Many UK charities 'dissatisfied with current saving rates'
Date posted: 18 Aug 2010
All of the charitable organisations polled in a Fair Investment Company survey said they were dissatisfied with their present saving rates.
Published by Alison Gamble.
A large number of charities are not impressed with the rates that are currently being applied to their savings, according to the findings of new research.
Not a single one of the 82 charities that were queried in a Fair Investment Company poll claimed they were satisfied with their present saving rate.
Charities appear to be enduring poor saving rates at the moment, the firm's director David Doulton feels.
He said: "It would seem that charities are getting a really bad deal.
"While the average personal account is paying 0.74 per cent, the average charity savings account is even worse."
Mr Doulton continued by saying that some charities may be struggling to gain interest rates that exceed the Bank of England's present 0.5 per cent base rate.
Earlier this month, his company also published research which found that riskier assets may be an option for 69 per cent of individual savers as a result of poor interest rates.
Please contact Janet Turner, head of not for profit services for further information or call 01223 225027
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