Account name

120 Day Notice Account

What is the expected profit rate?

2.40% (gross per annum)

Your profit is calculated daily and will be paid to your account on the last working day of each month.

To see the expected profit rate that applies to this account at any time and to view our complete range of savings accounts with applicable expected profit rates, please visit alrayanbank.co.uk/compare

Can Al Rayan Bank change the expected profit rate?

The expected profit rate on the account is variable. This means that the expected profit rate can go up or down.

If we need to tell you about a reduction in expected profit rate, we will usually contact you by email if we hold your email address, or we will write to you by post. We will give you at least 30 days’ notice so you can consider your options before the change takes effect.

Any increase in expected profit rate will be applied to your account immediately without prior notice. We may not notify you about an increase in expected profit rate.

What would the estimated balance be after 12 months based on a £2,500 deposit?

If on account opening you deposited £2,500 into your 120 Day Notice Account the estimated balance on your account after 12 months would be £2,560.66

This is for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

To open this account you must be at least 16 years of age and have the minimum deposit required, which for this account is £2,500. The maximum balance limit is £1,000,000. 

You can make any number of deposits into this account.

You can open this account:

• Through Digital Banking (if you're registered) 
• Online via our website

How to fund your account: 

You can fund your 120 Day Notice account by direct account transfer, you will need to make a note of the following:

• Your account number, which is a unique eight-digit number.
• Your sort code which is 30-00-83
• You’ll find your account number and sort code in your Welcome Letter, which you will receive a few days after opening your account.

Please note: You can only fund your account via a direct account transfer from an account in your name. Al Rayan Bank doesn't accept third party transfers.

Please pay your deposit using the following information:

• Account name: the name of the account holder
• Sort code: 30-00-83
• Account number: ********

You can manage this account:

• Through Digital Banking (if you're registered) 
• By post (for withdrawal instructions only)

Can I withdraw money?

As long as there are sufficient funds in your account, you can make any number of withdrawals for any amount. However, you must give us 120 days’ notice of your intention to withdraw funds.

You will not be able to withdraw any of your funds, or close your account without providing us with 120 days’ notice,