CAF launches new charity savings accounts with Scottish Widows
Howard Lake | 1 March 2011 | News
The Charities Aid Foundation (CAF) has launched two new savings products for charities in association with Scottish Widows Bank.
CAF Financial Solutions Ltd, a subsidiary of CAF, is offering the CAF 90 Day Notice Account (with a variable rate of up to 1.95% AER) and the CAF One Year Fixed Term Deposit Account (1.25% AER).
Both accounts are available to charities who deposit between £10,000 and £5 million. Those depositing more than £50,000 in the 90 day notice account will receive the top tiered reate of 1.95%. Below that the rate is 1.7%.
The new products are introduced shortly before BM Savings, the current deposit taker for the CAF Fixed Rate Selector Account, stops accepting new savings accounts from CAF customers. They will, however, continue to service existing customers until their accounts reach maturity.
www.cafonline.org/charity
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.