Compare our savings accounts

View our complete range of ethical, Sharia compliant savings accounts.

Savings accounts you can open

Important information: All savings accounts require a minimum balance of £5,000. The advertised expected profit rates apply to the full balance only if the account maintains at least this minimum deposit. If the balance falls below £5,000, the profit rate drops to 0.05% gross per annum. Once the minimum balance is restored, the advertised profit rate will again apply to the entire balance.

	Category	Expected profit rate (EPR)	Initial deposit	Minimum balance	Regular deposits	Withdrawal restriction	Profit paid
Everyday Saver (Issue 3)	Instant access	2.75% Gross p.a	£5,000	£5,000	Unlimited	N/A	Monthly
12 Month Fixed Term Deposit	Fixed term	4.40%^ Gross p.a	£5,000*	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
18 Month Fixed Term Deposit	Fixed term	4.05%^ Gross p.a	£5,000*	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
24 Month Fixed Term Deposit	Fixed term	4.23%^ Gross p.a	£5,000*	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
Educate A Child International 36 Month Fixed Term Deposit	Fixed term	4.05%^ Gross p.a	£5,000*	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
Wakala	Investment	Negotiable	N/A	£250,000	N/A	No withdrawals during fixed term	On maturity

All account holders must be at least 16 years of age
* For Business Fixed Term Deposits, the minimum balance is £100,000
^ Where profit is reinvested and paid on maturity

Savings accounts you can no longer open

	Category	Expected profit rate (EPR)	Initial deposit	Minimum balance	Regular deposits	Withdrawal restriction	Profit paid
Everyday Saver (Issue 1)	Instant access	2.30%	N/A	£5,000	Unlimited	N/A	Monthly
Everyday Saver (Issue 2)	Instant access	2.30%	N/A	£5,000	Unlimited	N/A	Monthly
Instant Access Cash ISA (Issue 1)	Instant access	2.30%	N/A	£5,000	Any amount, up to ISA cash allowance	N/A	Monthly
Instant Access Cash ISA (Issue 2)	Instant access	2.30%	N/A	£5,000	Any amount, up to ISA cash allowance	N/A	Monthly
Instant Access Cash ISA (Issue 3)	Instant access	2.30% Gross p.a	£5,000	£5,000	Any amount, up to ISA cash allowance	N/A	Monthly
On Demand Savings	Instant access	2.30%*	N/A	£5,000	Unlimited	N/A	Monthly
Direct Savings Account	Instant access	2.30%*	N/A	£5,000	Unlimited	N/A	Monthly
100 Day Notice Savings Account	Notice	2.70%	N/A	£5,000	Unlimited	100 days' notice required to withdraw funds	Monthly
60 Day Notice Cash ISA	Notice	2.50%	N/A	£5,000	Any amount, up to ISA cash allowance	60 days' notice required to withdraw funds	Monthly
120 Day Notice Cash ISA	Notice	2.80%	N/A	£5,000	Any amount, up to ISA cash allowance	120 days' notice required to withdraw funds	Monthly
12 Month FTD Cash ISA	Fixed term	0.40%^	N/A	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
24 Month FTD Cash ISA	Fixed term	0.50%^	N/A	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
3 Month Fixed Term Deposit	Fixed term	0.10%^	N/A	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
6 Month Fixed Term Deposit	Fixed term	0.50%^	N/A	£5,000	N/A	No withdrawals during fixed term	Paid quarterly or on maturity
Young Person's Notice Savings Account	Notice	2.65%	N/A	£5,000	Unlimited	90 days' notice required to withdraw funds	Monthly
Young Person's Savings Account	Instant access	2.30%	N/A	£5,000	Unlimited	N/A	Monthly

* A small number of Commercial Property Finance customers, with liens held in blocked, non-transactional accounts, will receive 0.05% expected profit rate for their On Demand Savings account.

^ Expected profit rate quoted is most recent expected profit rate; customers who set up Fixed Term Deposits prior to this may be on a different expected profit rate. Previous profit rates are available at https://www.alrayanbank.co.uk/previous-profit-rates

Your eligible deposits held with AlRayan Bank UK are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

See how you're protected

More savings accounts and information

Instant access savings

Earn profit on your savings and have access 24/7.

Find out more
Digital Banking

You need to download and register for Digital Banking before you can open a new account with us.

Find out more
A guide to expected profit

Learn why Islamic banks pay profit rather than interest.

Find out more
Fixed term savings

Earn a higher level of profit on your savings with a Fixed Term Deposit.

Find out more

Frequently asked questions

Islamic banks pay profit to their savers rather than interest. Investments are monitored on a daily basis by AlRayan Bank to ensure that they will provide the expected profit rate which was quoted to the customer. This approach has proved extremely accurate; since AlRayan Bank was founded in 2004, it has always paid the rate of profit it has quoted to its customers, and on numerous occasions, when investments have performed better than expected, it has even paid more.

Learn more about expected profit

You can fund your account by direct account transfer from an account in your name. You will need to make a note of the following:

Your account number, which is a unique eight-digit number.
Your reference number, which is a unique six-digit number preceded by the letters ‘LIB’

You’ll find your account number and reference number in your Welcome Letter, which you will receive after opening your account, or on the ‘Next Steps’ and ‘Final Stage’ screens of your online application.

A Certificate of Profit is a statement that details the total value of the profit that the Bank has credited to a customer’s savings account throughout the previous tax year. Where a customer needs to complete a Self-Assessment for Tax purposes, the Certificate of Profit can be useful.

If you would like us to send you a Certificate of Profit for your savings accounts with AlRayan Bank, please contact us.