Scottish Widows

Scottish Widows is a life insurance, pensions and investments business owned by the Lloyds Banking Group based in Edinburgh. 

Scottish Widows also offers savings accounts and mortgages.

The Lloyds Banking Group which include Lloyds Bank, Halifax, Bank of Scotland and Birmingham Midshires.

The company was established over 200 years ago in 1815, and it remains one of the best known brands in the life and pensions space.


Scottish Widows
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Life insurance

Ranked 19th of 24 providers reviewed.

Claims score 90.40%
Complaints performance 73.24%
Transparency rating 55.98%
Fairer Finance score
Reviewed Autumn 2023
73%

Savings Accounts

Ranked 52nd of 53 providers reviewed.

Customer happiness score 44.52%
Customer trust score 49.32%
Complaints performance 71.21%
Transparency rating 46.38%
Fairer Finance score
Reviewed Autumn 2023
53%

Savings Accounts

Easy Access Accounts

Scottish Widows

Direct Transfer Account 2

Interest Rate (AER) i 1.55%
Balance Tiers i 1.55% from £1,000
Minimum Opening Balance i £1,000.00
Withdrawal Penalty i
Part of FSCS i
Maximum Balance i £5,000,000.00
Minimum Age to Open Account i 16
Penalty free withdrawals? i
Sharia Account i
Additional Information i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Additional Opening Criteria i Must be referred by an IFA

Savings Accounts (ISAs)

Easy Access ISAs

Scottish Widows

E-Cash ISA 3

Interest Rate (AER) i 1.55%
Minimum Opening Balance i £10.00
Part of FSCS i
Withdrawal Penalty i
Minimum Age to Open Account i 16
Sharia Account i
Can be opened by mobile app? i
Can be opened in branch? i
Can be opened online? i
Can be managed by mobile app? i
Can be managed in branch? i
Can be managed online? i
Additional Opening Criteria i
Penalty free withdrawals? i
Can you transfer in funds from another cash ISA? i
Can you transfer in funds from a stocks and shares ISA? i