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Where to find the best paying Charity Accounts

Where to find the best paying Charity Accounts

Category: Business

Updated: 16/01/2017
First Published: 29/09/2016

If you're looking at charity savings accounts, you may not be too impressed by the interest rates on offer at the moment.

As a result, your charity's hard-won funds may only be earning a pittance… but it doesn't have to be that way!

While well-known banks and building societies don't tend to offer the very best rates on the market, there are other providers to choose from. As a trustee, you will need to be prepared to shop around to find the best charity savings rates.

If you take the time to look, there are a number of higher-paying accounts available to charities, with the majority being offered by smaller, lesser-known providers.

The best rates on charity deposit accounts will be paid when your organisation:

  • Can commit to not having immediate or near-term access to its funds. Notice and fixed rate accounts offer higher rates than accounts allowing easy access.
  • Has a sizeable sum to save. For instance, charities with £50K to invest will probably secure better interest rates than those with more modest amounts to invest.
  • Have a look at Business Deposit Accounts as an alternative

What next?

View our Charity Savings Accounts best buys (including Clubs)

Find more Business Deposit Accounts.

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

 
 
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