- Tiered, variable interest rates depending on your account balance as follows:
- £500 - £4,999 1.00% gross* p.a./AER**
- £5,000 - £9,999 1.15% gross* p.a./AER**
- £10,000 - £24,999 1.35% gross* p.a./AER**
- £25,000 + 1.45% gross* p.a./AER**
- 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
- Option to apply for an account on behalf of a child or in a child’s name (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 in the child’s name if the child is old enough to understand how to operate an account, or by parents or relatives as trustees for a child. For further information please refer to our Savings account identification requirements leaflet.
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.
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:
• £500 – £4,999 1.00% gross* p.a./AER**
• £5,000 – £9,999 1.15% gross* p.a./AER**
• £10,000 – £24,999 1.35% gross* p.a./AER**
• £25,000+ 1.45% gross* p.a./AER**
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 1.00% gross, the balance on a £1,000 deposit after 12 months would be £1,010.
The following projections are based on the minimum balances required to achieve the next interest rate tier:
Based on an interest rate of 1.15% gross, the balance on a £5,000 deposit after 12 months would be £5,057.50.
Based on an interest rate of 1.35% gross, the balance on a £10,000 deposit after 12 months would be £10,135.
Based on an interest rate of 1.45% gross, the balance on a £25,000 deposit after 12 months would be £25,362.50.
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?
Limited to one 90-Day Notice account per member.
With our online service, you can view your account transactions and send secure messages.
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.
Deposits can be made via bank transfer, Direct Debit or by cheque through the post. You can also save monthly by Direct Debit or standing order.
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 signed request and we will send you a letter confirming your withdrawal due date.
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 by using one of our Withdrawal/Notification forms or by sending us a letter signed by whoever is authorised to operate the account. You cannot give a notice request online via our online service.
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
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 3,000 projects, supporting individuals, charities, environmental businesses and community-led housing organisations to realise their sustainable living ambitions.
In 2018 we lent £38.4 million to support 255 sustainable properties and projects.
Jenny’s story: A simple and light urban Passivhaus
Project type: Self-build
In her mind’s eye, Jenny wanted a self-built home that was simple and beautiful, plain but not austere, with high ceilings and flooded with light from every direction. She also wanted to create a low-energy and low-tech build, constructed from sustainable, locally sourced materials. With the support of an Ecology mortgage, Jenny achieved this ...ReadSee all projects
Nina and Phil’s story: Big love for a smallholding
Project type: Woodlands
Frustrated by the ethos and stresses of many modern businesses, Nina and Phil wanted to do things differently. Their dream of running a sustainable, low-impact smallholding began in 2007. After viewing several parcels of land, the couple identified an inspiring fifteen-acre plot high above the town of Silsden in West Yorkshire. Approaching ...ReadSee all projects
Rob and Karin’s story: The first certified Passivhaus Plus in the UK
Project type: Self-build
Rob and Karin set out to build a comfortable family home that would improve their quality of life as well as reduce their carbon footprint. They chose the Passivhaus Plus standard for their build, which combines the Passivhaus approach to minimising energy requirements with on-site renewable energy generation. This means that the building ...ReadSee all projects
Irene and David’s story: Converting to Passivhaus
Project type: Conversion
After living happily in a Victorian house on the outskirts of Ripon, North Yorkshire, for 20 years, Irene and David were ready for a change. They wanted a home that was less costly to heat and maintain, in a location that would reduce their reliance on car travel. This is exactly what they achieved. Their new house is an energy-efficient converted ...ReadSee all projects
Ecology Building Society was rated as an ethical Best Buy for our mortgages, ISAs and savings accounts by Ethical Consumer magazine in its product guide rankings (May/June 2018 issue).
Your 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. Please click here for further information or visit www.fscs.org.uk | FSCS Information Sheet
In a child’s name
An account can be opened in a child’s name if a parent or relative provides a cheque (drawn on their own personal current account) or by a bank or building society cheque (supported by an investment account statement from the relevant bank or building society) and includes a covering letter, confirming the money is being given to the child and how they are related.
Important note: If an account is to be opened in a child’s name, the child must understand how the account will operate and be able to sign their own name.
The application should be accompanied by three items:
• A photocopy of the child’s birth certificate
• A photocopy of the child’s passport, medical card, school/college ID card or bus/train pass
• An original letter from the child’s school/college, doctor or dentist specifically referring to the child.
On behalf of a child (as a trustee)
An account can be opened by a parent or relative as a trustee for a child if the parent or relative provides a cheque (drawn on their own personal current account) or by a bank or building society cheque (supported by an investment account statement from the relevant bank or building society). Applicants (the parents or relatives) must each have their identity verified as specified for individual’s identification requirements. The application should be accompanied by a photocopy of the child’s birth certificate.
How to apply for a 90-Day Notice account
Please read all the applicable leaflets before applying
Tick to download a 90-Day Notice application form
Post your application form to us - please note, scanned copies are not accepted
Please refer to our identification requirements list in case we request more information
Please read these leaflets and tick to download the application
Verifying identities helps protect us all from fraud
- We carry out identification requirements to protect everyone from fraud
- Where possible, we will first use electronic searches to confirm your identity
All banks, building societies and financial institutions are required by law to verify the identity of any individual or organisation that opens an account with them. This is necessary to protect the organisation, its members and the public from fraud and also to help combat money laundering.
You should note that there may be occasions when documentation over and above that stated here will need to be produced and you will be told if this applies to you.
What we need to verify an individual's identity
Existing member - quote your account number on your application:
If you already have an account with us and quote your account number on your application, we may not need any further evidence of your identity and address.
New to Ecology:
If you're new to Ecology, we'll verify your identity via electronic searches
What we'll need if we request more information:
If we need more information, we'll ask you to provide us with two additional forms of identification, one from each of the tables (see below).
- HM Revenue & Customs tax notification
- Letter issued by the benefits agency
- Passport (certified copy)
- UK driving licence (certified copy)
- Bank current account statement
- Building society or bank investment account statement
- Council tax bill
- Gas bill
- Electricity bill
- Water bill
- Telephone bill (not mobile telephone)
- Mortgage statement
- Credit or store card statement
Joint account? You must each have your identity verified. However, both of you may rely on the same items from Table A and Table B if they are addressed to and clearly identify each of you.
- Online statements or downloaded documents cannot be accepted under any circumstances
- Any documents produced must be current and issued within the last 12 months
- The identification provided must be from different organisations
- All original documents will be returned to you when the account has been opened
- Copy documents are not acceptable, except in the case of passports and driving licences, which must be certified (see below)
Copies of passports and driving licences must be certified by one of the following:
- Bank or building society official
- Minister of religion
- Regulated financial adviser or mortgage broker
Certification: The document that is being certified must state 'original seen' as well as being dated and signed. The document should also include the name of the certifier, their profession and full contact details. If the identification is photographic, the certifier must state that 'the photograph is a good likeness of the applicant'. The certifier must not be related to the applicant in any way, or named as a joint account holder.