Make the most of your money

Whatever you want from your savings, whether you want to set a little something aside for a rainy day or you're planning for the future, we can help you make the most of your savings. We have a range of savings accounts to suit your situation.


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Important information about cash ISAs

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AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

Tax free is the contractual rate of interest payable where interest is exempt from income tax.

Calls may be monitored and recorded for security and training purposes. Lines are open Monday to Saturday 8am to 8pm, excluding bank holidays. Call charges may apply.

The deposit taker for AA Savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh, EH1 1YZ. Registered in Scotland No. SC327000.


What happens about tax

Basic-rate taxpayers Income tax will be deducted at the current rate of 20%.

Higher and additional-rate taxpayers You'll have further tax to pay. The HM Revenue and Customs (formerly Inland Revenue) requires that, on your annual tax return, you declare all interest you receive.

Non-taxpayers You can reclaim the income tax we deduct from HM Revenue and Customs. Alternatively you can register to have your interest paid gross by completing an R85 form. An R85 form is required for every account you hold with AA Savings.

What you need

You can download Form R85 from HM Revenue and Customs. Please see the R85 Helpsheet if you need any further help with completing the R85 form.

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Administration charges

These charges will be taken from your account balance unless otherwise agreed.

Telegraphic transfer – £35

We can make a same day transfer of money from your account (subject to the account terms and conditions) electronically, directly to another UK bank account that is held in your name. To do this the charge is £35, and we will require your instruction in writing no later than 12 noon Monday to Friday.

Returned cheques – £10

If a cheque you give us requires re-presenting because it is not signed or dated, or is incomplete or illegible, our charge is £10.

Stopped cheques – £5

If you want to stop a cheque because it has been lost, stolen or not received our charge is £5.

Account withdrawal – charge varies

Under some circumstances, you will incur a charge for making a withdrawal. For example, you will be charged if you withdraw funds immediately on an account with a notice period. The charge will be clearly stated in the terms and conditions of your account.

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Bank of Scotland plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Intelligent Finance (IF), Birmingham Midshires (BM Savings), Bank of Wales, Halifax, Bank of Scotland, Bank of Scotland Private Banking, Bank of Scotland Germany, Bank of Scotland The Netherlands, Bank of Scotland Treasury, Lloyds Bank Corporate Markets, Lloyds TSB Corporate Markets and St James's Place Bank. Some savings accounts under the AA Savings and Saga brand names are also deposits with Bank of Scotland plc. Any total deposits you hold above the £85,000 limit between these brands are not covered.

Please read the guide to protecting your money or visit

The deposit-taker for some AA savings accounts is Birmingham Midshires. Please note that 'we' and 'us' below refers to Birmingham Midshires, a division of Bank of Scotland plc.

Important information about compensation arrangements

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim), please call us on 0845 603 6302, refer to the FSCS website or call the FSCS on 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

If you are unsure whether your account is held with Bank of Scotland plc please check your account literature.

Current interest rates

AA Internet Extra (Issue 17)

Balance £1 – £999.99 £1,000+
  Gross/AER% variable Gross/AER% variable
12.01.15 0.50 1.25
  • Account launched 12 January 2015
  • £1,000 - £1 million 1.25% gross/AER variable including a fixed bonus of 0.75% for 12 months.
  • After 12 months, where a rate includes a bonus, the variable rate without bonus will apply, currently 0.50% gross / AER variable.

AA 2 Year Fixed Rate ISA

Balance £1+
  Tax free/AER%
25.03.15 1.75
  • Account launched 25 March 2015

AA Easy Access Maturity Account

  • account launched 15 March 2006

AA ISA Easy Access Maturity Account

 Tax free/AER%
  • account launched 15 March 2006

AA Internet Maturity Account


Gross is the contractual rate of interest payable before the deduction of income tax as specified by law.

AER stands for 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 you can expect from your savings over time.

Tax free is the contractual rate of interest payable where interest is exempt from income tax. The favourable tax treatment for cash ISAs depends on your individual circumstances and may vary in the future.

