90 Day Notice Savings Accounts

Key Features:

    • Tiered variable interest rates ranging from 3.75% to 4.15% gross* p.a./AER** depending on your account balance. Please see table below:

Interest rate
(% gross* p.a./AER**)
£500-£4,9993.75%
£5,000 - £9,9993.85%
£10,000 - £24,9993.95%
£25,000 +4.15%

  • Available to individuals and trustees (1)
  • The minimum amount to open a 90-Day Notice account is £500
  • The maximum investment is £125,000
  • Withdrawals with 90 days’ notice
  • A minimum balance of £500 is required in your account
  • View your account and send secure messages via our online service (restrictions apply).
  • Deposits can be made via bank transfer, Direct Debit or by cheque
  • Monthly savings options
  • Interest payable on 31 December
  • Statements issued annually in January
  • Limited to one 90-Day Notice account per member
  • To open and maintain an account, you will need to be resident in the UK and not resident for tax purposes anywhere other than the UK
  • Option to apply for an account in a young person's name or on behalf of a child (2)
  • Voting rights available (3)

*We pay all savings interest gross, which means that 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.

1. Where the trust account is subject to a formal trust document, accounts will only be accepted where a trustee or beneficiary has been a member of the Society for the previous twelve months.

2. These accounts can be opened for a young person aged 16 or 17, or by parents or relatives as trustees for a child of any age. For further information please refer to the section below How to apply if you are under 18 years old.

3. Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the Rules) and the date of voting.

Further reading

90-Day Notice Summary Box

The information provided in this Summary Box is a summary of the key features of the 90-Day Notice account and is not intended to be a substitute for reading the terms and conditions that apply to the account.

Account name: 90-Day Notice

What is the interest rate?

The 90-Day Notice account offers tiered variable interest rates depending on your account balance as follows:

Interest rate
(% gross* p.a./AER**)
£500-£4,9993.75%
£5,000 - £9,9993.85%
£10,000 - £24,9993.95%
£25,000 +4.15%

Interest is calculated on a daily basis and credited to your account on 31 December each year.

* We pay all savings interest gross, which means that 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.

Can Ecology Building Society change the interest rate?

We may change interest rates at any time if we reasonably believe that the change is needed for any of the following reasons (which may relate to circumstances existing at the time or those that are expected to apply in the near future):
• to respond to changes in the Bank of England Base Rate
• to respond to changes in mortgage or interest rates generally (including the interest rates paid on similar accounts by other providers of financial services)
• to enable us to manage the difference between the interest rates charged to our borrowers and interest rates paid to our investors, or the providers of funds to us, taking into account the interests of the Society, our members, and your rights and interests as an account holder
• to respond to changes in the law or the decision of a court or ombudsman
• to meet relevant regulatory requirements
• to respond to new (or changes to) statements or codes of practice or industry guidance designed to enhance consumer protection
• to reflect changes to our costs in providing the account, including administration costs and costs of providing services or facilities
• to introduce or alter ‘tiers’ of interest where different rates apply depending on the amount in the account.

Where we make any such change, we will act reasonably and we will only make the change if we believe it is fair in the circumstances.

Any change we make to interest rates will be proportionate to the circumstances giving rise to the change.

For further information regarding interest rate changes including the process for notifying you, please refer to section 7 in our leaflet Saving with Ecology – General terms and conditions.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Based on an interest rate of 3.75% gross, the balance on a £1,000 deposit after 12 months would be £1,037.50.

The following projections are based on the minimum balances required to achieve the next interest rate tier:

Based on the interest rate of 3.85% gross, the balance on a £5,000 deposit after 12 months would be £5,192.50.

Based on an interest rate of 3.95% gross, the balance on a £10,000 deposit after 12 months would be £10,395.00.

Based on an interest rate of 4.15% gross, the balance on a £25,000 deposit after 12 months would be £26,037.50.

This projection is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

Applications for this account can be made online or by posting a completed application form. Please refer to page 6 of the 90-Day Notice Savings Account brochure, for further details of how to open an account and to make your initial deposit.

Limited to one 90-Day Notice account per member.

With our online service, you can view your account transactions, send secure messages and request a withdrawal.

Your initial deposit can be made by cheque, Direct Debit or bank transfer

All subsequent deposits can be made by bank transfer, Direct Debit or cheque. You can also save monthly by Direct Debit or standing order.

The minimum amount to open a 90-Day Notice account is £500 and the maximum investment is £125,000.

The minimum amount required to keep a 90-Day Notice account open is £500.

Can I withdraw money?

90 days’ notice is required for any withdrawal from your account.

The notice period starts on the date we receive your request via our online service, or a completed withdrawal notification form or by a signed confirmation letter.

The minimum withdrawal amount is £250 and withdrawals must be for a specific amount unless the account is to be closed.

Withdrawals should be requested using using our online service. You can also use our Withdrawal form or send us a letter signed by whoever is authorised to operate the account.

Additional information
This Summary Box should be read in conjunction with the following brochures and leaflets before applying for a 90-Day Notice account:
• 90-Day Notice account brochure
• Saving with Ecology – General terms and conditions
• FSCS Information Sheet
• Current savings rates and charges
• Our range of savings accounts
• Savings account identification requirements

How to apply

Applying for an account is simple. We’ll guide you through the process step by step.

1

Register with our online service or log in to your account below

2

Fill in our online application form

3

Start saving for a greener future

New to Ecology?

You’ll need to register with us before you apply for a 90-Day Notice Savings Account.

Register

Existing Member

If you’re an existing Ecology member, log in to your account online or register for our online service to apply.

Login Register
How to apply if you are under 18 years old
Young person (16-17 years old)

An account can be opened by a young person aged 16-17 years with a cheque or a payment from an account in their name. You must complete an application form and send it to us. See the section on 'How to apply below'.

Alternatively, a parent/guardian or relative can open an account on the behalf (and in the name of a young person (16-17 years old) with either:

  • a cheque (drawn on their own personal current account);
  • a bank or building society cheque (supported by an investment account statement); or
  • a bank transfer.

A covering letter that confirms the relation to the young person and declares that the money will indeed be used by the young person must also be provided during the application. We will need to verify the identity and address of the young person. For details of how this is done, please read the Savings account identification leaflet.

Child (under 16 years old)

An account can be opened by a parent/guardian or relative as a trustee for a child under the age of 16 years if the parent/guardian or relative makes an initial deposit from an account held in their name.

Applicants (the parents/guardians or relatives) must each have their identity verified in accordance with the information provided in the Savings account identification requirements leaflet. Birth/Adoption certificate (original only), NHS Medical Card or National Insurance notification letter must also be provided during application.

How to apply for a 90-Day Notice account

Step 1.
Please read all the documents on the right before applying

Step 2.
Tick to download a 90-Day Notice account application form

Step 3.
Post your application form to us - please note, scanned copies are not accepted

Please note our identification requirements
list in case we request more information 

Please read these leaflets and tick to download the application

90-Day Notice account application

Our impact

Our impact isn't about the profit we make – it's about the difference we make to the environment and to communities across the UK.

Since 1981 we've lent to over 3,500 projects, supporting individuals, charities, environmental businesses and community-led housing organisations to realise their sustainable living ambitions.

In 2021 we lent £69.4 million to support 371 sustainable properties and projects.

 

 

Rated as an ethical Best Buy for our mortgages and savings

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UntitledYour eligible deposits with Ecology Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. Download the FSCS leaflet for further details or visit www.fscs.org.uk | FSCS Information Sheet