Savings Accounts Changes11 June 2019
We’re accepting new applications for our Foundations Cash ISA and have made changes to the maximum savings limit in some of our savings accounts, with effect from 11 June 2019.
Foundations Cash ISA
We are accepting applications for our Foundations Cash ISA.
The Foundations Cash ISA allows you to save money in a tax-efficient way in a simple and easy savings account paying a variable interest rate of 1.10% gross** p.a./AER***. You can pay in (up to the annual ISA subscription limit of £20,000) and withdraw whenever needed.
In addition to the Foundations Cash ISA we’re also accepting applications for our Easy Access, 90-Day Notice and Regular Savings accounts.
Changes to the maximum balance
The maximum balance on our Easy Access, 90-Day Notice and Treasurers’ Deposit* accounts has increased to £125,000 (previously £75,000).
Our members’ savings fund Ecology’s sustainable lending and these changes will enable us to support more projects and properties with a positive environmental or social impact, helping us build a greener future.
To find out more about our savings accounts please visit ecology.co.uk/savings.
*Our Treasurers’ Deposit account for small groups and charities is not currently available for new applications.
**All ISA interest is paid tax-free, which means it’s exempt from income tax and no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.
***AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.