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Compare Al Rayan Bank's savings accounts

Whether you are looking for instant access to your funds or are happy to lock your money away for years, Al Rayan Bank has a Sharia compliant savings product which will enable you to profit from your savings while remaining true to faith. 

  Category Expected profit rate (EPR) EPR when re-invested Initial deposit Minimum balance Minimum age Regular deposits Withdrawal restriction Profit paid
On Demand Instant access 0.05% Gross p.a N/A £500 or £50 per month £500 16 Any amount No Monthly
Direct Instant access 0.15% Gross p.a N/A £1,000 £1,000** 16 Any amount No cash withdrawals Monthly
Young Person's Saving Account Children's savings 0.10% Gross p.a N/A £20 £1 None Any amount £100 per day for child once they reach 14.* Monthly
Young Person's Notice Account Children's savings 1.30% Gross p.a N/A £20 £1 None Any amount Up to account balance after notice period Monthly
60 Day Notice Notice savings 1.00% Gross p.a N/A £250 £1 16 Any amount Up to account balance after notice period Monthly
90 Day Notice Notice savings 1.50% Gross p.a N/A £250 £1 16 Any amount Up to account balance after notice period Monthly
Instant Access Cash ISA Instant Access 1.35% Gross p.a N/A £50^^ £1 16 Any amount, up to ISA cash allowance. Up to account balance Monthly
12 Month Fixed Term Cash ISA 12 months fixed term 1.60%
Gross p.a		 1.60%^ Annual equivalent £1,000^^ £1,000*** 16 Any amount, up to ISA cash allowance for 30 days from the date the account is opened No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
24 Month Fixed Term Cash ISA 24 months fixed term 1.80% Gross p.a 1.80%^ Annual equivalent £1,000^^ £1,000*** 16 Any amount, up to ISA cash allowance for 30 days from the date the account is opened No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
12 Month Fixed Term Deposit 12 months fixed term 2.15% Gross p.a 2.17%^ Annual equivalent £1,000 £1,000*** 16 N/A No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
18 Month Fixed Term Deposit 18 months fixed term 2.30% Gross p.a 2.32%^ Annual equivalent £1,000 £1,000*** 16 N/A No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
24 Month Fixed Term Deposit 24 months fixed term 2.40% 
Gross p.a		 2.42%^ 
Annual equivalent		 £1,000 £1,000*** 16 N/A No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
36 Month Fixed Term Deposit 36 months fixed term 2.50% 
Gross p.a		 2.52%^ 
Annual equivalent		 £1,000 £1,000*** 16 N/A No withdrawals during fixed term. Up to account balance after term ends Paid quarterly or on maturity
Wakala Investment Negotiable N/A £50,000 £50,000*** 16 N/A No withdrawals during fixed term. Up to account balance after term ends On maturity

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*Subject to Young Person’s Savings Account special conditions  
**A minimum balance of £1,000 must be maintained at all times
***Cannot withdraw or add to the initial deposit
^Where profit is reinvested and paid on maturity
^^Subscribe up to £20,000 in the current tax year