Speaking of the Best Banks in Scotland, Scotland has various banks with great advantages, so knowing the best banks in Scotland would help you choose the right bank. Scotland banks offer different types of accounts. Here are some of the top banks in Scotland;
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#1 Bank of Scotland
Bank of Scotland operates on three different types of accounts; Classic, Platinum, and Youth and Student accounts. To open a Bank of Scotland account, you would need a minimum deposit of £1 with a 1.50% AER interest rate on balances between £4,000 and £5,000.
#2 Royal Bank of Scotland
The Royal Bank of Scotland, founded in Edinburgh in 1727 has paved the way in Scotland’s banking system since its establishment. The Bank is well known for making banking easier for its customers through its internet banking service.
Also, the Royal Bank of Scotland offers over three types of accounts: Everyday bank accounts, joint and foundation accounts. Other accounts Royal Bank of Scotland offers are a Rewards account, student, child & teen bank account.
#3 Clydesdale Bank
Clydesdale Bank helps customers to achieve their ambitions and also secure their savings. Clydesdale Bank accounts are designed to help customers stay in control of their finances. This bank offers three different types of accounts: Basic, Current, and Savings.
To open a Clydesdale Bank account, it would require a deposit of at least £1. There is also no maximum balance restriction or need to pay in on a regular basis. For each savings on your current account, there is an exclusive linked Savings Account paying 0.50% AER/ Gross per year on your savings balance, and interest is paid quarterly.
#4 HSBC
HSBC, a bank in Scotland helps customers manage their money with its current account, and also gives customers access to linked savings accounts, overdraft,s and digital banking. HSBC offers two major bank account types; Current and Savings account. To open an HSBC account, you need a minimum deposit of £1 with a 1.00% AER/gross interest rate per year.
#5 Lloyds TSB
Trustee Savings Bank (TSB), the first-ever pride of Scotland is one f the retail bams with a trusted customer brand and workforce that offers full banking services to its customers.
TSB operates on a current account which comprises of Spend & Save, Cash, Student, Graduate, and under 19s accounts. The Trustee Savings Bank account does not require a minimum deposit, however not all account types give an interest rate.
#6 Barclays
Barclays operates majorly on Current and Savings accounts. The current account comprises Barclays Bank, Premier Current, Basic Current, and Joint Accounts, Student account, Children’s Bank and Young Person’s account, and Foreign currency account. The savings account is a regular and fixed-rate savings account.
To open a Barclays account, you need a minimum deposit fee of £1, with an interest rate of 0.01% in an everyday savings account.
#7 Halifax
Halifax, a division of Bank of Scotland plc offers simplicity when managing your everyday spending, with accounts that include insurance benefits. Halifax operates on both savings and current accounts. To open a Halifax account, you need at least a £5 cash deposit to your account, with a varying interest rate based on the account type.