How we pay interest

Interest will be credited to your account on 31 December each year

An annual statement will be sent to you in January

For details of our interest rates please read Current savings rates and charges

If requested, interest can be paid direct into your bank account in January each year (minimum £25) or to another account with the Society

We may vary the interest rate on your account from time to time – please see Saving with Ecology – general terms and conditions for more details

Operating an account: withdrawals

Withdrawals must be for a specified amount unless the account is to be closed

The minimum withdrawal amount is £5

If a withdrawal would take the account balance below the required amount to keep the account open (£25), the account will have to be closed

Withdrawals can be requested by using a Withdrawal notification form or by sending us a letter signed by whoever is authorised to operate the account

Withdrawals can also be requested online via our Interactive facility (restrictions apply)

Operating an account: deposits

The minimum deposit is £5

You can save monthly by Direct Debit or standing order (the minimum amount payable by Direct Debit is £10)

Deposits can be made by cheque through the post or by transfer via the banking system

For home renovations: C-Change retrofit discount

For homes needing extensive renovations / energy efficiency improvements: C-Change retrofit

The C-Change retrofit scheme offers a discount of 0.25% from our Standard Variable Rate for each rating improvement in your home's Energy Performance Certificate (EPC). This could be either its Energy Efficiency or Environmental Impact rating - whichever is the highest.

For example, if either EPC rating improves from E to C after the works to the property are completed, a discount of 0.50% will be available on the whole of the mortgage, for the duration of the loan. The discounts are deducted from our Standard Variable Rate (currently 4.90% - the overall cost for comparison is 5.1% APRC).

Energy Standard

Passivhaus

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Ratings

Passivhaus

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SVR

4.90%

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Discount %

1.25%

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Variable Mortgage Rate

3.65%. The overall cost for comparison is 5.1% APRC

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For new builds and existing energy efficient homes: C-Changes sustainable homes discount

Our C-Change sustainable homes discount applies to new and existing energy efficient homes and extensive retrofits using the Passivhaus EnerPHit methodology. Once your build is complete, you need to provide an Energy Standard certificate and Architect/Building Control certificate for us to apply the Sustainable C-Change discount. The discount is applied from the date we receive all the required documentation and is based on the Energy Standard rating the property achieves.

 

Energy StandardRatingsDiscount %
PassivhausPassivhaus1.50%
PassivhausPHPP Modelled0.75%
Energy Performance Certificate (EPC)A (SAP rating 110+) (++)1.25%
Energy Performance Certificate (EPC)A (SAP rating 100-109) (+)1.00%
Energy Performance Certificate (EPC)A (SAP rating 92-99)0.75%
Energy Performance Certificate (EPC)B (SAP rating 88-91)0.50%
Association for Environment Conscious Building (AECB)AECB CarbonLite Building Standard1.00%

For homes needing extensive conversion / energy efficiency improvements: C-Change sustainable homes discount

Our C-Change sustainable homes discount applies to new and existing energy efficient homes. Once your build is complete, you need to provide an energy standard certificate and architect/Building Control certificate for us to apply the discount. This is applied from the date we receive all the required documentation and is based on the energy rating or standard the property achieves.

Energy StandardRatingsDiscount %
PassivhausPassivhaus1.50%
PassivhausPHPP Modelled0.75%
Energy Performance Certificate (EPC)A (SAP rating 110+) (++)1.25%
Energy Performance Certificate (EPC)A (SAP rating 100-109) (+)1.00%
Energy Performance Certificate (EPC)A (SAP rating 92-99)0.75%
Energy Performance Certificate (EPC)B (SAP rating 88-91)0.50%
Association for Environment Conscious Building (AECB)AECB CarbonLite Building Standard1.00%

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