Current accounts

The Reward Current Account is a new kind of bank account that gives you £5 each month you pay in £1,000 – it's our way of saying thank-you for banking with us.

Not many people know how much interest they earn on their balance each month, so we're keeping things simple. The new Reward Current Account replaces the usual interest payments with something that's easy to understand – and potentially far more rewarding. We'll give you £5 each month whether you're in credit or overdrawn -all you have to do is pay in £1,000.

Even if you don't pay in £1,000 each month, our Reward Current Account could still be the account for you.  You'll benefit from simple overdraft fees, making it easy to manage your money, and you'll also receive all the standard features you expect from a bank account.  And in any month you do pay in £1,000 you'll get £5 too.

If you would prefer an account that offers a high credit interest rate along with a great range of other account benefits, our Ultimate Reward Current Account offers great rates including credit interest of 2.50% AER  (2.47% gross) variable on balances up to £2,500 andthe first £300 of any arranged overdraft is interest-free (0% EAR). Typical 19.5% EAR  variable on arranged overdrafts over £300. Whether you can have an overdraft and the amount will depend upon your personal circumstances at the time you apply for one. Any overdraft we agree is subject to status.You'll also get peace-of-mind insurance cover and exclusive offers, all for just £12.50 a month.

Whichever current account you choose, you’ll get all the standard features you'd expect from a bank account including a Bank of Scotland Visa debit card, an overdraft facility if you need it, access to all our branches plus the convenience of 24-hour telephone and online banking.

Apply for the Ultimate Reward Current Account today
Apply for the new Reward Current Account

Or, click here to compare our range of current accounts.

Bank of Scotland current accounts and services are offered subject to status. Overdrafts are repayable on demand.

AER stands for annual equivalent rate and shows what the interest rate would be if interest were paid and compounded each year. (In other words, you earn interest on the interest you leave in your account.) The gross rate is the rate of interest we pay before we take off income tax at the rate set by law.

EAR is the equivalent annual rate. This is the actual annual cost of an overdraft. It does not take into account fees and charges. 
For the Ultimate Reward Current Account, the interest paid on credit balances over £2,500 is 0.10% AER/gross.

Pay in £1,000 monthly to receive £5 (net) / £6.25 (gross) monthly. Reward paid net of income tax (at the rate specified by law, currently 20%). Higher-rate tax payers may need to pay additional tax on the reward.