Best Compare Charity Savings Accounts
20 Best Savings Accounts for Charities in 2025
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How it worksIf your charity or community-interest organisation wants to earn more from its cash reserves then you could benefit from a charity savings account which offers a higher interest rate than your current account. Choose to save with instant access, notice or fixed rate accounts.
Find the best charity savings account from a range of leading banks & rates for your charity, club, society or community group.
Hampshire Trust Bank Charity Savings Accounts
- Two variable rate & three fixed rate accounts are available to UK charities
- Interest is paid annually & you can earn from 3.95% variable to 4.55% fixed AER
- Easy access, 95 day notice & up to three year terms are offered
- All accounts can be opened with £5,000 & have a maximum balance of £750,000
- Except the notice account which has limits of £1,000 min deposit & £250,000 max
- After your initial deposit you won't be able to make further contributions to any fixed bonds
- Applications are completed online with online-only access to your accounts
- Won multiple awards for their business & charity savings accounts
- All eligible deposits are covered by the FSCS up to the value of £85,000
WebsiteRead our in-depth Hampshire Trust Bank reviewRedwood Bank Savings Accounts
- Choice of a fixed bond & two notice accounts for charities, clubs, associations, societies & businesses
- Earning interest rates varying from 4.10% to 4.60%% AER
- Saving terms start at 35 days up to one year
- All accounts need an initial deposit & a minimum balance of £10,000 to give interest
- They all hold £1 million & you can save a maximum of £2 million across all accounts
- You can make further deposits on the notice accounts, at any time
- No more investments can be made on the fixed rate savings, after a 14-day funding period
- Have up to four users & manage the accounts online, by phone or in writing
- Eligible deposits are protected by the FSCS, up to a total of £85,000
WebsiteRead our in-depth Redwood Bank reviewUnited Trust Bank Charity Savings Accounts
- High interest savings accounts for registered & incorporated charities
- With the option of seven fixed term business bonds & four notice accounts (including one tracker)
- Interest rates start from 4.05% up to 4.76% AER
- Save from 40 to 200 days or three months to three years
- Charity notice account holders may make one penalty-free withdrawal without notice, per 12 month period of up to 20% of the balance
- All accounts require a £5,000 minimum deposit
- And the maximum you can hold is £1 million, per account
- Deposit solutions available for charities looking to save more than £1 million
- Manage your deposits with online banking, by phone, email or by post
WebsiteRead our in-depth United Trust Bank reviewCAF Bank Charity Savings Accounts
- You will need a CAF Cash Account (charity current account) to apply
- Which was made for charities, both registered & unregistered, by a charity
- Offer an instant access, two notice, one fixed rate account & a charity deposit platform
- Earn variable interest rates from 2.17% to 4.30% AER
- Charity deposit platform provided by Flagstone, offering a range of interest rates
- Instant access account has no minimum deposit or opening balance
- While the fixed rate account requires both to be £1,000
- The current account comes with a £ 5 monthly fee
- Savings are covered by the FSCS, protecting deposits up to £85,000
WebsiteRead our in-depth CAF Bank reviewCambridge & Counties Bank Savings Accounts for Charities
- Accounts available for charities, businesses & credit unions
- Offer a mix of fixed rate bonds & notice accounts
- Earning from 3.55% variable to 4.65% AER fixed
- All accounts have an opening deposit requirement of £10K
- The maximum account balance is £3M for the notice accounts & £5M for bonds
- Balances that fall below £10K will earn a reduced rate of 0.10%
- No withdrawals are permitted during the fixed terms
- Awarded Best Business Fixed Rate Savings Provider 2023 in the Business Moneyfacts Awards
- Benefits from FSCS protection on deposits up to £85,000, if eligible
WebsiteVirgin Money Charity Savings Accounts
- Choice of a charity instant access account, four charity notice accounts & five charity fixed deposits
- Earning interest from 1.25% up to 4.33% AER
