November 2022 Interest Rate Changes for Savings

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From Monday 7 November we are increasing the interest rates across our range of savings accounts.  Tables showing the previous and new rates are shown below.

You can read about some of the projects supported by the money you save and our award-winning support for community-led housing at ecology.co.uk/projects.

More detail on your savings account(s) is available by logging in to the online service or at ecology.co.uk/savings

Accounts for which we are currently accepting new applications

Until 6 November 2022

Previous Rate
(% gross p.a.*/ AER**)

From 7 November 2022

Revised Rate
(% gross p.a.*/ AER**)

Change (%)
Easy Access1.502.25+0.75
Ecology Cash ISA1.702.70+1.00
Regular Savings2.102.85+0.75
90-Day Notice
£500-£4,9991.802.55+0.75
£5,000-£9,9991.902.65+0.75
£10,000-£24,9992.002.75+0.75
£25,000+2.102.95+0.85

Accounts for which we are not currently accepting new applications (these continue to operate as usual for existing account holders)

Until 6 November 2022

Previous Rate
(% gross p.a.*/ AER**)

From 7 November 2022

Revised Rate
(% gross p.a.*/ AER**)

Change (%)
Charity Deposit1.502.25+0.75
Corporate Deposit1.502.25+0.75
Ordinary Deposit1.502.25+0.75
Earthwise Cash ISA1.702.70+1.00
Earthwise Ex-TESSA ISA1.702.70+1.00
Eco-Instant1.502.25+0.75
Eco-60 Share
Up to £24,9991.502.25+0.75
£25,000+1.702.45+0.75
Foundations Cash ISA1.702.70+1.00
Foundations Deposit1.502.25+0.75
Foundations Share1.502.25+0.75
Foundations Supporters2.202.95+0.75
Ordinary Share1.502.25+0.75
Treasurers' Trust Deposit1.502.25+0.75
SIPP Deposit***
Up to £50,0001.652.40+0.75
£50,001+1.852.60+0.75

* All ISA interest is paid tax-free, which means it’s exempt from income tax. We pay all non-ISA savings interest gross, which means no income 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.
*** SIPP Deposit increased rate from 3 November 2022.

 

 

Published: 3 November 2022

Author: Laura Baines

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