Rates are variable.

Our privacy statement

The AA Savings accounts are operated for the AA by Birmingham Midshires, a division of Bank of Scotland plc.

This section contains headlines from our full privacy statement. These relate to all services provided by Birmingham Midshires for the AA.

Where we obtain your information

  • When you apply for our products and services, we ask for personal information.
  • Apart from the information you give us, we may collect information about you from:
    • other account holders with whom you are connected
    • your employer
    • information held on the electoral roll
    • other organisations, including credit reference agencies and fraud prevention agencies
    • the way you use our products and services, eg your transactions
  • If you apply for insurance, we will pass your details to the insurer, who may add your details to a register if you make a claim.
  • We use cookies and other Internet technologies to help provide our online services.

How we use your information

  • We use your information to provide the products and services you request and to inform you of other AA Financial Services Ltd products and services.
  • We may also use your information to:
    • check your identity
    • assess lending risks about you and any joint applicants
    • prevent and detect fraud
    • meet any legal obligations imposed on us, including statutory and regulatory reporting
  • We may also share your information with:
    • other members of the Lloyds Banking Group for the reasons stated above
    • our agents and data processors who provide a service to us and you
    • credit reference and fraud prevention agencies
  • The information we collect may be linked with information other Lloyds Banking Group companies already hold.
  • Occasionally, we may need to share your information with companies outside the European Economic Area. We will only do this if we are satisfied that it will be kept safe and secure.
  • We do not disclose your information to anyone outside the Lloyds Banking Group, other than for the purposes described above, unless we have your permission or we are legally obliged to do so.

Credit referencing and fraud prevention

  • If you apply for a credit-based product, we will perform a search with a credit reference agency.
  • After you open a credit-based product, we will give the agency regular information about how you use it.
  • Other lenders may become aware of our search. If you apply for credit in future, lenders may use its existence in their decision making process.
  • Credit reference agencies may give us information about you, which may be linked to someone with whom you have had a financial association, such as a joint bank account.
  • If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering.
  • Further details explaining how information held by fraud prevention agencies may be used can be obtained by contacting us at Fraud Prevention Team, Birmingham Midshires, PO Box 81, Pendeford Business Park, Wobaston Road, Wolverhampton WV9 5HZ.

Download the full Privacy Statement for more information on credit referencing, what Birmingham Midshires does, what credit reference agencies do, and more information about fraud prevention agencies.

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Your right to your information, how to contact us

If you have any questions about how we use your data, or would like a copy of the information we hold about you, please contact us at Compliance Team, Birmingham Midshires, PO Box 81, Pendeford Business Park, Wobaston Road, Wolverhampton WV9 5HZ. The Act allows us to charge a fee of £10.

Online security

Staying safe online

Managing your savings account online is a safe and efficient way of keeping track of your money.

Find out how to protect your money when using online banking.

General savings conditions

Birmingham Midshires is the deposit taker for the AA Savings accounts. The General Savings Conditions should be read together with any Account Conditions relating to your specific deposit account.

If there is any conflict between these General Savings Conditions and the Account Conditions then the Account Conditions shall have priority. The General Savings Conditions apply to all AA Savings accounts provided by Birmingham Midshires.

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Important notice to AA cash ISA customers

Changes to cash ISA conditions

With effect from 1 July 2014 we are making changes to all of our cash ISA conditions. These changes will mean that customers can transfer to one of our cash ISAs from a stocks and shares ISA they hold elsewhere.

Fixed rate cash ISAs opened before 1 July 2014

We are also making an additional change to the conditions for fixed rate ISAs opened before 1 July 2014. With effect from 1 July, customers who have invested in a fixed rate ISA in the current tax year have until 31 August 2014 to pay into their account.

Changes to ISA limits

From 1 July 2014, the annual ISA limit for the 2014–15 tax year will be £15,000. You can save up to the annual limit in either a cash or stocks and shares ISA or spread your annual allowance between a cash and stocks and shares ISA in any proportion you wish.