Savings

60 DAY NOTICE ACCOUNT

With this account, your money’s working for you by earning interest. You only need to give 60 days’ notice to access it.

Download an application form

THE CAF 60 DAY NOTICE ACCOUNT

We’re dedicated to helping charitable organisations make the most of their funds.

This deposit account is provided by Shawbrook Bank Limited, specialists in savings and lending in the UK, and is part of a range of deposit accounts available through CAF, exclusively for charitable organisations.

With this account, you can:

  • earn 0.80% AER1/Gross2
  • start saving with as little as £1,000
  • choose whether the interest is paid into your account or another nominated UK bank account
  • get help from a UK-based Customer Service team
  • know that any profits of CAF Financial Solutions Limited are reinvested into the charity sector

BENEFITS

Be a smart saver

Earn interest on your surplus balances while you plan how to use it.

Easy transfers in and out

Give 60 days’ notice to transfer your money to a nominated current account.

SUMMARY BOX

Account name
CAF 60 Day Notice Account - Issue 1
What is the interest rate?
Balance Annual interest (variable) Monthly interest (variable)  
   Gross1 rate/AER
 Gross1 AER2
£1,000+  0.80% 0.80% 0.80%
 Less than £1,000  0.05% Gross1 rate/AER2 (variable)    
  • You can select your interest to be paid monthly or annually on the account.
  • Interest is calculated on your daily balance.
  • Interest can be paid to this account or transferred to your nominated UK account which is identified on your application form.
Can Shawbrook Bank change the interest rate?
Yes. We can move the interest rate up or down at any time. The Business, Charity and Trust Savings Terms and Conditions explain how and when we will do this.
What would the estimated balance be after 12 months based of a £1,000 deposit?

An illustration of the future balance is shown below.

Initial deposit  Gross rate1/AER2 Balance at 12 months
 £1,000  0.80%  £1,008

This is an illustrative example assuming that:

  • You don't withdraw or deposit any additional money.
  • The interest rate stays the same and is paid annually.
Interest is calculated on a cleared deposit for a full 12 months and rounded to the nearest pound.
How do I open and manage the account?
  • You can only open an account if you are a UK registered or unregistered charity.
  • For registered charities at least 50% of trustees/directors must be permanent UK residents (excludes Channel Islands, Isle of Man and other Crown dependencies) and only liable to pay tax in the UK. For unregistered charities all trustees/directors must be permanent UK residents and only liable to pay tax in the UK.
  • We reserve the right to reject any non-UK signatories.
  • All trustees/directors/additional signatories must be 18 or over.
  • You must notify us immediately if any trustee/director circumstance changes and they are no longer a permanent UK resident and/or no longer only liable for UK tax.
  • You can open an account by printing our online application form and posting it to Savings and Investment Services, CAF Financial Solutions Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA.
  • The minimum initial deposit is £1,000.
  • The maximum account balance is £2,000,000. Maximum of two accounts per account holder.
  • You can manage the account by telephone or by post
Can I withdraw money?
  • Yes, you can make withdrawals from this account to your nominated UK account identified on your application form, subject to 60 days’ notice.
  • The minimum withdrawal amount is £1,000.
Additional information
  • You can close the account at any time with the required 60 days notice.
  • There is a 14 day cancellation period from the account opening date during which the account can be closed without any charge.
  • Interest is paid Gross1.

1Gross means that all interest will be paid without any deduction of tax. You are responsible for paying any tax due to HMRC

2AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Get started

DOWNLOAD THE APPLICATION PACK NOW

Start making the most of your charity’s funds.

Apply now

PROTECTING YOUR MONEY

Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

For more information on the scheme, view the FSCS leaflet or visit the FSCS website.

fscs

COMMON QUESTIONS

  • Are there any account limits on a CAF 60 Day Notice Account?
    • You can open an account with as little as £1,000.
    • The maximum individual account balance is £2million.
    • Account holders can open a maximum of two accounts.
  • Who is Shawbrook Bank?

    Shawbrook Bank is a specialist UK lending and savings bank founded in 2011 to serve the needs of small and medium businesses and individuals in the UK with a range of lending and savings products.

    Further information is available on Shawbrook Bank’s website.

    Shawbrook Bank Limited Registered office Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE. Registered in England – Company Number 388466. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

  • How do we withdraw money from a CAF 60 Day Notice Account?

    Withdrawals can be made by electronic transfer to your nominated UK bank account, subject to 60 days’ notice.

    You can make a withdrawal, in accordance with your Mandate, by writing to Shawbrook Bank Limited, Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE or by calling 0345 266 6611.

Can’t find the answer to your question?

Get in touch with our team, who will be happy to help you.

Get in touch now

OUR OTHER PRODUCTS AND SERVICES

We offer a full range of financial services specifically designed to help charity or not-for-profit organisations. Here are some that may be of interest to you.

12 Month Fixed Rate Saver

Provided by Shawbrook Bank Limited, get your money working hard while it's locked away.

Make the most of your funds

CAF 1 Year Fixed Term Deposit Account

Provided by Scottish Widows Bank, earn fixed interest for 1 year while your money’s safely locked away.

Make more of your savings

Investments

The CAF Investment Account is the only digital trading platform designed for charities of all sizes.

Manage your investments

Everyday banking

Manage your charity’s day-to-day banking in a way that suits you.

About CAF Cash

This product is promoted by CAF Financial Solutions Ltd (CFSL) and provided by Shawbrook Bank Limited.

CFSL is authorised and regulated by the Financial Conduct Authority. Registered office is 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4TA. Registered under number 2771873. CFSL is a subsidiary of Charities Aid Foundation (registered charity number 268369).

Shawbrook Bank Limited Registered office Lutea House, Warley Hill Business Park, The Drive, Great Warley, Brentwood, Essex CM13 3BE. Registered in England – Company Number 388466. Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Each year Shawbrook Bank Limited will pay CFSL a contribution to the equivalent value of 0.2% of the value of your deposit. All CFSL's profits (after tax) are transferred to CAF and used to benefit the third sector in accordance with its charitable objectives. This amount will not affect your own savings balance or the interest payment you receive.