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17 November 2021

RCI Bank E-Volve Saver, the green savings product that finances electric vehicles in the UK

A few days after the UN Climate Conference (COP26), RCI Bank our UK subsidiary dedicated to online savings just launched its first green savings product: RCI Bank E-Volve Saver. This new product is designed to help drive the switch to electric vehicles (EVs), in a step towards tackling climate change.  

Deposits into RCI Bank E-Volve Saver will be used exclusively for the financing of EVs, charging infrastructure and future green mobility projects. This new product enables consumers to put their money towards supporting both greener transport and mobility, which answers to a new demand from customers. 

RCI Bank’s E-Volve Saver is launched as a 14-day notice account with a 0.55% AER Gross Variable. It is available to new and existing customers. 

Minimum pay in is £1,000 and maximum deposits is £1 million. Find more about the terms of RCI Bank E-Volve Saver account on RCI Bank’s website (LIEN vers page produit RCI Bank). 

The product fully considers the nascent regulatory and industry standards for green finance in the EU and UK, especially the Green Loan Principles (use of proceeds, project evaluation and selection, management of proceeds, reporting). Hence, RCI Bank E-Volve Savings deposits are tracked and recordable. 

“Consumers are more conscious of their own environmental impact and are looking to live in more sustainable ways. RCI Bank is ideally placed to give our banking customers the confidence – and the options – to make sustainable choices that help them save for a better tomorrow, whilst helping to accelerate the switch to EVs.” 

Alice Altemaire, Chief Executive Officer at RCI Bank