Zero Launches Planet Safe Saver: A Greener Way to Save with 3.66% Interest

Zero Launches Planet Safe Saver: A Greener Way to Save with 3.66% Interest

Zero, the sustainable alternative to traditional banking, has unveiled its first-ever savings product – the Planet Safe Saver – an easy access account offering a 3.66% AER variable interest rate. This launch marks a significant step in Zero’s mission to align financial services with environmental responsibility.

Based in Cardiff, Zero has designed the Planet Safe Saver for climate-conscious savers seeking a transparent and ethical savings solution. It promises no teaser or bonus rates that expire after a few months, instead delivering a consistent interest rate that only changes with the Bank of England’s base rate.

Zero’s sustainable finance policy ensures that customers’ deposits are never invested in fossil fuels, deforestation, tobacco, weapons, or other exploitative industries. This approach underpins the company’s commitment to using money as a force for planetary good.

Savers can open an account with just £1, and balances up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS). The product offers flexibility, with no fees or restrictions on withdrawals, reinforcing Zero’s values of fairness and transparency.

Zero customers also benefit from a free personal account, a Mastercard debit card, and GreenScore®, a feature that helps users understand the environmental impact of their spending. Additionally, 20% of Zero’s future value is earmarked for customers through community shares, offering a participatory model of value creation.

Richard Theo, CEO and co-founder of Zero, said:
“At a time when greenwashing is rife, we wanted to create something truly transparent – a savings account that delivers a competitive return without compromising values or using devious techniques to lure customers with sneaky teaser or bonus rates.

The Planet Safe Saver proves that saving money and saving the planet don’t have to be mutually exclusive. Now more than ever, people want their finances to align with their ethics, and this savings account makes that simple.”

The launch follows a successful crowdfunding round in which Zero raised £757,000 via Crowdcube, surpassing its target and bringing its total funding to nearly £4 million. With over 18,000 users already on its app, Zero is demonstrating strong consumer appetite for ethical financial services.

The Planet Safe Saver is available to customers with a Zero Personal Account. The account is provided through Bondsmith Savings Nominees Ltd and held with Griffin Bank – a B Corp-rated bank that commits to environmentally responsible banking practices and avoids lending to unsustainable industries.

To learn more or open a Planet Safe Saver, visit: zero.co.uk