- Will need a Virgin Clubs & Societies or Charities Choice Account
- Except for the fixed term accounts, which are standalone & can be opened from £5,000
- Variable rate accounts can be opened from £1
- Save up to £5 million with the instant access account or £25 million with fixed bonds
- There are no minimum or maximum balance limits on the notice accounts
- Charity current account offers free day-to-day banking for charities with turnover up to £1 million
- Deposits are covered by the FSCS up to £85,000
WebsiteRead our in-depth Virgin Money reviewThe Co-operative Bank Business Savings Accounts
- Suitable for registered charities & other community-interest organisations
- As long as they have a Co-op Community Directplus current account
- Choice of two notice accounts & an instant access savings account
- Earning variable interest from 1.44% up to 2.32% AER
- Calculated daily & paid out twice yearly
- All of the accounts come with no minimum or maximum balance restrictions
- Manage your savings 24/7 with online & mobile banking
- The Community Directplus account requires annual turnover to be less than £1 million, the account has no monthly fees
- Eligible deposits up to £85,000 are protected by the FSCS
WebsiteRead our in-depth The Co-operative Bank reviewCharity Bank Charity Savings Accounts
- Ethical easy access, notice & fixed rate savings available
- To charities, trusts & unincorporated associations, such as clubs or societies
- Earning rates from 3.07% up to 4.26% AER, where higher rates are available on larger balances
- The minimum you can save with the easy access & fixed accounts is £10,000
- While the notice accounts retain a minimum balance of £1,000, offering 0.10% AER return if you go below
- All accounts have a maximum balance limit of £500,000, with unlimited users
- Accounts are opened & managed by post, or email for the easy access
- Loans are available if used for social purposes
- Your deposits are covered by the FSCS, up to £85,000
WebsiteDudley Building Society Club & Community Savings
- Choice of one or two-year fixed term, notice accounts & instant access savings
- Available to unincorporated bodies, such as clubs, communities or charities
- Fixed term interest rates are 4.00% for one year & 4.10% AER for two years
- With minimum deposits from £1,000 & maximum balances of up to £1 million
- Notice accounts earn from 3.65% up to 3.75% AER up to £1 million
- The instant access account offers a variable rate of 3.60% AER
- Applications can be made by in person or by post or by phone
- Accounts can be managed by email, phone, post or in-branch
- Eligible deposits up to £85K are protected by the FSCS
WebsiteSaffron Building Society Business Savings Accounts
- Available to businesses of all types & sizes, including not-for-profits
- Choose from their fixed rate or instant access accounts
- Rates start from 1.75% up to 3.95% AER, calculated daily & paid monthly or annually
- Interest from finished terms are put into a maturity account that earns 0.75%
- Minimum deposits start from £1, while the maximum balance is £2 million across all accounts
- Can be managed by post, in-branch or 24/7 online
- Friendly customer contact team available Monday to Saturday
- Deposits are protected by the FSCS for a total of £85,000
WebsiteUnity Trust Bank Business Savings Accounts
- Available to charities, co-ops, credit unions, councils, businesses, & more
- Need to hold a Unity Trust Business Current Account or easy access account
- Interest rates vary from 2.52% to 4.25% AER
- The 30 day deposit account needs a minimum deposit of £2 million
- Save from £500,000 with the 90 day deposit account
- All deposit accounts have no monthly fees or charges
- 24/7 online account management
- Current account monthly fees start from £6 & require a £500 opening deposit
- Savings are covered by the FSCS for a maximum of £85,000
WebsiteRead our in-depth Unity Trust Bank reviewMetro Bank Community Deposit Accounts
- Offer a fixed year bond & instant access account to community groups & charities
- Interest rates range from 0.85% variable to 1.75% AER fixed for one year
- Earned monthly, annually or at the end of maturity
- Start saving from £1 or £5,000, with no upper balance limits
- Open online, by phone or in-store with no appointment
- 24/7 online & mobile banking
- Community & charity bank account available but not needed to open a deposit account
