Summary

The CITRA 17th Issue and its qualifying 5-year Community Account is oversubscribed, and we are not currently accepting new applications. To join the waiting list and be informed about when this is next available, please submit your enquiry below.

The details below are for information only and subject to change.

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Join the waiting list – CITRA Savings Account

Community Investment Tax Relief Account (CITRA) 17th Issue (Personal)
Payment of interest:	Interest will be paid gross. If the total amount of interest you receive in any tax year exceeds any Personal Savings Allowance to which you’re entitled, you may have tax to pay at the applicable rate. This would need to be paid directly to HMRC. For more information, please visit gov.uk and search for ‘Personal Savings Allowance’.
Fixed Term:	Five years
Minimum initial deposit (Existing savers):	£3,750.00 - the deposit in the CITRA 17th Issue must not exceed the 1.00:1.00 basis.
Minimum initial deposit (New savers):	£7,500.00 - the deposit in the CITRA 17th Issue must not exceed the 1.00:1.00 basis.
Maximum deposit:	£500,000.00 can be placed in the CITRA 17th Issue.
Number of account holders:	One.
Paying money in:	You can fund the account by electronic transfer or cheque. Additional payments to the account cannot be made once it has been opened.
Withdrawals:	No withdrawals for the first three years. See the CITRA 17th Issue Key Features for information about amounts that can be drawn without penalty thereafter.
How we calculate interest:	Interest is calculated daily and added to your account quarterly in March, June, September and December and at maturity.
What would the estimated balance be after 60 months based on a £3,750 deposit?	Based on an interest rate of 0.05% gross, the estimated balance on a £3,750 deposit after 60 months would be £3,759.38. This illustrative example assumes no withdrawals, no changes to the managed interest rate over the period and interest is paid and compounded quarterly. (The illustrative example does not take into account the individual circumstances of a customer)
How does the Income Tax benefit work?	For example if a saver put £15,000 into a CITRA 17th Issue on 9th April 2022. The amount for each tax year for which relief may be claimed is £15,000 i.e. tax relief of £750 (5% of £15,000) may be claimed for the tax year 2022/23 (the tax year in which the saving was made) and for each of the four subsequent tax years. (UK tax legislation, which may be subject to change, may have an impact on your personal tax position.)
Managing your account:	Once opened all accounts are operated by post. We can answer any questions directly by email or over the phone.
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 and confirm the options available to you for your maturing funds at this time. These will include withdrawal of your funds to your Nominated Account, transferring them into an alternative Charity Bank account of your choice (subject to any specific account Terms), or new opportunity to invest into CITR, if available. If you do not let us know what you wish to do by the maturity date, your account will automatically revert to an Ethical 33-Day Notice account and the managed interest rate will be confirmed to you in writing. The account is subject to the following condition: A signed letter giving 33 days’ notice is required for withdrawals and closures.
Qualifying 5-year Community Account (Personal)
Payment of interest:	Interest will be paid gross. If the total amount of interest you receive in any tax year exceeds any Personal Savings Allowance to which you’re entitled, you may have tax to pay at the applicable rate. This would need to be paid directly to HMRC. For more information, please visit gov.uk and search for ‘Personal Savings Allowance’.
Fixed term:	Five years.
Minimum initial deposit (Existing savers):	The minimum amount that can be put into a Qualifying 5-Year Community Account is £3,750.00.
Minimum initial deposit (New savers):	The minimum amount that can be put into a Qualifying 5-Year Community Account is £7,500.00.
Maximum deposit:	£500,000.00 thus, qualifying for a deposit in the CITRA 17th Issue of £500,000.00 too.
Number of account holders:	One.
Paying money in:	You can fund the account by electronic transfer or cheque. Additional payments to the account cannot be made once it has been opened.
Withdrawals:	No withdrawals or closures before the maturity date.
How we calculate interest:	Interest is calculated daily and credited to your account on each anniversary and at maturity.
What would the estimated balance be after 60 months based on a £3,750 deposit?	Based on an interest rate of 5.75% gross, the estimated balance on a £3,750 deposit after 60 months would be £4,959.45. This illustrative example assumes no withdrawals, no changes to the managed 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)
Managing your account:	Once opened all accounts are operated by post. We can answer any questions directly by email or over the phone.
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 and confirm the options available to you for your maturing funds at this time. These will include withdrawal of your funds to your Nominated Account, transferring them into an alternative Charity Bank account of your choice (subject to any specific account Terms), or new opportunity to invest into CITR, if available. If you do not let us know what you wish to do by the maturity date, your account will automatically revert to an Ethical 33-Day Notice account and the managed interest rate will be confirmed to you in writing. The account is subject to the following condition: A signed letter giving 33 days’ notice is required for withdrawals and closures.

