Bank of Scotland Savings

About this deal

Bank of Scotland has been a familiar name in the German savings market for years, and its Tagesgeld account is built around one clear draw: an attractive intro rate for new money. Open the account, bring in fresh funds, and you earn the promotional rate while keeping full daily access to your cash. Your deposits are covered by the UK deposit guarantee scheme, which protects savers up to a set limit per bank.

An instant-access account like this is the natural home for a buffer you might need at any moment. There is no notice period and no lock-in, so it works well for an emergency fund or for money waiting between bigger decisions. The higher opening rate makes it especially appealing if you have a lump sum to put to work right away.

Best for

• New savers bringing in fresh money who want to capture the intro rate
• Anyone wanting daily access with no notice period
• People comfortable moving their money again once the promo ends

The honest caveat is right there in the offer: the headline rate is an introductory one for new customers, and after the promotional window it typically steps down to the standard variable rate. To keep earning the best return you may need to move your money on when the intro period expires, so mark the end date in your calendar. Note too that protection sits with the UK scheme rather than the EU one, worth knowing if you hold large balances.