- Top rated bank for branch services & customer support
- Regulated bank covered by the FSCS, protecting deposits up to £85,000
WebsiteRead our in-depth Metro Bank reviewReliance Bank Charity Savings Accounts
- Choose from an instant access, notice accounts & two fixed term deposits
- Interest is earned from 2.00% variable up to 4.45% AER fixed
- This is calculated daily & compounded quarterly
- No minimum balance requirement on instant access account, fixed from £1K & notice from £5K
- There is a maximum £10M savings limit in (£2M on fixed rate)
- A 14 day cooling off period applies should you change your mind after opening
- Manage & access your savings with online, mobile or telephone banking
- Reliance are the bank of choice for The Salvation Army
- Eligible deposits up to £85K are covered by the FSCS
WebsiteRead our in-depth Reliance Bank reviewSantander Treasurer's Savings Account
- Available to club, society, charity or other not-for-profit organisations that turnover up to £250K
- Easy access account that earns a variable 1.05% AER
- Interest is paid each month into the account on the opening anniversary
- The minimum operating & opening deposit is £1, while there is no maximum balance
- Access with cash card, mobile app, online or telephone banking
- Offer a Treasurer's Current Account for charities & non profits
- Which requires yearly turnover to be less than £250K too, has no monthly fee
- Eligible deposits up to £85K are covered by the FSCS
WebsiteRead our in-depth Santander reviewBarclays Business Savings Accounts
- Instant access & fixed term accounts available with Barclays Charity & Impact Account
- Offering free everyday banking & multiple access for three users
- Available for charities with annual turnover up to £100K
- The instant access earns interest from 1.41% up to 1.86% AER
- Interest rates for the fixed rate accounts are available on request
- With terms ranging from overnight up to one year
- None of the accounts have a minimum balance & hold up to £50 million
- Interest is calculated daily & paid in quarterly or end of fixed term
- Fully regulated bank covered by the FSCS, protecting eligible deposits, up to £85K
WebsiteRead our in-depth Barclays reviewNatWest Business Savings Accounts
- Fixed term, notice & instant access savings available with NatWest Community Bank Account
- Which has no monthly fees & requires a maximum turnover of £100,000
- Earn variable interest from 1.46% to 4.25% AER, with agreed rates on fixed term accounts
- Paid in on the last day of each month or on maturity
- There are no minimum or maximum balances for the instant or notice accounts
- You will need a minimum deposit of £100,000 for the fixed term accounts
- Access your savings with their award-winning mobile banking app
- Community bank account requires at least one key person to be an existing NatWest customer
- UK regulated bank covered by the FSCS, which protects deposits up to £85,000
WebsiteRead our in-depth NatWest reviewLloyds Bank Business Savings Accounts
- Fixed term deposit, notice & instant access savings available with Lloyds Charity Account
- Available if you pay in less than £50K every 12 months, has no monthly fee
- Interest rates begin at 1.31% up to 3.60% AER
- With daily interest calculations which are paid monthly or end of term
- Open with as little as £1 & deposit up to £5 million
- Minimum opening deposits start at £1 & the most you can save is up to £5M
- Make unlimited withdrawals on instant access & notice accounts
- See, access & manage you deposits 24/7 with online & mobile banking
- Eligible deposits are covered, up to £85K, with FSCS protection
WebsiteRead our in-depth Lloyds Bank reviewRoyal Bank of Scotland Business Savings Accounts
- Fixed term, notice & instant access savings available with RBS Community Bank Account
- Which has no monthly fees & requires a maximum turnover of £100K
- Interest rates start from 1.46% to 4.25% AER, fixed term rates are agreed on application
- Paid in on the last day of each month or on maturity
- No minimum or maximum balances for the instant or notice accounts
- While the fixed rate account has a minimum deposit of £100K
- Access your savings 24/7 with online & mobile banking
- Community bank account requires at least one key person to be an existing RBS customer
- Eligible deposits are covered by the FSCS, up to £85K
WebsiteRead our in-depth Royal Bank of Scotland reviewBank of Scotland Business Savings Accounts
