Charity Bank has opened a new cash ISA where savers' funds will only be invested in charities, social enterprises and community organisations.

The Charity Bank Cash ISA requires a minimum deposit of £250 and offers an interest rate of 2 per cent gross per annum.

Geoff Burnard, chief investment office of Charity Bank said: “People who invest in a Charity Bank Cash ISA can be assured that they will not only be receiving competitive rates, but that their money is making a measurable social impact.”