Best Buy – Charity Savings Accounts (including Clubs)

Find the best account for your club or registered charity’s hard-won money. Compare the best charity savings accounts using our independent best buy table.

CompanyAERNotice / TermDeposit


Business Savings
1.75%
None£1


Charity Tracker
1.50%
90 Day£500


2nd Issue Branch Saver
1.36%
Instant£1000


95 Day Notice
1.26%
95 Day£1000


100 Day Notice Charity Savings Account Issue 6
1.25%
100 Day£5000


Charity 100 Day
1.25%
100 Day£5000


Business Instant Access
1.25%
Instant£10000


60 Day Notice Business Savings Account Issue 2
1.20%
60 Day£10000


Virgin Charity Deposit Account Issue 4
1.00%
Instant£1


Clubs and Charities 2
1.00%
Instant£1
Last Updated: Wednesday 16 April 2014 00:21

Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 

Club & Charity savings accounts explained…

  • Higher savings balances can earn better rates of interest
  • Fixed savings bonds and notice accounts can offer higher interest rates for money your charity doesn’t need short term access to
  • Check whether your club or charity would be covered by the Financial Services Compensation Scheme, and stick within limits

Club and charity savings accounts don’t tend to have interest rates that are as high as those available for your personal savings. So it’s even more important to shop around for the best home for your charity or club’s hard-won funds.

Probably the most important consideration is how much access your organisation will need to the money. Will it be needed at a set date? Or will you potentially need the money at short or no notice?

The longer your charity or club can afford to not have access to its money, the higher the rate of interest you may be able to earn.

Interest rates can also be improved with a higher savings balance. Often charity savings accounts offer higher rates, the more money you have invested in the account.

Depositor protection for charities

Charity and club savings accounts may fall under the protection of the Financial Services Compensation Scheme. Whether your charity or club is eligible will depend on how it is constituted (it’s not enough for a charity to be registered).

If your charity is constituted as an unincorporated association or limited company, it would be eligible for compensation if it meets two of the following:

  • It has 50 or fewer employees
  • It has a turnover of £6.5 million or less
  • It has a balance sheet total of £3.26 million or less

The Financial Services Compensation Scheme protects the first £85,000 an eligible charity or club has held under a single UK banking licence. Some banks and building societies share a licence, so it’s best to spread money between institutions to make sure it’s protected.

What next?

Business home
Compare business savings accounts
Compare business bonds

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