Summary

Available to business savers
4.51% Gross / AER*

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

Fixed Period	£10,000 - £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 a charity, business or private individual looking to place deposits greater than £500,000, please contact our savings team on 01732 441944.

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

Payment of interest:	Interest is paid Gross i.e. without tax deducted.
Fixed term:	1 year
Minimum initial deposit:	£10,000
Maximum deposit:	£500,000
Withdrawals:	When your account matures you can arrange an electronic transfer into your Nominated Account, or another Charity Bank account.
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 £10,000 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:	Unlimited
How we calculate interest:	Interest is calculated daily and added to your account on each anniversary of the investment and at maturity. There is no bonus interest payable.
What would the estimated balance be after 12 months based on a deposit of £10,000?	Based on an interest rate of 4.51% gross, the balance on a £10,000 deposit after 12 months would be £10,451.00. 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 9 Changes to interest rates of our Terms for organisations.
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 40-Day Notice account and the managed interest rate will be confirmed to you in writing. The Ethical 40-Day Notice account is subject to the following condition: A signed letter giving 40 days’ notice is required for withdrawals and closures.

Ready to start saving? Apply by Post apply online

Find out where your money goes

Access: open an account by funding from a minimum of £10,000 up to maximum balance of £500,000. If you are looking to place deposits greater than £500,000, please contact our Savings team on 01732 441944.
Return: lock your savings away for a year and enjoy a fixed rate of interest (see the rates table above).
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

Things you need to know

Opening an account: The Ethical 1-Year Business Fixed Rate Account is available to limited companies and partnerships looking to save and do good. Companies and shareholding companies must be UK registered. All directors, additional signatories, members, partners and shareholders must be permanent UK residents.
Access: When your account matures you can arrange an electronic transfer into your Nominated Account, or another Charity Bank account.
Saving for impact: You can deposit up to £500,000.

To view the full Terms for organisations 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.

Getting started. Once your account is open and funded, we shall write to you confirming your account details and how to operate it.
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. When your account matures you can arrange an electronic transfer into your Nominated Account, or another Charity Bank account.
Staying in touch. You can call us directly to check your account details and rates.
Questions? Talk to us if you have any questions – telephone 01732 441944 or email savings@charitybank.org.

Protecting your money

Ready to start saving?

Explore our other accounts

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 Business Fixed Rate Account

Summary