The UK’s Ecology Building Society has launched an ‘innovative’ new savings product, the Ecology Single Access Saver.
The account offers a monthly variable interest rate of 4.25% annual equivalent rate of /4.17% gross until 31 October 2027, says Ecology.
“Importantly,” it adds, “account holders can benefit from a competitive interest rate while also having immediate access to their money with the account allowing one penalty-free withdrawal per calendar year, should it be needed.”
The Ecology Single Access Saver can be opened with a minimum of £2,000 and has a higher maximum threshold than other similar products, with up to £500,000 able to be saved in the account.
Applications can be made via the Ecology App or online at ecology.co.uk/ecologysas
The account is an addition to Ecology’s existing range of savings accounts, which help to fund positive community projects and the creation of energy efficient homes that are kinder to the planet.
“When you save with Ecology, you’re doing something meaningful with your money and supporting projects that are good for people and our planet,” said senior savings product and proposition manager Pauline Crawford.
“The Ecology Single Access Saver is an innovative new product that pays a competitive rate, while also providing immediate access once a year to your money. This means your money goes further, by supporting good causes, but stays in reach in case you need it.”
Ecology’s other savings products include notice accounts, a cash ISA and the Sea-Changers account, which sees the equivalent of 1% of average annual balances donated to the Sea-Changers marine conservation charity.
