The rate rise comes following the news earlier this week that RCI Bank has launched its first green savings product – the ‘RCI Bank E-Volve Savings’ 14 Day Notice Account. The new Fixed Term rates are as follows:

All RCI Bank accounts can be opened by UK residents aged 18 years and over . The Fixed Term Accounts require £1,000 minimum deposit. While the call centre is based in the UK and available seven days a week, accounts can also be managed online and via the RCI Bank app, giving customers the freedom to manage their own finances.

Tafari Smith, Head of Savings, RCI Bank: “Following the launch of our first green savings product earlier this week, we’re delighted to be able to continue to improve our product portfolio with this increase to our Fixed Term Account rates.

“Since launching six years ago we have been committed to offering competitive rates and simple products, and the hope is that with our new RCI Bank E-Volve Saver 14 Day Notice product and these latest rate rises, we are helping savers look longer term when it comes to saving for their future, as well as the future of the planet.”