Bank of Scotland launches new instant access saver
The Bank of Scotland (BoS) has launched a new instant access savings account with a rate of 2.5 per cent AER.
BoS's Incentive Saver is available to both new and old customers and can be opened with as little as £1.
The bank's account pays 2.5 per cent on balances up to £30,000 and can be accessed by all customers, unlike Santander's equivalent offering, which excludes customers that have held other products with the bank in the past 12 months.
Greg Coughlan, head of BoS savings products, said: "This is a market leading instant access savings account which can be opened from as little as £1.
"Now customers can have the best of both worlds, with instant access to their funds along with a great fixed rate for twelve months."
At the start of this year, BoS launched its ISA Promise, which means that customers transferring their savings products to the bank receive interest from the day the transaction is completed.
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