We are trying to find the best tax free interest rate for our £5000 savings, currently with National Savings, who pay a miserable 1.5%. The Charities Aid Foundation Bank (CAF Bank) does better, paying about 1.8% for a one-year term. Building Societies offer ISAs at up to 3.5% tax free, but the account must be held in the name of a single individual and the money is then legally theirs, which is not appropriate for us.
Do any of our financially expert members know how clubs can achieve a better interest rate for their long-term savings?
Donald Reid, Chairman, Watford and Bushey BC, DReidD@aol.com
Editors Note: Clubs should always take advice from a regulated financial advisor.
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