Base Rate Tracker

The following information is intended to give you a quick over view of the important features of the Base Rate Tracker account, to help you decide if it might be suitable for you.

Before making any decisions regarding the Base Rate Tracker, you should ensure you read the Terms and Conditions (PDF 275KB) for the product and the customer service.

If you need any more information, please call the number on this page and speak to one of our advisers.

What is the Base Rate Tracker?

• Base Rate Tracker is a savings account, provided by Bank of Scotland, which offers easy access to your money while tracking the Bank of England Bank Rate plus an additional 0.75% on top.
• Rates will track the Bank of England Bank Rate plus 0.75%. Interest is paid on a monthly basis.
• The effect of any changes in the Bank of England Bank Rate will be applied to your account on the day they happen.
• Regular updates - you'll always be kept fully informed through your monthly statement.
• Fast transactions - if you request a transaction before 2.30pm, it will be processed on the same day, and the money will be credited to your account within 3 working days. Transactions after this time will be processed on the following day and will take a further 3 working days to be credited to your account. The minimum withdrawal amount is £50.

What are the benefits?

• Flexibility - enjoy easy access to your savings whilst receiving a rate of interest that tracks the Bank of England Bank Rate (which is a variable rate) plus an additional 0.75% (which is fixed until further notice).
• Easy to run - you can choose to make regular monthly deposits, or make single payments.

What are the risks?

• As a tracker account, the rates of interest offered by the Base Rate Tracker are not fixed.
• The returns you receive will be affected by fluctuations in the Bank of England Bank Rate.

Who might find it suitable?

Base Rate Tracker may be suitable if you:

• Want easy access to your money.
• Have at least £1,000 to invest - this is the minimum balance required.
• Want to invest a lump sum with the option to invest further amounts.
• Do not wish to ‘tie up’ your investment for a set period of time.

Who might not find it suitable?

Base Rate Tracker is less suitable for people who:

• Would prefer the certainty of a fixed rate of interest.
• Are seeking a higher rate of interest by limiting access to their investment.

Apply now

Apply now

WC02031 09/2011