RCI Bank E-Volve Savings 14 Day Notice Account
Our passion is helping you save for the future, so let's protect it first.
Save your money using an RCI Bank E-Volve Savings account to support the effort to finance electric vehicles, whilst receiving a rewarding rate.
RCI Bank E-Volve Savings 14 Day Notice Account : 1.70% AER gross variable
With a rewarding rate and our 7 day service, the RCI Bank E-Volve Savings 14 Day Notice Account is perfectly designed to help you save for the future.
  • All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities*
  • Pay in from £1,000 up to £1m
  • You can't close your account or make any withdrawals without providing 14 days' notice
  • Interest paid monthly or annually
  • Deposits held by RCI Bank are protected up to a total of £85,000 by the FSCS compensation scheme, the UK's deposit guarantee scheme
  • UK-based support, seven days a week
  • Apply in minutes
RCI Bank E-Volve Savings 14 Day Notice Account
1.70%
AER gross variable
  • All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities*
  • Pay in from £1,000 up to £1m
  • You can't close your account or make any withdrawals without providing 14 days' notice
  • Interest paid monthly or annually
  • Deposits held by RCI Bank are protected up to a total of £85,000 by the FSCS compensation scheme, the UK's deposit guarantee scheme
  • UK-based support, seven days a week
  • Apply in minutes
Summary Box

Account Name

RCI Bank E-Volve Savings 14 Day Notice Account

What is the interest rate?

  • 1.70% AER gross variable (annual interest)
  • 1.69% AER gross variable (monthly interest)
  • The above rate is effective from 12 August 2022
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis
  • Interest is calculated daily and can be paid monthly or annually, the date we pay your interest is linked to the date we receive your initial qualifying deposit
  • Interest is paid without tax being deducted

Can RCI Bank change the interest rate?

  • Yes. The interest rate is variable, and we can change the rate of interest on existing accounts by giving you at least 28 days’ notice, usually by email. We can change the rate for a new account applications at any time.

What would the estimated balance be after 12 months based on a £1,000 deposit?

  • After 12 months your estimated balance would be £1,017.00
    • This based on £1,000 being deposited for 12 months at the current rate, with no withdrawals being made during this time
  • This is for illustrative purposes only and does not take into account your individual circumstances

How do I open and manage my account?

  • If you are aged 18 or over and reside in the UK, you can apply for and manage your account online, 24/7 at rcibank.co.uk.
  • Savings can also be manged via our mobile banking app, for more information click here.
  • To keep your account open, we need to receive an initial minimum deposit of £1,000 within the first 14 days from application.
  • Unlimited deposits can be made within the first 14 days from application (up to the maximum account balance allowed of £1m) but the first deposit must be for a minimum of £1000.
  • You can pay in money from your linked bank account (the UK bank account you nominate during your application) or from an existing RCI Bank savings product, subject to the Terms and Conditions of that product.

Can I withdraw money?

  • Yes, you can make unlimited withdrawals, subject to providing 14 days’ notice.
  • If you need your money on the same or next working day, we also offer electronic payments by CHAPS which are available by request only and are charged at £15 per transfer, which is non-refundable

Additional Information

  • If you wish to close your account, you can do this by writing to us within 14 days of your account opening date. You can inform us by:
    • Secure mail: Click ‘Send Message’ when logged into online banking.
    • Email: hello@rcibank.co.uk
    • Write to: ‘Freepost RCI Bank’ (no stamp or address details needed)
  • Your account can also be closed through online banking, subject to a minimum of 14 days’ notice being provided
  • A closing statement will be available online for up to 12 months after closure
  • Interest is paid gross with no tax deducted.

We know a key area of combatting climate change is to help reduce greenhouse gas emissions caused by petrol and diesel vehicles. The RCI Bank E-Volve Savings 14 Day Notice Account supports the lending to help UK drivers transition to environmentally cleaner electric vehicles. All deposits collected through the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund electric vehicles and EV charging infrastructure financed through RCI Bank’s affiliated businesses Renault Finance, Nissan Financial Services, and Mobilize Power Solutions.

Deposits held across all RCI Bank's products are protected by the FSCS protection scheme (up to a total of £85k per person). As well as this security, by opening our E-Volve Savings account you will benefit from a rewarding rate whilst also supporting the UK’s evolution to zero-emission electric vehicles. 

*The RCI Bank E-Volve Savings 14 Day Notice Account is a deposit product designed to comply with the most rigorous and widely recognised standards in green finance. Funds deposited into the RCI Bank E-Volve 14 Day Notice Account will initially be used to fund pure electric vehicles and charging facilities. However, we will look at opportunities to expand into other environmentally sustainable transportation projects as covered by UK legislation. For more information on how we intend to use these deposits and to understand the frameworks we are working within, please open and read the ACCOUNT SUMMARY document at the bottom of this page. You can also find out more information by viewing the RCI Bank E-Volve Savings video or by visiting our FAQs page.

 

    

What could your savings earn you?
Enter an amount into the calculator and learn more about what interest your savings could earn
Our rates and charges:
The rate shown is available to new and existing customers and is kept the same for notice accounts opened and funded within 14 days of application
The account is free to access and use, and allows you to make as many deposits and withdrawals as you like. Withdrawals are subject to a 14 day notice period
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year
Gross is the interest rate you’ll receive before tax is deducted
Important information:
Notice Savings Accounts are available to UK residents aged 18 or older who have the right to reside indefinitely within the UK
You can't make any withdrawals without giving 14 days' notice
You need to pay in and out through an RCI Bank savings account or a 'linked' UK current account. You can link a UK current account when you apply
If you're not happy with the account, you have a cooling off period of 14 days to cancel your account
All funds deposited into the E-Volve Savings account will be used exclusively for the purpose of financing electric vehicles and charging points