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Make a Change this ISA Season
Ethical Bank Launches Competitive Online ISA Paying 2.5%
- Triodos Bank launches Online ISA at 2.5% gross (2.52% AER)
- Includes a 0.75% bonus for 12 months
- Savers flock to ethical ISAs to make a difference
Triodos Bank, the UK’s leading ethical bank, is launching an Online 90 day notice cash ISA account paying a competitive 2.5%, including a 12 month bonus of 0.75%.
The online ISA, which will be available from Monday February 27th, reflects the ongoing demand for ethical savings products as savers become less satisfied with traditional providers. Since the economic downturn savers have flocked to ethical ISAs; Triodos Bank saw an increase of 71% in ISAs between April 07 to May 2011, whereas the rest of market saw an increase of 52% during the same period.*
The new Online ISA reflects the changing appetite of UK consumers, who are looking for competitive rates, but also want a bank that does not compromise their ethics. The recently launched Move Your Money campaign also reflects the changing attitudes to the UK banking system, as just over 2,000 people have already signed a pledge on moveyourmoney.org.uk to take concrete action to create a more stable and ethical banking system by moving their money away from the Big five banks.
Huw Davies, Head of Personal Banking at Triodos Bank, said: "As the end of the tax year arrives we know savers will be looking to use their ISA allowance and make the most of their savings. We believe savers should be able to have a competitive rate but also a social and environmental return. Many savers are concerned about where their money goes once deposited, and are challenging the big banks.
"At Triodos Bank, our savers will always know exactly how we are using their money, and that it is only financing organisations delivering a positive environmental, social or cultural impact. Moving your ISA to Triodos not only means you get a good financial return, but also peace of mind that your ISA is making a positive difference to people, society, and environment".
Via the website www.knowwhereyourmoneygoes.co.uk savers can see the projects their deposits are funding, such as the solar PV installation at Glastonbury’s Worthy Farm, Hugh Fearnley-Whittingstall’s River Cottage, green power company Ecotricity and more than 1,500 other sustainable enterprises. In contrast to the opaqueness of more mainstream banks, Triodos publishes to its customers exactly how their money is being used.
Triodos Online 90 day Notice ISA is available to customers who apply online at www.triodos.co.uk . The minimum deposit is £10.
Notes to editors
For more information, comment or a case study, please contact:
020 7566 9731
The bank only finances enterprises which create social, environmental or cultural added value. Key sectors include organic food and farming, renewable energy, social housing, and fair trade. Transparency is a core value: customers are informed about the bank's lending.
A range of personal savings accounts is offered, and full banking services are available for businesses and charities. Triodos Bank is an independent bank founded in the Netherlands in 1980. Its principles and independence are protected through a special shareholding trust. The first UK office opened in 1995. Offices are located in Bristol, London and Edinburgh.