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British digital banking group Tandem Bank has unveiled a new green instant access savings account for environmentally-conscious customers

The newly launched Green Instant Access Saver account offers customers with an interest rate of 0.5% AER.

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Tandem Bank co-founder and CEO Ricky Knox said: “We’re on a mission to educate and empower consumers about green finance. We’re making it simpler and quicker for them to achieve sustainable living, both with respect to the environment and their money.”

“I originally founded Tandem with the number-one intent of building ‘The Good Bank’ – one that puts customers’ needs first and takes the stress out of money management.”

A recent survey by Tandem showed that almost two-thirds of consumers would switch banks if they were more environmentally friendly while over half of them admitted that they don’t know where to begin or go.

The bank said it will soon roll out new green products and services, including Green Mortgage solution.

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Knox added: “The launch of the Green Instant Access Savings Account and our other green products and services that will follow suit, demonstrate our commitment to building ‘The Good Green Bank’, one that enables customers to understand and reduce the environmental impact of their finances and help to create a more sustainable planet for us ally.”

The new development follows the bank’s purchase of green loan company Allium last year, expanding its in-house lending suite.

Allium offers loans to homeowners who were looking to enhance the environmental credentials and energy efficiency of their homes which is said to amount for 13% of total CO2 emissions in the UK.

Earlier this month, Tandem Bank announced the purchase of a mortgage book worth £100m from private bank Bank and Client (B&C).