Business 60 Day Notice Account
Put money aside for a rainy day and earn a higher level of profit.
Get into a savings habit and put money aside for when your business really needs it. Give 60 days notice to make a withdrawal and the funds will be available through the post, branch, telephone or online.
If your business has any spare money that it can afford to put away and get an attractive target profit rate, the 60 Day Notice Account is a perfect way to save now for reward later.
Our 60 Day Notice Account has been designed to provide easy online access as well as a higher rate of profit than our On Demand Savings Account.
*Gross p.a. Terms & conditions apply.
Features & benefits
- Expected profit rate of 0.90% (gross p.a.)
- Minimum opening balance of £250
- You can also set up a regular standing order and have the flexibility to make incremental deposits regardless of how big or small, whilst getting regular target returns on your savings
- Give 60 days' notice if you wish to make a withdrawal, and your funds will be available online, through the post or via one of our branches
- Sharia compliant return on your savings
- Deposits may be made via a direct account transfer or a cheque from an account in your name
- At maturity, you can transfer out the funds to an account in your name
Managing your account
Making a deposit
You can make a deposit into your 60 Day Notice Account by:
- Making an online transfer from another account or by money transfer
- Sending a cheque by post to our Operational Headquarters at the following address
Al Rayan Bank PLC,
PO Box 12461,
- Depositing cash or cheques in one of our branches
- Setting up a standing order from another account to make regular payments into your 60 Day Notice Account
Making a withdrawal
You may make withdrawals from your 60 Day Notice Account in the following ways:
- Making an online transfer request
- Writing to us at our Operational Headquarters address requesting a withdrawal
- Calling our Customer Services team to submit a request
- Submitting a withdrawal request form in one of our branches
Forms & other information
You will need to give us notice of your intention to make a withdrawal from your account.
Terms and conditions
For your own benefit and protection, you should carefully read the following important leaflets before you complete the application:
The following information leaflets should also be read:
- Notice accounts
- Proof of identity
- Tariff list for business banking
- Financial Services Compensation Scheme (FSCS)
To view PDFs you need the Adobe Acrobat Reader. This program is available free of charge from the Adobe website. Al Rayan Bank is not responsible for the content of external websites.
|Account name||60 Day Notice Account|
|What is the expected profit rate?||
0.90% (gross per annum)
Your profit is calculated and paid into your account on a monthly basis.
|Can Al Rayan Bank change the expected profit rate?||
The expected profit rate that applies to your Notice Account is variable. This means that the expected profit rate can change at any time.
|What would be the estimated balance after 12 months||If on account opening you deposited £1,000 into your 60 Day Notice Account and made no further deposits or withdrawals, the estimated balance on the first anniversary of your account opening would be £1,009.04
This is for illustrative purposes only and does not take into account your organisation's circumstances. This illustration assumes that your account was opened on the first day of the month and there is no change to the expected profit rate throughout the period of this illustration.
|How do I open and manage my account online?||
The minimum deposit required for this account is £250. You can only fund your account via a direct account transfer or a cheque from an account in your name. Al Rayan Bank doesn't accept third party transfers.
You can make a deposit in any of the following ways:
Our secure online banking portal enables you to:
To register, please download an application form at alrayanbank.co.uk or call us on the number below.
|Can I withdraw money?||
Your Notice Account requires you to provide Al Rayan Bank with 60 days’ notice before you can withdraw some, or all of your funds. You cannot access your funds until the notice period has elapsed.
You can apply your notice to withdraw your funds in any of the following ways:
If you need to contact us for any reason you can:
Write to us at Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ
|Additional information||As an Islamic Bank, we do not offer you interest on your funds, instead, we undertake Sharia compliant activities with the intention of generating profit.|