- Fixed term deposit, notice & instant access savings available with BOS Charity Account
- Available for charities with turnover less than £50,000, comes with no monthly fee
- Interest rates begin at 1.31% up to 3.60% AER
- With daily interest which is paid monthly or end of term
- Open with as little as £1 & deposit up to £5 million
- Minimum opening deposits start at £1 & the most you can save is up to £5 million
- Unlimited withdrawals are permitted on instant access & notice accounts
- Manage the account 24/7 online with mobile & internet banking
- Protect your savings with cover on eligible deposits up to £85,000
WebsiteRead our in-depth Bank of Scotland reviewHSBC Business Savings Accounts
- Choose from fixed, notice & call accounts with an HSBC Charitable Bank Account
- This requires a maximum turnover of £2 million & has a monthly fee of £5
- Rates start from 1.69% AER, with monthly or quarterly interest
- Varying depending on how often you access or hold in the account
- Open in-branch, online, by post or by phone
- Access your savings with their award-winning mobile banking app
- HSBC have an experience UK support team to help with any banking needs
- Covered by the FSCS, covering eligible deposits up to £85,000
WebsiteRead our in-depth HSBC reviewWhat is the best charity savings account?
Here's what we think are the best charity savings accounts and what for:
- Best charity savings accounts overall: Hampshire Trust Bank Charity Savings Accounts · Rates up to 4.36% AER
- Best charity easy access: Virgin Money Charity Savings Accounts · Rates up to 4.33% AER
- Best charity notice accounts: Redwood Business Savings Accounts · Rates up to 4.60% AER
- Best charity fixed bond: Cambridge & Counties Savings Accounts for Charities · Rates up to 4.65% AER
- Best for highest interest: United Trust Bank Business Savings Accounts · Rates up to 4.76% AER
What is a charity savings account?
Charity savings accounts are a type of business savings account offered to charities to set aside excess cash, that is not being used for everyday banking, and earn interest on it.
There are different types of accounts (see more below) that allow different access styles with varying rates if interest. You can combine these to maximise your charity's savings and ensure you mange your money with ease.
Who is eligible for a charity savings account?
Typically, to be eligible to open a charity savings account you must be one of the following:
- Charity registered with the Charity Commission
- Society, clubs or community-interest groups
- Community amateur sports club (CASC)
- Co-operative
- Places of worship
The documents needed may vary but most banks will require the following when applying:
- The charity's registration number & proof of status
- The charity's trust deeds
- The charity's financial details, such as turnover
- Details of all trustees or signatories, including name, address & involvement
Different types of charity savings accounts
There are three different types of savings accounts your charity can choose from:
- Charity easy access accounts: offer instant, or close to, access to your money. Interest rates are variable and tend to be lower than other types of accounts
- Charity notice accounts: offer more restricted access to your money, requiring you to give notice for a given number of days to withdraw. Rates are variable and can be high or low
- Charity fixed term accounts: offer the most restricted access to your money, fixing it away for longer terms than notice accounts. Interest is fixed from when you open to when the term ends
Frequently asked questions
It's not uncommon to have questions when looking in to business banking, especially for the first time. These are some of the most relevant questions for business savings accounts:
No, not-for-profits, including charities do not need to pay any taxes on interest earned from savings.
AER is an acronym for Annual Equivalent Rate which is a percentage to show how much interest is earned over a year.
Variable interest is interest that can change or be modified at any point by the provider. If changes do occur, those affected are usually notified two weeks or a month in advance.
Fixed rate interest is interest that is fixed to a value for its given term. Meaning if you see a fixed rate for a one year account, the interest will remain the same during the year.