- Fixed rate account to meet the needs of credit unions saving with Charity Bank
- 0.45% Gross / AER*
Ethical 1-Year Credit Union Fixed Rate Account (Gross/AER)*
|Fixed Period||£25,000 - £500,000|
*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.
**If you are wishing to place deposits greater than £500,000, please contact our savings team on 01732 441944.
View our Historic Interest Rates for our Credit Union Savings accounts since January 2015.
|Payment of interest:||Interest will be paid gross i.e. without the deduction of tax|
|Minimum initial deposit:||£25,000|
|Number of deposits:||One only|
|Withdrawals:||When your account matures you can arrange an electronic transfer into your Nominated Account, or another eligible Charity Bank account.|
|Paying money in:||First payment by cheque or electronic transfer.|
|How we calculate interest:||Interest is calculated daily and added to your account on each anniversary of the investment and at maturity. There is no bonus interest payable.|
|Number of account holders:||Unlimited|
|What would the estimated balance be after 12 months based on a deposit of £25,000?||Based on an interest rate of 0.45% gross, the balance on a £25,000 deposit after 12 months would be £25,112.50. The illustrative example assume no withdrawals, no changes to the fixed 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)|
|Can Charity Bank change the interest rate?||The interest rate is fixed and cannot be altered in accordance with Section 9 Changes to interest rates of our Terms for organisations.|
|How do I open and manage my account?||You can open your account online or by post. We will answer any questions directly by email, telephone or post.|
|What happens at maturity of the fixed-term?||We will write to you before maturity to remind you of the date that your fixed-term ends. At maturity, you can either withdraw your funds to your Nominated Account, reinvest them in a new fixed-rate account or transfer them into an alternative Charity Bank account of your choice (subject to any specific account Terms). If you do not let us know what you wish to do by the maturity date, your account will automatically revert to an Ethical 40-Day Notice account and the managed interest rate will be confirmed to you in writing. The Ethical 40-Day Notice account is subject to the following condition: A signed letter giving 40 days’ notice is required for withdrawals and closures.|
- Access: open an account by making a single deposit from £25,000.
- Return: lock your savings away for a year and enjoy a fixed rate of interest (see the rates table above).
- Social impact: your money will be used to support charities and social enterprises across the UK.
- Opening an account: The Ethical 1-Year Credit Union Fixed Rate Account is available to UK registered credit unions looking to save and do good. All directors, additional signatories and shareholders must be permanent UK residents.
- Access: When your account matures you can arrange an electronic transfer into your Nominated Account, or another eligible Charity Bank account.
- Saving for impact: You can deposit up to £500,000.
To view the full Terms for organisations please click here
For all Charity Bank savings documentation including historical/current interest rates, terms for savers, and application forms, please visit our documents library.
- 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.
- 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 you can arrange an electronic transfer into your Nominated Account, or another eligible Charity Bank 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 – telephone 01732 441944 or email email@example.com.
Ready to start saving?
Explore our other accounts
Ethical 33-Day Notice Account
- Make your savings work for charities and social enterprises
- Up to 0.35% Gross/AER*
- Individuals who are permanently resident in the UK
Ethical 1-Year Fixed Rate Account
- Lock your money away and support the unsung heroes in our communities
- 0.47% Gross/AER*
- Individuals who are permanently resident in the UK and only liable to pay tax in the UK
CITRA 11th Issue (opened with its qualifying 5-year Community Account)
CITRA 11th Issue (Personal)
- 0.05% gross* / AER** & 5.00% tax relief***
Charity Bank 5-year Community Account (Personal)
- 0.20% gross* / AER**
Ethical 1-Year Business Fixed Rate Account
- Available to business savers
- 0.47% Gross / AER*
CITRA 11th Issue (Business/Credit Union) (opened with its qualifying 5-year Community Account)
CITRA 11th Issue (Business)
0.05% gross* / AER** & 5.00% tax relief***
Charity Bank 5-year Community Account (Business)
0.20% gross* / AER**
Ethical 1-Year Charity, Trust and Unincorporated Association Fixed Rate Account
- Available if you are a UK registered charity or trusts or unincorporated association (club or society)
- 0.47% Gross / AER*