelve months, you will have instant access to your savings with no restrictions. We'll remind you shortly before your anniversary. You can spend your money – or, once you've seen how easy it is to get into the savings habit, you could start another Regular Saver.

5 great reasons to choose our Regular Saver

It's an easy way to save on a regular basis
You can open an account with as little as £10
You can save any amount between £10 and £500 each month
At the end of the twelve months, you'll have instant access to your savings
A safe home for your savings

SUMMARY BOX – Key product information for Regular Saver Account

What is the interest rate?

1.35% 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 the anniversary of the account opening.

Can Scottish Building Society change the interest rate?

The interest rate is variable and may be changed as outlined in section 9 of the Savings Terms & Conditions. When the change is an increase in the interest rate, we will let you know by writing to you or by placing notices and leaflets in all our branches and updating our website. When the change is a reduction, we will write to you 14 days before the rate change.

What would the estimated balance be after 12 months based on depositing £250 per month?

If you open a Regular Saver Account and deposit £250 on the first of each month commencing January, after 12 months the projected balance would be £3,022.04.

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

How do I open and manage the account?

You can open an account in branch or download an application form online.

The minimum opening deposit amount is £10, and thereafter you need to deposit a minimum of £10 and a maximum of £500 per calendar month for 12 months. You can deposit money into your account in branch (cash or cheque), by post (cheques only) or by bank transfer. You can only make one deposit per month.

At the end of the 12-month period, you’ll have instant access to your savings.

Can I withdraw money?

No withdrawals can be made during the 12-month subscription period. If you make any withdrawals before the anniversary date, your account will be closed and interest will be paid in full up to the date of closure.

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.

Find out more

Interest rates for our Regular Saver from 15 May 2020

Ready to apply?

Completed applications can be returned to any branch or agency office, along with proof of your identity and initial deposit.


Alternatively, you can post your application and necessary documentation to:

Scottish Building Society

SBS House

193 Dalry Road


EH11 2EF



Where can I make deposits?

Once your account is open you can make one deposit each month in branch (cash or cheque), by post (cheques only) or by bank transfer. We’ll give you a passbook for your account, so you can keep track of your deposits.

When is interest paid into my account?

Gross interest is paid directly into your account on the anniversary of the account opening.

If you’re a basic rate taxpayer and have savings income or interest of more than £1,000 (£500 for higher rate taxpayers), you’ll have to pay some tax on this. You can find out more by calling HMRC on 0300 200 3300 or visit hmrc.gov.uk

Can I make withdrawals?

Although no withdrawals can be made during the twelve-month subscription period – at the end of the twelve months, you can access your savings instantly, with no notice required and without any other restrictions.

What if I need access to my money?

You can take money out of your account before the anniversary date – but we’ll need to close your account, and interest will be paid in full up to the date of closure.

Can I have more than one Regular Saver?

You can only have one Regular Saver account at any one time – either in your own name, or in joint names. At the end of the twelve month subscription period, you can start another Regular Saver if you wish.

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