UK charities 'unsatisfied with savings rates'
Charities
17th August 2010
A recent poll has discovered that 100 per cent of charities in the UK are not happy with the savings rate they are receiving.
With interest rates at a record low of 0.5 per cent, third sector organisations seeking a UK insurance policy are advised that many in the field are unsatisfied with the returns they are getting on their investments.
This is according to a study by the Fair Investment Company, which indicated the average instant access rate currently received by charities is 0.29 per cent and 1.85 per cent on a three-year fixed service.
Of the 82 organisations surveyed, all replied that they were unhappy with their savings accounts returns, with this figure climbing from 97 per cent last month to 100 per cent.
However, the firm's director, David Doulton, pointed out that better returns are available, adding: "Savings account rates are low for everyone at the moment, but it would seem that charities are getting a really bad deal."
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