Summary

CITRA 11th Issue (Personal)

  • Available by way of our qualifying 5-year Community Account (Personal).
  • CITRA 11th Issue capacity has limited availability and is offered on a first come first served basis.
  • Savers can claim Income Tax relief of up to 5% of the invested amount for each of 5 tax years starting with the year in which the investment is made. This gives a total tax relief of up to 25% of the invested amount (see our Key Features document CITRA 11th Issue - Key Features)

Charity Bank 5-year Community Account (Personal) [Qualified with CITRA 11th Issue]

  • Available to individuals who are tax resident in the UK.
  • This account acts as a qualifier to open a CITRA 11th Issue.
  • You will also need to apply for a CITR account 11th Issue (Personal).
Step One - Apply Online - 5-year Community Account (Personal) Step Two - Apply Online - CITRA 11th Issue (Personal)

Fixed period CITRA 11th Issue (Personal)
£3,750 - £500,000
Charity Bank 5-year Community Account (Personal)
£3,750 - £500,000
5-years 0.05% deposit interest (Gross* / AER**) 0.20% deposit interest (Gross* / AER**)
5-years 5.00%*** Income tax relief p.a. N/A

*Gross is the interest rate without tax deducted.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
***Please refer to our CITRA 11th Issue – Key Features for full details and worked examples of potential returns to savers. Minimum and maximum returns for each income tax banding are shown below along with those for corporation tax payers.

  • Basic rate tax: 2.625% to 3.25% (subject to an individual’s utilisation of their personal savings allowance)
  • Higher rate tax: 2.625% to 4.29% (subject to an individual’s utilisation of their personal savings allowance)
  • Additional rate tax: 4.67% (no personal savings allowance)
  • Corporation tax: 3.21% (tax rate of 19% used)

UK tax legislation, which may be subject to change, may have an impact on your personal tax position.

CITRA 11th Issue (Personal)
Payment of interest: Interest will be paid gross.
Fixed term: Five years.
Withdrawals: No withdrawals for the first three years. See the CITRA 11th Issue Key Features for information about amounts that can be drawn without penalty thereafter.
Minimum initial deposit (Existing savers): £3,750.00 – the deposit in the CITR11 account must not exceed the 1.00:1.00 basis.
Minimum initial deposit (New savers): £7,500.00 – the deposit in the CITR11 account must not exceed the 1.00:1.00 basis.
Maximum deposit: £500,000.00 can be placed in the CITR account 11th Issue.
Paying money in: You can elect to fund your account by electronic transfer or cheque. Additional payments to the account cannot be made once it has been opened.
Number of account holders: One.
How we calculate interest: Interest is calculated daily and added to your account quarterly in March, June, September and December.
What would the estimated balance be after 60 months based on a £3,750 deposit? Based on an interest rate of 0.05% gross, the estimated balance on a £3,750 deposit after 60 months would be £3,759.38. This illustrative example assumes no withdrawals, no changes to the managed interest rate over the period and interest is paid and compounded quarterly. (The illustrative example does not take into account the individual circumstances of a customer)
How does the Income Tax benefit work? For example if a saver put £15,000 into a CITRA 11th Issue on 1 February 2021. The amount for each tax year for which relief may be claimed is £15,000 i.e. tax relief of £750 (5% of £15,000) may be claimed for the tax year 2020/21 (the tax year in which the saving was made) and for each of the four subsequent tax years. (UK tax legislation, which may be subject to change, may have an impact on your personal tax position.)
Managing your account: Once opened all accounts are operated by post. We can answer any questions directly by email or over the phone.
Charity Bank 5-year Community Account (Personal)
Payment of interest: Interested is calculated daily and credited to your account on each anniversary and at maturity.
Fixed term: Five years.
Minimum initial deposit (Existing savers): The minimum amount that can be put into a 5-Year Community Account is £3,750.00.
Minimum initial deposit (New savers): The minimum amount that can be put into a 5-Year Community Account is £7,500.00.
Maximum deposit: £500,000.00 thus, qualifying for a deposit in the CITR 11 Issue of £500,000.00 too.
Number of deposits: One only.
Withdrawals: No withdrawals or closures before the maturity date.
Paying money in: You can fund the account by electronic transfer or cheque. Additional payments to the account cannot be made once it has been opened.
Number of account holders: One.
How we calculate interest: Interest is accrued daily.
Managing your account: Once opened all accounts are operated by post. We can answer any questions directly by email or over the phone.
What would the estimated balance be after 60 months based on a £3,750 deposit? Based on an interest rate of 0.20% gross, the estimated balance on a £3,750 deposit after 60 months would be £3,787.65. This illustrative example assumes no withdrawals, no changes to the managed interest rate over the period and interest is paid and compounded annually. (The illustrative example does not take into account the individual circumstances of a customer)

CITRA 11th Issue (Personal)

  • Access: New savers open an account with £7,500, existing savers with £3,750. You can deposit up to £500,000. Deposits in your CITRA 11th Issue (Personal) may not exceed the 1.00:1.00 basis to deposits in your 5-year Community Account (Personal).
  • Return: lock your savings away for five years and enjoy 0.05% gross* / AER** interest and 5% income tax relief for each year of the term.
  • Social impact: your money will be used to support charities and social enterprises across the UK.
  • Ready to start saving? Find out where your money goes

Charity Bank 5-year Community Account (Personal)

  • Access: New savers open an account with £7,500, existing savers with £3,750.
  • Return: lock your savings away for five years and enjoy 0.20% gross* / AER**.
  • Social impact: your money will be used to support charities and social enterprises across the UK.
  • Ready to start saving? Find out where your money goes

CITRA 11th Issue (Personal)

  • Opening an account: The CITRA 11th Issue (Personal) is available to Charity Bank 5-year Community Account (Personal) holders.
  • Saving for impact: You can deposit up to £500,000. Deposits in your CITRA 11th Issue (Personal) may not exceed the 1.00:1.00 basis to deposits in your 5-year Community Account (Personal).
  • To view the full Terms for personal savers please click here.

Charity Bank 5-year Community Account (Personal)

  • Opening an account: The Charity Bank 5-year Community Account (Personal) is open to individuals over the age of 16 who are permanent UK residents / taxpayers.
  • Saving for impact: You can deposit up to £500,000.
  • To view the full Terms for personal savers please click here.

CITRA 11th Issue (Personal)

  • Getting started. Once you've opened your account with us, we'll send you a welcome pack explaining how to manage your account, claim your tax relief and find out where we’re investing your money.
  • Your impact. You’ll receive annual bank statements with a twist: you’ll see how your savings have grown and you’ll learn about some of the organisations your savings have supported.
  • Withdrawals. When your account matures your funds will be transferred into the account from which they originated – your Nominated Account.
  • Staying in touch. You can call us directly to check your account details and rates. Questions? Talk to us if you have any questions – t: 01732 441944 e: enquiries@charitybank.org

Charity Bank 5-year Community Account (Personal)

  • Getting started. Once you've opened your account with us, we'll send you a welcome pack explaining how to manage your account and find out where we’re investing your money.
  • Withdrawals. No withdrawals before the maturity date. You will be notified before the account matures and unless you instruct us otherwise, your account will mature into a Charity Bank Savings Account with 33-day notice.
  • Staying in touch. You can call us directly to check your account details and rates. Questions? Talk to us if you have any questions – t: 01732 441944 e: enquiries@charitybank.org

Protecting your money