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Saving can be done ethically, claims Triodos Bank

Ethical bank Triodos has increased the rate on its Online Saver Plus product. It claims the savings account gives UK savers the opportunity to make a difference while getting a good interest rate.

The interest rate is now at 2.5% gross/AER variable, including a fixed 12-month introductory bonus of 1.5%.

Up to three penalty-free withdrawals are permitted within a 12-month period. In months where a withdrawal is made in excess of this limit, a rate of 0.1% will be paid for the month.

Charles Middleton, managing director at Triodos Bank, said: “Individuals can feel powerless in the face of huge challenges, and it isn’t always easy to know what we can do differently.

“I believe strongly that a key change that everyone can make is thinking about how banks use their money and where they choose to put their savings.

“By switching to ethical banking, savers can make a conscious choice on putting their money to positive use in our society whilst still receiving a good return.

“They can vote with their feet on the prevailing greed and inequality that we see, and together we can make things happen.”

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