- The Bank of Scotland* offers 1.50 percent overnight interest per year.
- Deposits are protected by the statutory German deposit insurance up to an amount of EUR 100,000 per person.
- A maximum of up to 500,000 euros can be invested in the call money account.
- A special offer for new and existing customers offers a bonus interest rate of 1.0 percent for deposits of 1,000 euros or more over a period of two months in addition to the overnight interest rate of 1.50 percent.
- Opening an account is easy and takes place via the online form with subsequent identification in a post office or via video identification.
Interest Rate and Guarantee Period
The Bank of Scotland overnight money* offers an interest rate of 1.50 percent per annum on all deposits. A special promotion (from March 21 – April 28, 2023) rewards deposits from EUR 1,000 with a bonus interest rate of 1.0 percent for the first two months.
Maximum investment amount and account opening
The Bank of Scotland money market account offers the opportunity to invest up to 500,000 euros. Opening an account is easy and can be done online. Identification is possible either in a post office or by video identification.
deposit insurance
Deposits in the Bank of Scotland money market account are protected by the statutory German deposit insurance up to an amount of EUR 100,000 per person. There is no double protection by the deposit protection fund.
Advantages
The Bank of Scotland money market account offers good bonus interest for deposits from 1,000 euros and a maximum investment amount of 500,000 euros. The statutory deposit insurance offers a high level of security for savers.
Disadvantages
Unlike some other banks, Bank of Scotland does not offer double protection through the Deposit Guarantee Fund.
Conclusion
The Bank of Scotland overnight deposit account* offers good conditions for savers, especially through the bonus campaign for deposits from 1,000 euros. The deposit insurance via the statutory German deposit insurance offers a high level of security. However, there are currently other banks with similarly good offers. By the way: By the way: You can find the currently best overnight money offers in our overnight money comparison.
FAQ
What interest rates does the Bank of Scotland offer on the call money account?
The Bank of Scotland offers overnight interest of 1.50 percent per annum on all deposits in the overnight account. There is also a special offer for deposits of 1,000 euros or more, which grants a bonus interest rate of 1.0 percent for the first two months.
How secure is the Bank of Scotland overnight deposit account?
Deposits on the call money account at the Bank of Scotland are protected by the statutory German deposit insurance up to an amount of EUR 100,000 per person. However, there is no double protection by the deposit protection fund.
What is the maximum amount that can be invested in the Bank of Scotland overnight deposit account?
Customers can deposit a maximum of EUR 500,000 in the Bank of Scotland overnight deposit account.
How can I open an overnight deposit account with the Bank of Scotland?
Opening an overnight deposit account with the Bank of Scotland can easily be done online using the online form. After completing the form, the customer’s identity must be confirmed through a postal or videoident procedure.
What are the benefits of the overnight deposit account at the Bank of Scotland?
The call money account at the Bank of Scotland offers an attractive interest rate of 1.50 percent per year and a special offer for deposits of 1,000 euros or more with a bonus interest rate of 1.0 percent for the first two months. In addition, there is a high level of security thanks to German deposit insurance and a maximum investment amount of EUR 500,000.
Are there any disadvantages to the Bank of Scotland overnight deposit account?
Unlike some other banks, Bank of Scotland does not offer double protection through the Deposit Guarantee Fund.
Conclusion
The Bank of Scotland money market account offers attractive interest rates and a high level of security thanks to the statutory German deposit insurance. The special offer for deposits from 1,000 euros with a bonus interest rate of 1.0 percent for the first two months is another advantage. However, there are currently other banks with similarly good offers.
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