Interest Rates and Charges

Current interest rates

Rates effective from 16 June 2014
AER/Gross pa % Net pa %
Foundations Share
1.00 0.80
Accounts available to existing members - restrictions apply*
Foundations Cash ISA**
1.50 -
Eco-60 Share (60 days notice)
£500 - £2,499 1.000.80
£2,500 - £4,999 1.000.80
£5,000 - £9,999 1.000.80
£10,000 - £24,999 1.251.00
£25,000 and over 1.551.24

* The Foundations cash ISA is only available to individuals who were members of the Society on 7 June 2013 (and have not ceased being members since this date). The Eco-60 account is only available to individuals or trustees who were members of the Society on 7 June 2013 (and have not ceased being members since this date).

** Tax exempt interest rate. The Cash ISA is a non Stakeholder account.

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. 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 per year.

How to apply

Current interest rates on closed issue products

These interest rates are only relevant to members holding existing accounts within this product range.

Rates effective from 1 May 2013
AER/Gross pa % Net pa %
Foundations Deposit
1.00 0.80
Eco-Instant Share & Corporate Deposit
£1 - £499 1.00 0.80
£500 - £4,999 1.00 0.80
£5,000 - £9,999 1.00 0.80
£10,000 and over 1.00 0.80
Foundation Supporters**
2.00 1.60
Earthwise Cash ISA* (including ex-TESSA ISA)
1.50 -
Charity Deposit
1.00 0.80
Ordinary Share / Ordinary Deposit
1.00 0.80
Earthsaver Bond Issue 2, Issue 3 and Issue 4
£500 - £4,999 2.00 1.60
£5,000 - £9,999 2.00 1.60
£10,000 and over 2.25 1.80

*Tax exempt interest rate. The Cash ISAs are non Stakeholder accounts.

**Still available for previous Foundation Shareholders (members that held deferred shares). Please contact the Savings Department on 0845 674 5566 or at savings@ecology.co.uk to open an account.

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. 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 per year.

Previous interest rates

We have included our previous interest rates so you can see how our interest rates have varied over time.

Rates effective from 1 May 2013
AER/Gross pa % Net pa %
Foundations Share
1.00 0.80
Foundations Cash ISA*
2.00 -
Eco-60 Share (60 days notice)
£500 - £2,499 1.00 0.80
£2,500 - £4,999 1.00 0.80
£5,000 - £9,999 1.25 1.00
£10,000 - £24,999 1.55 1.24
£25,000 and over 1.80 1.44

* Tax exempt interest rate. The Cash ISA is a non Stakeholder account.

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. 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 per year.

All our savings accounts carry a minimum interest rate guarantee of 1.00% gross.

How to apply

Closed issue rates - previous rates

We have included our previous interest rate so you can see how our interest rates have varied over time. These interest rates are only relevant to members holding existing accounts within this product range.

Rates effective from 1 November 2010
AER/Gross pa % Net pa %
Foundations Deposit
1.00 0.80
Eco-Instant Share & Corporate Deposit
£1 - £499 1.00 0.80
£500 - £4,999 1.00 0.80
£5,000 - £9,999 1.00 0.80
£10,000 and over 1.00 0.80
Earthwise Cash ISA* (including ex-TESSA ISA)
2.00 -
Charity Deposit
1.00 0.80
Ordinary Share / Ordinary Deposit
1.00 0.80
Earthsaver Bond Issue 2 and Issue 3
£500 - £4,999 2.00 1.60
£5,000 - £9,999 2.00 1.60
£10,000 and over 2.25 1.80

*Tax exempt interest rate. The Cash ISAs are non Stakeholder accounts.

**Still available for previous Foundation Shareholders (members that held deferred shares). Please contact the Savings Department on 0845 674 5566 or at savings@ecology.co.uk to open an account.

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. 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 per year.

Tariff of charges

The following services are available on all of Ecology'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.

Re-presented cheques £20
A charge made each time a cheque paid into your account is re-presented for payment due to insufficient funds being available.
Returned cheques £20
A charge made if a cheque is finally returned by the bank unpaid.
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
We require seven banking days to find out if a cheque has been paid or not - so when you pay a cheque into your account it will be seven banking 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 banking days providing the cheque has reached its destination.
Stopped cheques £20
If you want 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.

How to apply

About our rates

As a mutual, we put the needs of our savers and borrowers at the centre of our business, and we believe in treating all our members fairly. We want to offer the highest interest rate possible to savers while keeping our mortgage interest rates as low as possible, to enable us to support as many environmental projects and properties as possible.

We put our beliefs in fairness and long term value into practice for savers in a number of ways:

  • All our savings accounts carry a minimum interest rate guarantee of 1.00% gross
  • We pay interest on all balances, however low
  • We pay interest on all funds from the day of receipt
  • We don't charge for the ordinary operation of a savings account.

You can find a full list of rates and charges by downloading Current savings rates and charges.

How to apply

How we use your money

Save with us and you're helping to support sustainable development across the UK. The projects and properties we fund benefit the environment and local communities - whether it's an ecological new build, bringing a disused property back into use, or supporting a community enterprise.

We're proud to have supported over 2,000 projects since we started in 1981. Here's just one example of how we've helped:

Caroline's story: saving to help other people

Caroline saves with Ecology because she wants her money to…

Read Story

“I wanted to invest my money somewhere I trust. Now I know that the money I save is helping other people – it means so much to me. I'm very happy… thank you!”

Caroline, Ecology saver

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How to apply