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Tax-free {ethically} - The Triodos Online Cash ISA

11-03-2010 | With record levels of dissatisfaction with UK's banking sector, and growing concerns over the pending environmental crisis, Triodos Bank is offering an alternative that means savers can have the best of both worlds. The Triodos Online Cash ISA offers savers a 2% (2.01% AER*) tax-free return, while their money actively supports the best of the UK's ethical enterprises.

Key features of the Triodos Online Cash ISA

  • 2.00% tax-free (2.01% AER)
  • £10 minimum deposit and a 33 days notice period
  • Money saved will only be lent to organisations that benefit people and the planet
  • Triodos is the UK's most transparent bank - visit www.knowwhereyourmoneygoes.co.uk for details of everyone they lend to.

"People want a better bank, and frankly they deserve one. The best way of demonstrating dissatisfaction with your bank is to vote with your wallet. Moving your savings to a genuinely different bank like Triodos is a great way of exercising that vote," says Charles Middleton, Managing Director of Triodos Bank UK.

"If you're interested in finding out how it feels to bank ethically, but haven't yet taken the first steps, then our ISA is a great place to start. You'll get a decent return on your nest egg and the assurance that your money's making an active contribution to a more sustainable society."

With the Easter bank holidays landing early this year, savers must act fast if they haven't already made the most of this year's tax-free ISA allowance. The latest you can apply for the Triodos Online Cash ISA is Monday 29 March, as your opening deposit must be with Triodos Bank by Thursday 1 April to be included in the 2009/2010 ISA allowance.

For more about Triodos Bank and to apply for a Triodos Online Cash ISA visit www.triodos.co.uk/onlineisa.

Notes to editors

Triodos 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 and can target their savings to particular areas of investment. 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 UK office opened in 1995 and is based in Bristol.

*Rates correct as of 11 March 2010. Interest rate quoted is Annual Equivalent Rate (AER) and illustrates what the interest rate would be if interest was paid and compounded once each year. Tax-free is the contractual rate of interest payable where the interest is exempt from income tax. The favourable tax treatment for ISAs could change. Interest is calculated daily and paid six monthly. Interest rate is variable. 33 day notice period. Minimum opening deposit £10.

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