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Find out where your money goes

Community Investment Tax Relief Account (CITRA) 17th Issue (Personal)

Access: New savers open an account with £7,500, existing savers with £3,750. You can deposit up to £500,000. Deposits in your CITRA 17th Issue (Personal) may not exceed the 1.00:1.00 basis to deposits in your Qualifying 5-year Community Account (Personal).
Return: lock your savings away for five years and enjoy 0.05% gross*/AER** interest and 5% income tax relief for each year of the term.
Social impact: your money will be used to support charities and social enterprises across the UK.
Ready to start saving? Find out where your money goes

Qualifying 5-year Community Account (Personal)

Access: New savers open an account with £7,500, existing savers with £3,750.
Return: lock your savings away for five years and enjoy 5.75% gross*/AER**.
Social impact: your money will be used to support charities and social enterprises across the UK.
Ready to start saving? Find out where your money goes

Community Investment Tax Relief Account (CITRA) 17th Issue (Personal)

Opening an account: The CITRA 17th Issue (Personal) is available to Qualifying 5-year Community Account (Personal) holders.
Saving for impact: You can deposit up to £500,000. Deposits in your CITRA 17th Issue (Personal) may not exceed the 1.00:1.00 basis to deposits in your Qualifying 5-year Community Account (Personal).
To view the full Terms for personal savers please click here.

Qualifying 5-year Community Account (Personal)

Opening an account: The Qualifying 5-year Community Account (Personal) is open to individuals over the age of 16 who are permanent UK residents / taxpayers.
Saving for impact: You can deposit up to £500,000.
To view the full Terms for personal savers 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.

Community Investment Tax Relief Account (CITRA) 17th Issue (Personal)

Getting started. Once you've opened your account with us, we'll send you a welcome pack explaining how to manage your account, claim your tax relief 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. Withdrawals of up to 25% are permitted in Year 4 and up to 50% in Year 5 upon 90 days notice (see our CITRA 17th Issue - Key Features document for full details).
Staying in touch. Call or email us directly to check your account details and rates or if you have any questions.
t: 01732 441944 e: enquiries@charitybank.org

Qualifying 5-year Community Account (Personal)

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.
Withdrawals. No withdrawals before the maturity date.
Staying in touch. Call or email us directly to check your account details and rates or if you have any questions.
t: 01732 441944 e: enquiries@charitybank.org

Protecting your money

Ready to start saving?

Explore our other accounts

Ethical 33-Day Notice Account

Make your savings work for charities and social enterprises
2.97% / 3.00% - 3.12% / 3.16% Gross/AER*
Individuals who are permanently resident in the UK

Community Investment Tax Relief Account (CITRA) 17th Issue

Summary

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Ethical 33-Day Notice Account

Ethical 93-Day Notice Account

Ethical 1-Year Fixed Rate Account

Ethical 3-Year Fixed Rate Account

Ethical 33-Day Notice Cash ISA

CITRA 17th Issue (Personal)

Ethical Easy Access Account (Business Savings)

Ethical 40-Day Notice Business Account

Ethical 100-Day Notice Business Account

Ethical 1-Year Business Fixed Rate Account

Ethical 3-Year Business Fixed Rate Account

CITRA 17th Issue (Business/Credit Union)

Ethical Easy Access Account (Charity, Trust and Unincorporated Associations)

Ethical 40-Day Notice Charity, Trust and Unincorporated Association Account

Ethical 100-Day Notice Charity, Trust and Unincorporated Association Account

Ethical 1-Year Charity, Trust and Unincorporated Association Fixed Rate Account

Ethical 3-Year Charity, Trust and Unincorporated Association Fixed Rate Account

Ethical 1-Year Credit Union Fixed Rate Account

Ethical 3-Year Credit Union Fixed Rate Account

Ethical 100-Day Notice Credit Union Account

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