New savings account for charities from CAF
Howard Lake | 12 May 2003 | News
Charities Aid Foundation (CAF) has launched a new account which combines monthly income with growth potential and capital protection.
The account is designed to offer charities the security of a bank deposit account, together with an attractive income and also the growth potential of the stock market.
The CAF Charity Guaranteed Reserve is the first account of its kind aimed exclusively at the non-profit sector. It has been designed by CAF in partnership with Bristol & West.
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The Reserve is divided into two components. Half of the capital is placed
in a high interest income account, receiving a fixed rate of 5% monthly (5.12% AER), while the remainder of the capital is deposited into a growth account linked to the performance of selected world stock markets.
The minimum deposit is £5,000 and the maximum is £10 million. There is a limited window available for investment. From 1 June to 31 July this year, charities will be able to make deposits into the Reserve.
Although the CAF Charity Guaranteed Reserve is designed for a fixed, six year period, access is available for charities wanting their money back before that time.
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.