Charities frequently face obstacles when it comes to getting a good interest rate on their savings. At Fair Investment we’re working with various financial service providers to help bring you better interest rates on your charity's savings. See below for our selection of the best charity savings accounts currently available.*
Latest easy access account deals
If you don’t want to tie up charity funds for too long in case they’re needed urgently, an easy access account might be worth considering. The Asset 30 Account offers a 30-day notice period and requires a minimum deposit of £5000, with an interest rate of 1.35% gross AER.
Latest notice account deals
You may be able to get a slightly higher interest rate if you’re prepared to accept a longer notice period. Gilliat’s 180-day notice account is a postal access account which requires a minimum deposit of £50,000 and offers 1.51% gross/AER variable with interest paid monthly.
Latest fixed rate bond deals
For those looking to save for a longer period of time, or who prefer traditional fixed term deposit accounts, there are terms available ranging for nine months to three years. The 9 Month Bond for Charities from Principality, a Fair Investment exclusive, offers 1.05% gross AER (fixed). For those looking to tie up funds for longer, Scottish Widows offers charities a 3 Year Fixed Term Deposit with a rate of 1.8% gross AER fixed for three years. Deposits start from £10,000.
Latest fixed rate bond alternatives
Those looking for long-term charity savings accounts might be interested in structured deposit plans, which provide an alternative to traditional fixed rate bonds. These accounts offer the potential for market-linked returns on your charity savings, while protecting your capital. The Investec Deposit Growth Plan offers returns of 130% x any FTSE 100 growth - with no upper limit - over a five year term.
No news, feature or comment should be seen as a personal recommendation to invest. If you are in any doubt as to the suitability of a particular investment you should seek independent financial advice.
* Data accurate as of 20/03/2013.
© Fair Investment Company Ltd