12 Month Fixed Term Deposit Cash ISA

Earn higher profits by making a lump-sum investment over a fixed period of time.

1.36%*Expected profit rate

Our 12 Month Fixed Term Cash ISA provides security by enabling you to to make a tax free, lump-sum investment over a fixed period of time.  A minimum deposit of £1,000 is required to open the 12 Month FTD ISA, profit will be paid to savers quarterly, or on maturity, and transfers-in are allowed for up to 30 days after the account has been opened.

If you would like a cash ISA with easier access to your funds, you might like to consider our Notice Cash ISA or Instant Access Cash ISA.

There is a limit to the amount that you can pay into a cash ISA in any one tax year, and you can only open one new cash ISA in any one tax year.

Our 12 Month Fixed Term Deposit Cash ISA is operated under the Islamic finance principle of Wakala, which is an agency agreement for investment, where we work as your agent to achieve an expected (or target) profit rate.

*Gross p.a. Where profit is reinvested and paid on maturity. Terms & conditions apply.

Features and benefits

Features and benefits

  • The expected profit rate is 1.36% (where profit is reinvested and paid on maturity)
  • For those who chose not to reinvest their profit the expected profit rate is 1.35%
  • Minimum opening balance of £1,000
  • Sharia compliant return on your savings
  • Earn an attractive expected rate of profit
  • Profits are not subject to UK tax
  • Married couples can combine their ISA allowance across two accounts
  • Pay money into your account online*, by telephone*, by post** or at a branch
  • Transfer existing ISA balances into your Al Rayan Bank Fixed Rate Deposit Cash ISA for up to 30 days from account opening

*You will need to register before you use our online banking and / or telephone banking services. To register or to find out more, please click here.

**Cheques only

How to apply

To apply for our Fixed Term Deposit Cash ISA you must be:

  • A personal customer over the age of 16
  • A resident of the UK
  • Able to make the minimum deposit required for the account

You can apply for our Fixed Term Deposit Cash ISA in any of the following ways:

Online

  • To apply online for a Fixed Term Deposit Cash ISA click here
  • If you are an existing customer, please apply through online banking

By phone

  • You can call our Customer Services team on 0800 408 3088, Monday to Friday between 9.00am and 7.00 pm, and on Saturdays between 9.00 am and 1.00pm.

By post or at one of our branches

  • You can download, print and complete an application form, and send it along with the required proof of identity and address to:

Al Rayan Bank PLC 
PO Box 12461 
Birmingham 
B16 6AQ

To view PDFs you need the Adobe Acrobat Reader. This program is available free of charge from the Adobe websiteAl Rayan Bank is not responsible for the content of external websites.

Forms and leaflets

Application forms

Terms and conditions

For your own benefit and protection, you should carefully read the following important leaflets before you complete the application:

Further information

The following information leaflets should also be read: 

To view PDFs you need the Adobe Acrobat Reader. This program is available free of charge from the Adobe websiteAl Rayan Bank is not responsible for the content of external websites.

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