The information provided in this Summary Box is a summary of the key features of the 35-Day Notice account. It is not intended to be a substitute for reading the Product Conditions that apply to the account.
Account name: 35-Day Notice
What is the interest rate?
The 35-Day Notice account offers a variable rate of interest of 3.70% gross* p.a./AER**
Interest is calculated daily and credited to your account on 31 December each year. If you close your account before 31 December we’ll credit the interest to your account on the day you close it.
* 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.
Where we make any such change, we will act reasonably. We’ll only make the change if we believe it is fair in the circumstances.
For further information regarding interest rate changes including the process for notifying you, please refer to section 10 in our General Savings Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on an interest rate of 3.70% gross, the balance on a £1,000 deposit after 12 months would be £1,037.00.
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.
You can manage your account online (restrictions apply) or by post.
With our Digital service, you can view your account transactions, make payments, send secure messages and request a withdrawals. Payment may take up to two working days to show on your account.
Deposits can be made by Standing Order, bank transfer, or transfer from another Ecology account.
The minimum amount to open and keep a 35-Day Notice account is £500. The maximum investment is £500,000.
People aged 18+ can open an account online. People aged 16-18 can open an account by post and accounts can be opened for children by post. Joint accounts are allowed.
Can I withdraw money?
Yes, you can withdraw money. 35 days’ notice is required for any withdrawal from your account. The minimum withdrawal amount is £250 and withdrawals must be for a specific amount unless the account is to be closed.
The notice period starts on the date we receive your withdrawal request. We’ll send you a letter or Online message confirming the end date of your notice period and when we’ll process your withdrawal.
Withdrawals can be requested online, by telephone, or if you operate your account by post, by using a Withdrawal form.
Additional information
This Summary Box should be read in conjunction with the following documents before applying for a 35-Day Notice account:
• 35-Day Notice Product Conditions
• General Savings Terms and Conditions
• FSCS Information Sheet
• Current Savings Rates and Charges
• Savings Account Identification Requirements
