Savings accounts for Clubs

michael0404

I'm a member of a small sailing club which has built up some savings over the years. Does anyone know a bank/building society or other organisation which will pay better than 0.1 - 0.2% on a savings account for a club/association.

martinman3

Most of the higher paying accounts require a minimum of £5000 to open and to run such as Harpenden BS Premier Business, 2.00% AER
http://www.harpendenbs.co.uk/business-notice.asp
but it is possible that the Scottish Widows Club and Association Deposit Account would be better as the minimum is only £500 1.25% AER instant access or 1.75% AER 7 day notice
http://www.scottishwidows.co.uk/bank/savings/club_association_intro.html

p.s. If you can keep your existing account open with a very small balance then I would suggest that you do it as any of these accounts are becoming harder to find as existing products are closed to new customers.