New NatWest account launched for eco-friendly people

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New NatWest account launched for eco-friendly people

Tue 21st Oct 2008

A new NatWest account has been launched for people who want to benefit the environment with their savings.

The EcoGrowth account has two deposit options, giving consumers a choice on how they wish to save.

One possibility includes a fixed cash element linked to the Royal Bank of Scotland Green Index.

The fixed cash element, worth one-third of the balance, matures after a year with a seven per cent rate of return gross annual equivalent rate (AER).

After that, customers receive the remaining two-thirds of the deposit plus 70 per cent of the calculated growth in the index on the amount.

The second option puts the entire deposit into a four-year "green" business sector account, with customers receiving their deposit and either a minimum 12 per cent return or 70 per cent of the calculated growth in the index on the full deposit, whichever is greater.

NatWest launched a range of new savings accounts in September.

The offers included a two-year, fixed-rate bond at 6.6 per cent AER and a cash Isa.

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