The recession has hit everyone where it hurts most – in the pocket. Threats to the banking system had people running to find somewhere secure to bank their savings and interest rate cuts have left many people's savings sitting idly in the bank earning next to nothing.
A recent poll showed that almost half of savers have moved, or looking to move, their money to a savings account that will give a good return. The problem is where to find one.
Help might be at hand in the form of RedAid’s Lend-to-Charity scheme, which means you can do some good with your money, whilst earning a good return - up to 10% in fact.
RedAid is registered UK charity that exists to provide sustained financial support to charities in the developing world that bring relief to those suffering from extreme hunger, poverty, illness and hardship.
The idea is simple:
• Lend some money to RedAid
• RedAid use your money to bring relief wherever the need is greatest, quickly and effectively, often through microcredit schemes.
• RedAid will pay a 10% dividend on your investment, which is raised from separate fundraising initiatives or from the sustainable micro-businesses that they operate.
If making a big return is not so important for you, you can aso opt out of receiving your interest, in which case it will be reinvested back into one of their life-changing projects.