A new savings account has been launched which aims to support renewable energy projects while providing an annual equivalent rate of 4.5 per cent.
The Triodos Renewable Energy Bond requires a deposit of £2,500 to £10,000 and intends to support sustainable energy projects using the funds provided by the account rather than paying a set donation.
“Consumers don’t have to tie up huge sums of money, as a relatively small deposit can help to make a big difference,” said Rachel Thrussell, head of savings at moneyfacts.co.uk.
“This is a true sign of ethical banking,” she added.
Meanwhile, those looking for the best savings account to suit their financial needs could benefit from Britannia’s DirectSaver, which has decreased its minimum opening balance from £1,000 to £100.
The bank has promised to match the DirectSaver’s interest rate to the Bank of England’s rate until July 2007. It currently stands at 4.75 per cent.
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