The CAF 90 Day Notice Account

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

This deposit account is provided by Scottish Widows Bank and introduced by CAF Financial Solutions Ltd, and is part of a range of deposit accounts available through CAF, exclusively for charitable organisations.

With this account, you can:

  • start saving with £10,000
  • get access to your cash with 90 days’ notice 1
  • get help from a UK-based Customer Service team
  • know that any profits of CAF Financial Solutions Limited are reinvested into the charity sector

1You can ask to access your money sooner, but you’ll lose the equivalent of 90 days’ Gross interest on the amount withdrawn if Scottish Widows Bank agrees to early withdrawal or closure.

Benefits

Be a smart saver

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

Plan your access

Give 90 days’ notice and transfer your money to a nominated current account.

Summary box

Account name
CAF 90 Day Notice Account
What is the interest rate?
The interest rate is variable. The current annual rate is shown in the table below.

Balance Gross1 rate/AER2
 £500+  0.80%

  • You can select your interest to be paid monthly, quarterly or annually on the account.
  • Monthly interest payments are only available on balances of at least £50,000.
  • Interest is calculated on your daily balance.
  • Interest can be paid to this account or, providing the account balance is above £2,500, transferred to your nominated UK account which is identified on your application form.
Can Scottish Widows Bank change the rate?
Yes. We can move the interest rate up or down at any time. The terms and conditions explain how and when we will do this.
What would the estimated balance be after 12 months based on a £10,000 deposit?

An illustration of the future balance is shown below.

Initial deposit Gross1 Rate/AER2 Balance at 12 months
 £10,000  0.80%  £10,080

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.
How do I open and manage my account?
  • 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 product is only available to charitable organisations3.
  • The minimum initial deposit is £10,000.
  • The minimum account balance is £500.
  • Additional payments into the account must be at least £100.
  • The account cannot have a balance of more than £5,000,000.
  • You can manage the account by telephone or by post.
  • You may set up a direct debit from your nominated UK account to pay into the account each calendar month or send a cheque drawn on your UK current account identified on your application form.
Can I withdraw money?
  • Yes, you can make withdrawals from this account to your nominated UK account identified on your application form.
  • Individual withdrawals must be at least £100 and require 90 days notice to be given by post or by telephone.
  • If you ask us to withdraw from or close the account with less than 90 days notice and we agree, we will deduct the equivalent of 90 days Gross1 interest on the amount withdrawn.
Additional information
  • You can close this account at any time with the required 90 days notice.
  • There is a 14 day cancellation period from account opening date during which the account can be closed without any charge.
  • Interest is paid Gross1.
  • Please read this summary in conjunction with the CAF 90 Day Notice Account terms and conditions.
keys-90daynotice-cta

Get started

Download the application form now

Start making the most of your charity’s funds.

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Common questions

  • Are there any account limits on a CAF 90 Day Notice Account?
    • You can open an account with £10,000.
    • The maximum account balance is £5m.
    • Payments into the account must be at least £100.
  • Who is Scottish Widows Bank?

    Scottish Widows Bank is a trading name of Lloyds Bank plc, part of the Lloyds Banking Group. Founded in 1995, they serve the needs of businesses and individuals in the UK with a range of lending and savings products.

    Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.

  • How do we withdraw money from a CAF 90 Day Notice Account?

    Withdrawals can be made to your nominated UK bank account, subject to 90 days’ notice. If you ask us to withdraw from or close the account with less than 90 days notice and we agree, we will deduct the equivalent of 90 days Gross* interest on the amount withdrawn.

    You can make a withdrawal by writing to Scottish Widows Bank, PO Box 12757, 67 Morrison Street, Edinburgh, EH3 8YJ or by calling 0345 845 0829.

  • Does CAF Financial Solutions Ltd (CFSL) take a commission from Scottish Widows Bank?

    Each year Scottish Widows Bank will pay CAF Financial Solutions Ltd (CFSL) a contribution to the equivalent value of 0.1% 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.

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.

Earn interest with only 60 days' notice

60 Day Notice Account

Provided by Shawbrook Bank Limited, it's a great way to get more from your money with just 60 days' notice.

Smart saving for charities
Work your money while it's locked away

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
Earn interest on your charity's money

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
Manage your charity's banking

Everyday banking

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

About CAF Cash

PROTECTING YOUR MONEY

Your eligible deposits with Lloyds Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Lloyds Bank, Mayfair Private Banking, Lloyds Bank Private Banking, WorldWide Service and Scottish Widows Bank. Charities Aid Foundation savings accounts in association with Scottish Widows Bank are also deposits with Lloyds Bank plc. Any total deposits you hold above the limit between these brands are unlikely to be covered.

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

FSCS Protecting your money

This product is introduced by CAF Financial Solutions Ltd (CSFL) and provided by Scottish Widows Bank.

CAF Financial Solutions Limited (CFSL) is authorised and regulated by the Financial Conduct Authority under registration number 189450. Authorisation can be checked on the financial services register at www.fca.org.uk. CFSL 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).

Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.

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.

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

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

3Charitable organisations means organisations that are (a) registered with the Charity Commission for England and Wales, the Office of the Scottish Charity Regulator or the Charity Commission for Northern Ireland or (b) recognised by HMRC to have charitable status in the UK.