Umbrellas

Everyday Saver (Issue 3)

Instant access to your money when you need it. This account is online only.

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1.90%
£5,000

Product summary

1.90%
£5,000
  • This account is online only.
  • One account per customer.

Summary box

1.90% (gross per annum)

Your profit is calculated and credited to your account on the last working day of each calendar month.

Can Al Rayan Bank change the expected profit rate?

The expected profit rate that applies to your Everyday Saver (Issue 3) is variable. This means that it can change at any time.

If Al Rayan Bank changes the expected profit rate on your account, we will write to you providing you with enough notice to consider your options before the change takes effect.

What would be the estimated balance after 12 months

If on account opening you deposited £5,000 into your Everyday Saver (Issue 3) and made no further deposits or withdrawals, the estimated balance on the first anniversary of your account opening would be £5,095.83.

This is for illustrative purposes only and does not take into account your individual circumstances. This illustration assumes that your account was opened on the first day of the month and there was no change to the expected profit rate throughout the period of this illustration. 

How do I open and manage my account?

You can open and manage your account online. The minimum deposit required for this account is £5,000. The maximum deposit required for this account is £1,000,000.

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.

Our secure Digital Banking app enables you to:

  • View account statements and transactions
  • Move money between accounts

To download the app click here

Funding your account

This is an online account.  You can fund your savings 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 a few days after opening your account, and on the ‘Next Steps’ and ‘Final Stage’ screens of an online application.

Funding your account by transfer

Please pay your deposit using the following information:

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

Can I withdraw money?

No notice is required to make a withdrawal from your Everyday saver account, and there is no limit to the number of withdrawals you can make in any month - subject to there being sufficient funds in your account.

You can withdraw your funds in any of the following ways:

  • Through Digital Banking (if you haven't already, you'll need to register. Visit alrayanbank.co.uk/mobile)  
  • Call us
  • Writing to us at Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ giving us instructions to make a payment to a nominated account

Contact us

If you need to contact us for any reason you can

  • Call us 
  • Send us a secure message through our Mobile Banking app
  • 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, which we then share with you.

Other information

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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Award winning savings accounts

We have been Highly Commended as the Best Bank Saving Provider.