Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. No withdrawals permitted. FSCS Protected
Details
UK Charity
At maturity
Easy Access Tracker SME Saver
Interest AER4.15%
Min deposit£5000
TermInstant Access
Easy Access Tracker SME Saver Hampshire Trust Bank
Interest paid on account balances over £20,000. No interest paid if balance is below. Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Tracks Bank of England Base Rate (60 bps under). . Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. Unlimited withdrawals permitted. FSCS Protected
Details
UK Charity
Annually
2 Year Business Fixed Rate Bond
Interest AER4.11%
Min deposit£5000
Term2 Years
2 Year Business Fixed Rate BondHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. No withdrawals permitted. FSCS Protected
Details
UK Charity
Annually
3 Year Business Fixed Rate Bond
Interest AER4.07%
Min deposit£5000
Term3 Years
3 Year Business Fixed Rate BondHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. No withdrawals permitted. FSCS Protected
Details
UK Charity
Annually
95 Day Business Notice Account
Interest AER3.95%
Min deposit£5000
Term95 Day Notice
95 Day Business Notice AccountHampshire Trust Bank
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. Unlimited withdrawals permitted subject to 95 days notice. FSCS Protected
Winner of Platinum Feefo Trusted Service Award in 2024
Why we like it
Available for: Sole traders – trading in the UK, Limited companies/PLCs/LLPs – incorporated in the UK, Partnerships, Charities – registered in the UK, Clubs and associations, Small local authorities/PCCs/councils, Schools, Religious organisations, Small financial institutions, Credit unions, Trusts. Unlimited withdrawals permitted. FSCS Protected
Whether you have a social club, sports club or any other group activity that requires funding, you will usually rely on the fees from your members for financial support.
If you want to see your club’s membership fees work harder for you, you could deposit some of the club’s capital into a fixed rate bond.
Fixed rate bonds features
You could see some significant growth in your club’s capital if you are prepared to lock up your money in a fixed rate bond. This is because fixed rate bonds offer some of the best interest available, in comparison to rates offered with current or savings accounts.
You can get a fixed rate bond from most high street banks or building societies, as they typically offer fixed rate bonds that run for 1 year, 2 years, 3 years or 5 years. If you are happy with tying up your capital for a number of years you could receive some substantial interest, as often the higher rates of interest are reserved for the longer fixed rate bonds.
Restricted access
If you decide to take out a fixed rate bond, you need to be certain that you will not need to withdraw the capital for the duration of the term. Some providers do allow a “cooling period”, where you can amend your deposit, but after that you will not be able to touch your capital.
In the event that you do need to withdraw the capital from the fixed rate bond, or close the bond early, you will likely incur a penalty from the bank; this could be costly, as penalties are often calculated as a number of days’ interest and may reduce your capital significantly.