Savings For Good

Ethical 100-Day Notice Business Account

Support the unsung heroes in your community with our 100-day notice ethical savings account.

Your eligible deposits with Charity Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. View and download the Charity Bank Deposit Guarantee Scheme: Information Sheet here. For further information visit www.fscs.org.uk.

Key benefits

Access

Open an account with £1,000.

Flexibility

Add to your savings at any time.

Notice period of 100-days

The more you save, the higher your interest rate.

Social Impact

Your money will be used to support charities and social enterprises.

Summary Box

Payment of interest:

Interest is paid Gross i.e. without tax deducted.

For individual partnerships 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’.

Notice Period:

100 days.

Minimum initial deposit:

£1,000. (If your balance falls below £1,000 we’ll pay you 0.10% Gross/AER).

Maximum deposit:

£500,000.

Withdrawals:

Access your savings (after the 100-day notice period) by electronic transfer or post to your Nominated 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 £1,000 within this period, it will be closed and any funds returned to you. If not fully funded up to the maximum account balance of £500,000 in the 14-calendar day funding period additional credits are permitted and can be made by cheque, electronic transfer, direct debit or standing order from your nominated account up to this limit.

Number of account holders:

Unlimited

How we calculate interest:

Interest is calculated daily and added to your account quarterly in March, June, September and December and on closure of your account. There is no bonus interest payable.

What would the estimated balance be after 12 months based on deposits of £1,000 and £25,000?

Based on our lower tier attracting an interest rate of 3.14% gross, the balance on a £1,000 deposit after 12 months would be £1,031.77. Based on our upper tier attracting an interest rate of 3.29% gross, the balance on a £25,000 deposit after 12 months would be £25,832.70. The illustrative examples assume no withdrawals, no changes to the managed interest rate over the period and interest is paid and compounded quarterly. (The illustrative examples do not take into account the individual circumstances of a customer).

Can Charity Bank change the interest rate?

The interest rate is managed and may 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. Currently we do not offer online services once your account in open.

René House

Nottingham, England

“What you get with Charity Bank is understanding. They understand our structure, our model and how we work financially.”

Read Story

Target Housing

Sheffield, England

“I'm very glad we went with Charity Bank. It’s been a brilliant partnership over the years. It’s always felt like we were talking to a real person; it never feels corporate. They take the time to understand what we do and who we are. It feels like we’re all working together.”

Read Story

Totnes Renewable Energy Society

Totnes, England

“We are a social enterprise and working with a social lender has been important to us. Mainstream banks are looking for existing models with proven outcomes and structures. Charity Bank is different and understands how we operate and the importance of the enduring impact we are trying to make."

Read Story

Discuss a savings account

Talk to our UK based Savings Team about your needs.

[email protected]
01732 441944

Man with his arm around woman in furniture warehouse at New Starts

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