Where to Find the Best Paying Charity Accounts

If you are looking at charity savings accounts, you may not be too excited by the interest rates that they currently offer.

As a result, the hard-won funds of your charity may only be earning an inadequate amount of money… but it does not have to be that way!

While well-known banks and building societies do not tend to give the best rates on the market, there are other providers that you can choose from. As a trustee, you will need to be prepared to shop around to discover the best charity savings rates.

If you take the time to look, there are a number of higher-paying accounts that are available to charities, with the majority being granted by providers that are smaller and lesser-known.

The best rates on charity deposit accounts will be given when your organisation:

  • Can commit to not having near-term or immediate access to its funds. Fixed rate and notice accounts offer higher rates than accounts allowing easy access.
  • Consider Business Deposit Accounts as an alternative
  • Has a sizeable amount of money to save. For example, charities with £50K to invest will presumably secure better interest rates than those with more modest amounts to invest.

See:  The Basics of Business Deposit Accounts