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Deposits in CAF account double to £250 million

first_img Tagged with: Finance Howard Lake | 18 August 2007 | News  31 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Deposits of charities’ funds in Charities Aid Foundation’s (CAF) Fixed Rate Selector Account have doubled in under a year, from £125 million last September to £250 million today.The Account offers charitable organisations the financial security of a bank deposit account with the guaranteed income of a fixed-interest investment. Developed in partnership with Birmingham Midshires, CAF says “the Account has enjoyed consistently high rates of interest since inception”. The current one-year deposit rate is 6.43% AER.Charitable organisations can deposit any amount between £10,000 and £10 million for an agreed term of three or six months, or one, two or three years. Interest is fixed and paid gross monthly, annually or on maturity, depending on the duration of the Account. Advertisementcenter_img Ron Green, Senior Manager of CAF’s Charity Financial Services Division, said: “The growth in Fixed Rate Selector Accounts has continued to accelerate as more charities across the sector realise the great rates on offer. We are committed in the coming months to making even more charities aware of the benefits they can gain from utilising this Account for their cash reserves.” Deposits in CAF account double to £250 million About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more