An easy way to manage your savings

If you’re looking for a simple, straightforward way to save with no strings attached, our Instant Access Saver could be just what you need. As your money is not tied up, you can make withdrawals whenever you want. 

5 great reasons to choose an Instant Access Saver

Instant access to your money
Passbook based savings account
Open an account with as little as £1, up to £1 million
Easy to manage in branch or by post
A safe home for your savings


Key product information for Instant Access Saver

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

If you open an Instant Access 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 manage the account?

This account is available to residents in Scotland. Accounts can be opened by children over the age of 7 or by an adult on behalf of children under 18. You can open an account in branch or download an application form online. The minimum opening deposit amount is £1, up to a maximum of £1million. You can make deposits into your account in branch (cash or cheque), by post (cheques only) or by bank transfer.

Can I withdraw money?

You can make withdrawals in branch or by post without notice, penalties or charges. However, please note 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.

Find out more

How do I apply?

 As a member-based mutual, our focus and purpose is to serve our local communities. That’s why we offer savings accounts primarily to residents in Scotland.

Please call us on 0333 207 4007 to request details on how to apply. Calls may be monitored and/or recorded. If you can't get to a branch, completed applications can also be posted to:

Scottish Building Society

SBS House

193 Dalry Road


EH11 2EF

Remember to enclose your proof of identity.

Where can I make deposits?

Once your account is open you can make deposits in branch (cash or cheque), by post (cheques only) or by bank transfer. For more information see managing your savings account.

How can I make withdrawals?

You can make withdrawals in person at our branches, or by post – whichever suits you best. Just keep in mind that this is a savings account, not an account for making day-to-day payments.

For more information see managing your savings account.

When is interest paid into my account?

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

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

Do I need to give notice to make withdrawals?

No – and there are no limits on how much of your savings you can take out of your account.

Can anyone start an Instant Access Saver Account?

Yes, as long as you are resident in Scotland, over the age of 7 (or you are an adult opening an account on behalf of children under 18).

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

Financial Services Compensation Scheme

Your eligible deposits with Scottish Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you could hold above the limit are unlikely to be covered. Please see below for further information.

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