Competitive expected profit rates to make saving easier
If you’re not already saving and can afford to, then the best time to start is now. Whether it is to give you a financial safety net for a rainy day, to pay for something specific like a holiday or car, or a longer-term goal such as a house or retirement, the first step on your savings journey is to maximise the amount of return you can get on your money.
If you have a deposit of at least £5,000, then our Fixed Term Deposit or Everyday Saver savings accounts could be for you.
If you can put your money away for an agreed term without needing to access it, then our Fixed Term Deposit savings account currently offer highly competitive expected profit rates. In fact, the expected profit rate on our 12-month Fixed Term Deposit is the highest of all our savings accounts*.
If you would prefer more flexibility, then our Everyday Saver (Issue 3) account provides instant access to your money when you need it. The expected profit on this online-only account is credited to your account on the last working day of each calendar month.
Both types of savings account provide a personal, highly managed service for your savings and can be managed at your convenience through digital banking or by phone. Your funds are only ever invested in Sharia compliant and ethical investments, so no interest-bearing transactions and non-Sharia compliant business activities such as gambling, speculation, tobacco and alcohol.
We manage and monitor the performance of the investments every single day to minimise risk and ensure that you receive the expected profit rate. It’s a very effective approach and we’re proud to have always paid at least the expected profit rate, and when our investments have done better than expected, we have paid more.
You can find out more about our full range of savings accounts here.
* Correct 7 June 2023
