Ethical account for charities, trusts and unincorporated associations.
Gross/AER**
*If you are wishing to place deposits greater than £500,000, please contact our Savings Team on 01732 441944.
**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.
Your eligible deposits with The Charity Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. View and download the Charity Bank Deposit Guarantee Scheme: Information Sheet here. For further information visit www.fscs.org.uk.
Interest is paid Gross i.e. without tax deducted.
1 year.
£10,000.
£500,000.
No withdrawals, transfers out or closures are permitted before the maturity date.
Initial deposit(s) can be made by cheque or electronic transfer from your nominated account only. From the day we confirm your account is open you have 14-calendar days to fund it with one or multiple deposits up to a maximum account balance of £500,000 or in excess of this limit if pre-approved by us. If your account is not funded to the minimum account balance of £10,000 within this period, it will be closed, and any funds returned to you. No further payments permitted once the funding period has ended.
Unlimited.
Interest is calculated daily and added to your account on each anniversary of the investment and at maturity. There is no bonus interest payable.
Based on an interest rate of 4.26% gross, the balance on a £10,000 deposit after 12 months would be £10,426.00. 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).
The interest rate is fixed and cannot be altered in accordance with Section 9 Changes to interest rates of our Terms for organisations.
All accounts are operated by post. We can answer any questions directly by email or over the phone. Currently we do not offer online services once your account is open.
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.
Talk to our UK based Savings Team about your needs.
Our ethical savings accounts give you the ability to help create lasting social change. Explore our full range of ethical savings accounts to find right account for you.
View Charities, Clubs & Trusts Savings AccountsAre my savings protected by the Financial Services Compensation Scheme?
How do I operate my account?
How does Charity Bank support vulnerable customers wishing to apply for an account?
How can I make my initial deposit into a new savings account?
For the latest Charity Bank savings accounts documents, please click on the button below.
Savings Document LibraryPlease click the links below to download an application pack:
Charity Bank Terms for Organisations
Ethical Fixed Rate Account for Charities, Trusts and Unincorporated Associations – Application Form