Minimum opening balance: £1000
Deposits can be made by internet banking, telephone or post
No notice period or penalties for withdrawals
View the interest rates here »
View the full terms and conditions »
Scottish Widows Bank and Fair Investment Limited have teamed up to offer you a range of exciting savings accounts including the Direct Transfer Account.
By choosing to open an account through the Fair Investment Limited website, Scottish Widows Bank will consider Fair Investment Limited your introducer.
Fair Investment Limited will receive 0.2% commission annually based on the average balance of your account. This will be paid quarterly in January, April, July and October. This is paid automatically by Scottish Widows Bank and does not affect your account in any way.
— Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. (As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time).Gross
— This is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).The AER advertised is based on interest paid gross and capitalised to the account once a year - please note that other interest payment periods are available and the actual interest rate on your account will be lower if you have interest applied more frequently, but when compounded will equal the AER.