Savings For Good

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

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

Your eligible deposits with 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.

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 is open.

Micro Rainbow

London

“Micro Rainbow has helped me enormously. When I first came here, I thought, ‘Oh my god, this is an amazing place.’ The house is new and it’s very beautiful. I have a room, a double bed, a closet. It’s my safe place. When I’m there, I’m very comfortable; when I go out, all I want is to go home.”

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Mosaic 1898

Leicestershire, England

“Charity Bank created a calm in all the chaos. They set out the process clearly at the outset, kept us in the know at all times, and were on-hand when we needed their support. Without them this would have been a much steeper hill to climb.”

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Sutton Housing Society

Sutton, England

“It’s not about numbers on a spreadsheet; it's about genuinely changing people's lives. And that's why it's so great to work with Charity Bank, because they believe that too. We believe the Charity Bank is different to other banks - it doesn’t feel like they’re the lender and we’re the borrower; we’re a team.”

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Discuss a savings account

Talk to our UK based Savings Team about your needs.

[email protected]
01732 441944

Savings for good

Our ethical savings accounts give you the ability to help create lasting social change. Explore our full range of ethical savings accounts to find right account for you.

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Frequently Asked Questions

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