Summary

Available to individuals who are permanently resident in the UK.
4.51% Gross/AER*

Ethical 1-Year Fixed Rate Account (Gross/AER)* - Fixed Rate

Fixed Period	£5,000 - £500,000
1-year	4.51%

*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.

**If you are wishing to place deposits greater than £500,000, please contact our Savings Team on 01732 441944.

View our Historic Interest Rates for our Personal Savings accounts since January 2015.

Payment of interest (personal account)	Interest will be paid gross, which means interest is paid to you without tax being deducted from it. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HM Revenue and Customs. For more information please see the latest Government information, or visit the HMRC website or call them on 0300 200 3310.
Fixed term	1 year.
Minimum initial deposit	£5,000.
Maximum deposit	£500,000.
Withdrawals	No early withdrawals.
Paying money in	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 £5,000 within this period, it will be closed, and any funds returned to you. No further payments permitted once the funding period has ended.
Number of account holders	Up to two for personal accounts.
How we calculate interest	Interest is calculated daily and applied to your account annually on the anniversary of the account being opened. There is no bonus interest payable.
What would the estimated balance be after 12 months based on deposit of £5,000?	Based on an interest rate of 4.51% gross, the estimated balance on a £5,000 deposit after 12 months would be £5,225.50. 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)
Can Charity Bank change the interest rate?	The interest rate is fixed and cannot be altered in accordance with Section 8 Changes to interest rates of our Terms for personal savers.
Managing your account	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. 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 33-Day Notice account and the managed interest rate will be confirmed to you in writing. The Ethical 33-Day Notice 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

Access: open an account with just £5,000.
Social impact: your money will be used to support charities and social enterprises, whilst earning you a return.

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Find out where your money goes

The Ethical 1-Year Fixed Rate Account is available to individuals who are permanently resident in the UK.
You need to be aged 16 years or over and liable to pay tax in the UK.
You may apply online. You will need to print an Application Summary at the end of the online process to sign and return to us. Alternatively you can apply by post.
This is a fixed term account, so you'll only have access to your money when the account matures.
Your eligible deposits with Charity Bank are currently protected up to the limit of £85,000 under the Financial Services Compensation Scheme.
If you are wishing to place deposits greater than £500,000, please contact our Savings Team on 01732 441944.
View our full Terms for Personal Savers click here

For all Charity Bank savings documentation including historical/current interest rates, terms for savers, and application forms, please visit our documents library.

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Find out where your money goes

Once your account is open and funded, we shall write to you confirming your account details and how to operate it.
You’ll receive annual bank statements with a twist: see how your savings have grown and learn about some of the organisations your savings have supported.
You'll receive your money once your account has matured. We'll write to you before your account is due to mature to explain a few options, should you want to move your deposit into another account.
Call us directly to check your account details and rate or if you have any questions.
t: 01732 441944 e: savings@charitybank.org

Ready to start saving?

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Find out where your money goes

Protecting your money

Explore our other accounts

Not the right account for you? Or perhaps you'd like to open more than one account? Read about our other ethical savings accounts for personal savers.

Community Investment Tax Relief Base Rate Tracker (Personal) Account

Available to individuals who are tax resident in the UK.
Make a positive difference to disadvantaged communities across the UK.
Interest tracks 3.25% below Bank of England base rate and is currently 2.00% Gross / 2.02% AER on 100% of the amount saved.
Additionally, there’s 5.00% tax relief p.a. on 75% of the amount saved.

Ethical 1-Year Fixed Rate Account

Summary