Apply for a Triodos One Year Ethical Savings Bond

Summary Box

Everything you need to know about the Triodos Ethical Savings Bond, including key features.

What is the interest rate?

Interest rate is fixed for the term. Rates for each term are:

Term	1 year
Rate	4.00% gross/AER*

Interest is calculated daily and paid annually and on maturity, or paid monthly to your chosen interest payment account. The interest rate you receive will be fixed on the date that your full opening deposit is received, so may be different to the rate shown when you applied for the account.

Can Triodos Bank change the interest rate?

No – the interest rate is fixed when your full opening deposit is received and your application is complete. You will be able to check the interest rate that has been applied in Internet Banking.
Rates may change between the time the application is made and the time the account is opened and full opening deposit received.

What would the estimated balance be on maturity based on a £1,000 deposit?

Term	1 year
Balance	£1,040.00

This estimate is based on £1,000 being deposited at account opening, no further deposits or withdrawals being made and interest being added to the account annually and at maturity. This projection is for illustrative purposes only and does not take into account your personal circumstances.

How do I open and manage my account?

Account holders must be aged 16 or over.
To open an account the account holders must be UK residents.
The account can only be opened on our website. A smartphone or tablet will be required to complete identification checks after your initial application has been received.
The account can be opened in sole or joint names.
The minimum opening deposit is £500.
You will need to provide details of a nominated account for payment of the opening deposit and for receipt of all withdrawals. This must be a sterling account with another UK bank or building society or another Triodos Bank UK account in your name.
The opening deposit must be made by electronic transfer from a nominated account or from an existing Triodos UK account.
No further deposits are allowed after the full opening deposit is received.
The maximum balance is £1,000,000.
The account can be viewed online.
The interest rate you receive will be fixed on the date that your full opening deposit is received, so may be different to the rate shown when you applied for the account.
The fixed term will start on the date that your full opening deposit is received.

Can I withdraw money?

Once your full opening deposit has been paid there is a 30 day cancellation period when you will be able to cancel your Ethical Savings Bond and your money will be returned to you.
Once the cancellation period has ended withdrawals are not allowed.
The account can only be closed on death of a sole depositor or in exceptional circumstances at our discretion.

Additional information

A minimum of 30 calendar days before the fixed maturity date we will contact you to inform you of your options. At maturity the Account will automatically be changed to a variable rate savings account, unless you advise us to do something differently.

*The gross rate is the rate payable without any tax taken off. Credit interest on all our accounts is paid gross. You may need to pay tax to HM Revenue & Customs if the total interest you earn is greater than your Personal Savings Allowance. Visit www.gov.uk/apply-tax-free-interest-on-savings for more details.

** AER shows what the interest rate would be if interest was paid and compounded once each year.

What you'll need to have

Details of an existing UK bank account in your name(s), which we call your nominated account - you'll need the sort code, account number and account holder's name
Your previous address if you've moved in the last twelve months
Your UK National Insurance Number or Tax Identification Number (if you have one)

Start application

We are required by law to check the identity of customers opening an account. To help us verify your identity and address we may make an electronic search using the information you provide. We may need to ask you to send in further information and documents.

We will also use fraud prevention agencies to help us make decisions. A short guide to what we do and how we will use your information is detailed on your Terms and Conditions. For full details of how your data may be used, read our Privacy Statement or call us. By proceeding you accept that we may use your information in this way.

Apply for a Triodos One Year Ethical Savings Bond

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