The reserve account divides charities' deposits, which must be a minimum of £5,000, between an income element, which can be accessed any time, and a growth element, which holds the funds for a five-year fixed term.
"This should appeal to charities that want the potential growth of the stock markets but don't like the risks involved," said Ron Green, senior manager at CAF financial services. "If the markets fall, the charities won't lose any capital.
"The account would be particularly good for charities with endowed funds that have to be conservative because they can't expose their capital to losses."
The closing date for application to the fund is 27 April.