Interest rates and charges
Once you open an account with the Ecology you will be notified individually about changes in the interest rate on your account(s). Latest interest rates can be seen below, or obtained by contacting the office on 0845 674 5566.
Current interest rates
Closed issue rates
Tariff of charges
Current interest rates
| Rates effective from 1 April 2008 | Previous rate | ||
|---|---|---|---|
| AER/Gross pa % | Net pa% | AER/Gross pa % | |
| Eco-Instant Share & Corporate Deposit | |||
| £25 - £499 | 2.10 | 1.68 | 2.35 |
| £500 - £4,999 | 2.90 | 2.32 | 3.15 |
| £5,000 - £9,999 | 3.15 | 2.52 | 3.40 |
| Over £10,000 | 3.40 | 2.72 | 3.65 |
| Eco-60 Share (60 days notice) | |||
| £500 - £2,499 | 3.25 | 2.60 | 3.40 |
| £2,500 - £4,999 | 3.50 | 2.80 | 3.65 |
| £5,000 - £9,999 | 3.75 | 3.00 | 3.90 |
| £10,000 - £24,999 | 4.00 | 3.20 | 4.15 |
| Over £25,000 | 4.25 | 3.40 | 4.40 |
| Earthsaver Bond Issue 3 | |||
| £500 - £4,999 | 3.90 | 3.12 | - |
| £4,999 - £9,999 | 4.15 | 3.32 | - |
| Over £10,000 | 4.40 | 3.52 | - |
| Earthwise Cash ISA* | |||
| 4.10 Ex Bonus 5.10 Inc Bonus |
- - |
4.35 Ex Bonus 5.35 Inc Bonus | |
| Ordinary Share / Ordinary Deposit | |||
| 2.10 | 1.68 | 2.35 | |
| Charity Deposit | |||
| 3.75 | 3.00 | 4.00 | |
Closed issue rates
(Accounts no longer available)
| Rates effective from 1 April 2008 | Previous rate | ||
|---|---|---|---|
| AER/Gross pa % | Net pa% | AER/Gross pa % | |
| Cash ISA (Ex-TISA)* | |||
| 4.10 Ex Bonus 5.10 Inc Bonus |
- - |
4.35 Ex Bonus 5.35 Inc Bonus | |
| Foundation Supporters** | |||
| 5.10 | 4.08 | 5.35 | |
| Earthsaver 1 year Bond Issue 2 | |||
| £500 - £4,999 | 3.90 | 3.12 | 4.15 |
| £5,000 - £9,999 | 4.15 | 3.32 | 4.40 |
| Over £10,000 | 4.40 | 3.52 | 4.65 |
*The interest payable on this account is exempt from income tax. (A 1% annual bonus is payable if no more than one withdrawal is made during the tax year.)
**Foundation Supporters accounts remain available to previous Foundation Shareholders. Please contact the Savings Department on 0845 674 5566 or at savings@ecology.co.uk to open an account.
AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest were paid and added once a year. Interest will be paid or credited after deduction of income tax at the appropriate rate or, subject to the required certification, gross. The net rates quoted are for illustrative purposes only and assume a tax rate of 20%. All rates are variable.
Tariff of charges
The following services are available on all the Society's savings accounts and are provided in addition to the normal operation of an account. The charges will be deducted from your account and appear in your passbook where issued and on your statement.
| Duplicate certificate 352 | £5 |
|---|---|
| Where a request is made for a duplicate when the original certificate has been misplaced or destroyed. | |
| Re-presented cheques | £5 |
| A charge made each time a cheque paid into your account is re-presented for payment due to insufficient funds being available. | |
| Returned cheques | £10 |
| A charge made if a cheque is finally returned by the bank due to insufficient funds. | |
| Access to personal details | £5 |
| A fee which is payable if you wish to have a copy of your personal details held in our computer records and customer filing systems. | |
| Telegraphic transfer of funds | £25 |
| A fee is payable where it is essential to transfer funds directly to any other bank or building society in the UK on the same day. | |
| Special clearance of a cheque | £15 |
| Normally we require ten calendar days to find out if a cheque has been paid or not - so when you pay a cheque into your account it will be ten calendar days following receipt at this office before you can draw on the funds. If you request a special presentation, funds can normally be drawn within two days providing the cheque has reached its destination. | |
| Bank draft | £15 |
| A cleared cheque drawn against the Society's Bank. | |
| Stopped cheques | £7 |
| If you wish to stop a cheque drawn on your account due to it being lost, stolen or destroyed, there will be a charge levied for each cheque. A replacement cheque will be issued made payable to the original payee. | |