# Deposits in CAF account double to £250 million

- Link: https://fundraising.co.uk/2007/08/18/deposits-caf-account-double-250-million/
- Published: 2007-08-18T23:00:00+01:00
- Author: Howard Lake

Deposits of charities’ funds in Charities Aid Foundation’s (CAF) Fixed Rate Selector
Account have doubled in under a year, from £125 million last September to £250 million
today.
The Account offers charitable organisations the financial security of a bank
deposit account with the guaranteed income of a fixed-interest investment. Developed
in partnership with Birmingham Midshires, CAF says “the Account has enjoyed consistently
high rates of interest since inception”. The current one-year deposit rate is 6.43%
AER.

Charitable organisations can deposit any amount between £10,000 and £10 million 
for an agreed term of three or six months, or one, two or three years. Interest 
is fixed and paid gross monthly, annually or on maturity, depending on the duration
of the Account.

Ron Green, Senior Manager of CAF’s Charity Financial Services Division, said: “The
growth in Fixed Rate Selector Accounts has continued to accelerate as more charities
across the sector realise the great rates on offer. We are committed in the coming
months to making even more charities aware of the benefits they can gain from utilising
this Account for their cash reserves.”

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