Compare Club & Charity Savings Accounts – moneyfacts.co.uk

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


200 Day Notice Charity Deposit
1.30%
200 Day£5000


120 Day Notice (Issue 19)
1.25%
120 Day£1000


31 Day Notice Business Savings Account Issue 1
1.10%
31 Day£10000


120 Day Business Notice Account 5
1.05%
120 Day£5000


100 Day Notice Business Savings Account Issue 12
1.00%
100 Day£5000


Community Saver
0.80%
Instant£1


CAF 60 Day Notice
0.80%
60 Day£1000


Treasurer's Deposit
0.75%
None£25


Business 95 Day Saver
0.70%
95 Day£10000


Ethical 100 Day Notice Business Account
0.65%
100 Day£25000
Sponsored Products


Business Instant Saver
0.55%
None£10000
Last Updated: Friday 9 December 2016 00:07

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.

The UK Government has proposed to increase the deposit protection level from £75,000 to £85,000 of eligible deposits from 30 January 2017.

Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 
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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. This level of protection will reduce to £75,000 from 1 January 2016. Some banks and building societies share a licence, so it’s best to spread money between institutions to make sure it’s protected.

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