60 Day Notice Account

Get more from your funds

The CAF 60 Day Notice Account is a deposit account provided by Shawbrook Bank and is only available to charitable organisations.

It's a great way to get more out of your funds with the benefit of just 60 days notice to withdraw your money.

This summary is designed to give information to help you compare the account with other savings products. It is not intended to replace any terms and conditions that apply to the account.


Summary box

Account name CAF 60 Day Notice Account - Issue 1
What is the interest rate?
Balance  Annual interest (variable) Monthly interest (variable)
£1,000+ Gross* rate/AER** Gross* AER**    
0.80% 0.80% 0.80%
Less than £1,000  0.05% Gross* rate/AER** (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* rate / AER** 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 Gross*.

     

Put your money to work:


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

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


Financial Services Compensation SchemeFSCS logo

Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please view the FSCS leaflet for further information or visit www.fscs.org.uk.


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

Each year Shawbrook Bank will pay CAF Financial Solutions a contribution to the equivalent value of 0.2% of the value of your deposit. All CAF Financial Solution'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.

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