Archives: FAQ - Savings

35-Day Notice Summary Box

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

7. Additional personal information that we process in connection with core capital deferred shares

This includes:

  • Your financial details e.g. details of account(s) held with other providers to administer payments to you for distributions and from you for your investment;
  • Information on source of funds for any investment made;
  • Information about your tax position including citizenship, tax residency, National Insurance Number, Tax Identification Number (where applicable); and
  • Where a transfer of core capital deferred shares is made to another person, information about that person and the transfer.

Earthwise Cash ISA (ex-TESSA ISA)

Key Features

  • Variable interest rate of 3.10% gross* p.a./AER**
  • Minimum interest rate guarantee of 1.00% gross* p.a./AER**
  • Due to restrictions within our system, we cannot accept additional deposits into converted Cash ISA products
  • No notice withdrawals
  • Minimum balance required to keep the account open is £25
  • View your account, request withdrawals and send secure messages via our online service (restrictions apply)
  • Operation also available via free First Class Business Reply post
  • Interest payable on 5 April
  • Statements issued annually in April
  • Voting rights available (1)

*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.

1) 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.

Ecology Cash ISA Summary Box

The information provided in this Summary Box is a summary of the key features of the Ecology Cash ISA. It isn’t intended to be a substitute for reading the Product Specific Conditions.

Account name: Ecology Cash ISA

What is the interest rate?

The Ecology Cash ISA will offer a variable rate of interest of 3.60% tax free* p.a/AER**.

Interest is calculated daily and credited to your account on 5 April each year. If you close the account before 5 April we’ll credit the interest to your account on the day you close it.

* All lSA 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.

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 and we will 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 3.60% tax free, the balance on a £1,000 deposit after 12 months would be £1,036.00.

This illustration is an example to help you compare accounts. It does not take into account your individual circumstances.

How do I open and manage my account?

Applications can be made online or by posting a completed application form.

The ISA investment will be, and must remain in, the beneficial ownership of the investor and must not be used as security for a loan.

You can manage your account online by using our Digital service (restrictions apply) or by post.

You can view your account transactions, send secure messages and request
withdrawals online.

Deposits to this account can be made by bank transfer, Standing Order, or cash ISA Transfers In from another provider or Ecology ISA.

Payments can take up to two working days to show on your account.

The ISA investment limit for the 2024/2025 tax year is £20,000 and the minimum amount to open and maintain an Ecology Cash ISA is £25.

Can I withdraw money?

Yes, you can withdraw money. Withdrawals must be for a specific amount unless the account is to be closed. Accounts can be closed upon request and with no penalty. The minimum amount to open and maintain an Ecology Cash ISA is £25.

If you make a withdrawal, the value may only be replaced by further payments where the annual investment limit for the relevant tax year has not been reached.

Withdrawals should be requested online via our Digital service (restrictions apply), 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 an Ecology Cash ISA:
• Ecology Cash ISA Product Conditions
• General Savings Terms and Conditions
• FSCS Information Sheet
• Current Savings Rates and Charges
• Savings Account Identification Requirements

Foundations Cash ISA

Key Features

  • No additional deposits can be made into this account
  • Variable interest rate of 3.10% gross* p.a./AER**
  • Minimum interest rate guarantee of 1.00% gross* p.a./AER**
  • No notice withdrawals
  • A minimum balance of £25 is required in your account
  • View your account, request withdrawals and send secure messages via our online service (restrictions apply)
  • Interest payable on 5 April
  • Voting rights available [1]


*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.

[1] 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.

24. Updates to this privacy notice

This privacy notice may be updated from time to time. This means we may send you an updated copy (depending on whether we are required to do that or not) or notify you of the changes.

Foundations Cash ISA Summary

Key Features

  • Variable interest rate of 1.10% gross* p.a/AER**
  • Minimum interest rate guarantee of 1.00% gross* p.a./AER**
  • The minimum amount to open a Foundations Cash ISA is £25
  • The maximum ISA allowance is £20,000 for the 2020/2021 tax year
  • We're not accepting deposits after 1 April for the 2021/2022 tax year
  • No-notice withdrawals; however, if a withdrawal is made, the value may only be replaced by further subscriptions where the annual investment limit for the relevant tax year has not been reached.
  • A minimum balance of £25 is required in your account
  • Monthly savings options
  • View your account, request withdrawals and send secure messages via our online service (restrictions apply)
  • Deposits can be made via bank transfer, Direct Debit or by cheque
  • Interest payable on 5 April
  • Limited to one ISA per member
  • This account is not available for children
  • Voting rights available


*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.

1)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.

Regular Savings Summary Box

The information provided in this Summary Box is a summary of the key features of the Regular Savings account. It isn’t intended to be a substitute for reading the Product Specific Conditions.

Account name: Regular Savings

What is the interest rate?

The Regular Savings account offers a variable rate of interest of 3.85% gross* p.a./AER**.

Interest on this account is calculated daily and credited on 31 December. If you close the account before 31 December we’ll credit the interest 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’ll act reasonably. We’ll only make the change if we believe it’s fair in the circumstances.

For further details about interest rate changes including the process for notifying you, please refer to section 10 in our in our leaflet General Savings terms and conditions.

What would the estimated balance be after 12 months based on a monthly deposit of £250?

Based on an interest rate of 3.85% gross, the estimated balance on a monthly deposit of £250 after 12 months would be £3,062.56, that’s £62.56 of interest.

This illustration is an example to help you compare accounts. It does not take into account any individual circumstances.

How do I open and manage my account?

Applications for this account can be made online or if you operate your account by post, 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 withdrawals. Payments can take up to two working days to show on your online account.

Deposits can be made by bank transfer, Standing Order, or transfer from another Ecology account.

You can save between £10 and £250 a month with the maximum investment being £3,000 per calendar year.

If your regular payment is less than £250, you can top it up to the value of £250 during the month. If you pay more than £250 into this account in a month, the money over £250 will be automatically returned to you.

The minimum amount required to keep a Regular Savings account open is £10.

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 twice a year. If you need to withdraw more than twice, you must close the account. The minimum withdrawal amount is £10 and withdrawals must be for a specific amount unless the account is to be closed.

There is no notice period for withdrawals with the Regular Savings account. Accounts can be closed at any time upon request, with no penalty and in addition to the two withdrawals.

Withdrawals can be requested online (restrictions apply), 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 Regular Savings account:
• Regular Savings Product Conditions
• General Savings Terms and Conditions
• FSCS Information Sheet
• Current Savings Rates and Charges
• Savings Account Identification Requirements