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This comparison simply includes all savings accounts.

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 6 Months
Interest AER 1.71%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 12 Months
Interest AER 2.01%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 24 Months
Interest AER 2.17%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 3 Years
Interest AER 2.32%

Why we like it: 3 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 4 Years
Interest AER 2.49%

Why we like it: 4 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 60 Months
Interest AER 2.69%

Why we like it: £1,000 minimum deposit, £250,000 maximum. Interest paid on maturity. No withdrawals permitted. FSCS Protected

Fixed rate bonds for charities

Charities, also known as non-profit organisations or NGOs, often rely on fundraising and donations to finance the good work they do.

If you are charity looking for the best way to make your money work harder for you, fixed rate bonds could be the answer.

Fixed rate bonds features

With a fixed rate bond you could earn competitive rates of interest on your capital, if you are happy to lock up your charity’s capital for the long term. Fixed rate bonds are available with most high street banks or building societies. The majority of banks offer fixed rate bonds that run for 1 year2 years3 years or 5 years.

If you are prepared to leave your capital untouched for a number of years, you could see your capital grow substantially. This is because typically the longer fixed rate bonds offer the highest interest.

There are fixed rate bonds on the market, specifically designed for charities, which offer some of the best interest available.

Withdrawal penalties

Although some fixed rate bonds come with a ‘cooling period’ where you can amend your deposit, often you are not able to make a withdrawal for the duration of the bond.

In the event that you do need to withdraw your capital, or close your fixed rate bond early, then you will likely incur a financial penalty from the bank. It is advisable to avoid this at any costs, as a penalty for closing a charity fixed rate bond early is often much larger than other fixed rate bonds and could reduce your capital significantly.

Tax on charity fixed rate bonds

Where the interest from business and personal fixed rate bonds are subject to tax, registered charities are exempt from tax deductions.  You can find out how to register as a charity on the government website.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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About us

Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.