Online Saver

An easy way to manage your savings

Manage your account when it suits you – whether you want to pay money in, take it out, or just check your balance.

 

Why choose an Online Saver account?

 

  • Manage your money quickly and easily online

 

  • Open an account with just £100

 

  • Save up to £1,000,000 in your account

 

  • Deposit and withdraw any time you want

 

  • It’s a safe and secure home for your savings

Manage your account when it suits you – whether you want to pay money in, take it out, or just check your balance.

 

Why choose an Online Saver account?

 

  • Manage your money quickly and easily online

 

  • Open an account with just £100

 

  • Save up to £1,000,000 in your account

 

  • Deposit and withdraw any time you want

 

  • It’s a safe and secure home for your savings

Manage your account when it suits you – whether you want to pay money in, take it out, or just check your balance.

 

Why choose an Online Saver account?

 

  • Manage your money quickly and easily online

 

  • Open an account with just £100

 

  • Save up to £1,000,000 in your account

 

  • Deposit and withdraw any time you want

 

  • It’s a safe and secure home for your savings

Open and manage your Online Saver with SBS Online

You can apply to open an Online Saver with our quick and secure online accounts service SBS Online. And once you've registered, you can open other savings accounts online too. You can find out more about SBS Online here.

Or, if you're ready to get started, click the link

What might an Online Saver look like for me?

Online Saver Representative Example
Interest Rate
0.30% AER Gross/AER variable
Open from
£100
Withdrawals
Yes. Unlimited
Additional Information

Save up to £1,000,000 in your account

Deposit and withdraw any time you want

Manage your money quickly and easily using SBS Online

How can I apply?
Apply Now
Initial Deposit
Balance after 12 months
Interest earned
£1,000.00
£1,003.00
£3.00
£10,000.00
£10,030.00
£30.00
£25,000.00
£25,075.00
£75.00
£50,000.00
£50,150.00
£150.00
What's 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 without tax deducted on 31 March each year. You might be required to pay tax on savings interest – this should be arranged directly with HMRC through your tax return.

Will the interest rate change?

The interest rate is variable and can change as outlined in section 8 of our Online Savings Terms & Conditions.

If the rate increases, we’ll write to you by letter or email and also update our website. If the rate goes down, we’ll write to you 14 days before the change.

 

What would be the estimated balance after 12 months if I opened an account with £1,000?

After after 12 months the estimated balance would be £1,003.

This estimate is just for illustrative purposes and doesn’t take into account any deposits or withdrawals you might make

Can anyone open an Online Saver Account?

Accounts can be opened by anyone in their sole name aged 16 or over.

How do I open the account?

You can open and manage the 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 account by bank transfer from a nominated bank account in your name. Similarly, you can only make withdrawals from your account into the nominated bank account in your name.

 

 

Can I withdraw money?

Yes. You can make unlimited withdrawals online to a nominated bank account without notice, penalties or charges. Any withdrawals you make won’t alter the tax-free status of your account.


You can make withdrawals in one of our branches too. You’ll need to bring proof of ID with you (for example, a valid Passport) and your signature (for example, a valid driving license).

 

I’m happy to manage my account online – but what if I need to speak to someone?

We’re here to help if you need us. You can email our Customer Services team at savingsonline@scotbs.co.uk for support and assistance Monday to Friday 9am to 5pm.