Multiferroic BiFeO3 (BFO) and Bi0.97Y0.03Fe0.95Sc0.05O3 (BYFSO) films were fabricated on FTO coated glass substrate using sol-gel spin-coating technique. Y–Sc co-doping induces the structural distortion without changing the crystal structure (rhombohedral: R3c) of BFO. The electrical and magnetic properties of co-doped film may tuned due to increase in grain and particles size. The high dielectric constant (εr=290) and low loss (tanδ=0.084) indicates the improved insulating properties in BYFSO film. Increase in oxygen vacancy concentration in BYFSO film is explained with leakage current density, which follows Ohmic-SCLC conduction mechanism. Switching of 1800 domains into non-1800 (maximum 710 and 1090 type) ensures improved ferrolectric and piezoelectric properties in BYFSO film. The magnetic properties enhance significantly with saturation magnetization (Ms), remanent magnetization (Mr) are 9.45 emu/cm3, 6.154 emu/cm3 respectively at coercive (Hc) field of 0.822 kOe. Room temperature multiferroic BYFSO film with improved insulating and magnetic properties may be useful for non-volatile RRAM memory application. © 2019 Elsevier B.V.