Sharia compliant 36 month/ 3 year fixed term deposit

Important Notice

Enhancements to your online banking service:

Al Rayan Bank has been working hard to improve the ways in which you can manage your accounts, with the aim of making your banking with us as convenient as possible. We have, therefore, added the following functionality to your online banking facility:

You can apply for our range of savings products online without the need to print and return application forms and other documents. In most cases you will be able to open accounts in a few minutes

You can deposit money into your new Al Rayan Bank savings account by using your debit card or setting up a regular Direct Debit

Online bank statements covering the last 12 months to date are available to view and print

A range of notifications can be set up to help you manage your account more efficiently. For example, you can opt to receive emails to let you know when your account reaches a certain balance or when a debit leaves your account

Please note that the browsers currently supported by our online banking facility include Microsoft Internet Explorer 8, 9, 10 and 11, Google Chrome, Apple Safari and Firefox.

If you do not currently use any of these browsers, you can download your preferred one either from the Microsoft, Google or Apple websites.

CryptoLocker ransomware spreading fast

Fraudsters are spamming millions of people with emails that appear to be from banks and other financial institutions that carry CryptoLocker ransomware. The National Crime Agency (NCA) says the emails have been sent to millions of people.

Encrypts the files on your PC

The emails carry malicious files that disguise themselves as correspondence (for example, a voicemail, fax, details of a suspicious transaction or invoices for payment). The emails actually carry CryptoLocker ransomware. Once installed CryptoLocker works by encrypting personal files such as, photos, music, office documents etc. Once the files have been encrypted CryptoLocker displays a screen with a countdown timer and a demand for the payment.

The NCA's National Cyber Crime Unit (NCCU) says you should never send the payment of a ransom to criminals as there is no guarantee that they would honor the payments in any event.

CryptoLocker prevention advice

Do not to click or download unsolicited email attachments.

Update your Antivirus software and operating systems regularly.

Back up all your important files and store them off your network.

Where a computer becomes infected it should be disconnected from the network, and professional assistance should be sought to clean the computer.

Various antivirus companies offer remedial software solutions (although they will not be able to restore encrypted files).

Important

Keep your passwords safe at all times and do not write them down. You should never tell anyone your password

Beware of emails that ask you to confirm your password or other details. (We will never send you an email asking for your password or other security details)

Ensure no-one is watching you logon. Avoid using public or shared facilities such as Internet Cafes or other people's computers to access your banking services

Keep your firewall on

If you suspect that you have received a suspicious email or have entered a counterfeit copy of our website you can contact us on webfraud@alrayanbank.co.uk or call us on 0800 4086 407

36 Month Fixed Term Deposit

Earn the highest level of profit by putting your money away for the fixed term.

2.16%*Expected profit rate

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Our award-winning^ 36 Month Fixed Term Deposit savings account is designed to give you the highest expected profit on your savings over a fixed period of time.

This account has the highest expected profit rate of any Al Rayan Bank savings account. It provides the option of reinvesting your profit, or taking a quarterly return on your savings.

All of Al Rayan Bank's products and services are endorsed by our Sharia Supervisory Committee; you can view the certificate of endorsement for this account by following this link.

*Where profit is reinvested and paid on maturity. Terms & conditions apply.
^Best Fixed Account Provider - Moneyfacts Awards 2017.

Features & benefits

The expected profit rate is 2.16% (where profit is reinvested and paid on maturity)
Profits paid can be taken quarterly. For customers who choose to do this, the gross per annum expected return is 2.14%
Requires a minimum deposit of £1,000
Deposits may be made by cash, cheque or by direct account transfer
Your money is invested ethically. We invest in Sharia compliant goods and services and do not invest in alcohol, tobacco, pornography, arms, gambling or any interest bearing activity

Forms & other information

Application forms

(Existing customers only need to complete the FTD Instruction form)

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 website. Al Rayan Bank is not responsible for the content of external websites.

Summary box

Summary box
Account name	36 Month Fixed Term Deposit
What is the expected profit rate?	2.14% (gross per annum) Your profit is calculated and paid to your nominated account on a quarterly basis.
Can Al Rayan Bank change the expected profit rate?	The expected profit rate that applies to your Fixed Term Deposit Account is agreed at the outset. If for any reason Al Rayan Bank believes it will not be able to meet the expected profit rate, we will write to you and you will be able to take back your deposit with all the profit earned to date.
What would be the estimated balance on maturity	If on account opening you deposited £1,000 into your 36 Month Fixed Term Deposit Account the estimated balance on the maturity of your account would be £1,066.12. This is for illustrative purposes only and does not take into account your individual circumstances.
What will happen on maturity?	When your Fixed Term Deposit Account matures, we will take one of the following options: Pay your balance into an existing Al Rayan Bank account Pay your balance into an account that you nominate Open an Al Rayan Bank On Demand Savings account and pay your balance into this account. The On Demand Savings account is an instant access savings account from which you will be able to withdraw your balance from We will write to you in advance of the maturity of your account balance to confirm what you would like us to do on maturity.
How to manage your account online	Our secure online banking portal enables you to: View account statements and transactions; and where your account allows for it Move money between accounts, and Apply for withdrawal requests To register, please download an application form or call us on 0800 408 6407.
Contact us	If you need to contact us for any reason you can Call us on 0800 4086 407 from Monday to Friday, 9am to 7pm or on Saturday, from 9am to 1pm Send us a secure message through our online banking portal Visit one of our branches Write to us at Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ
Your right to cancel	Once you have paid your deposit into your Fixed Term Deposit Account, you wil not be able to close the account or withdraw any of your funds before the date of maturity.
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.

How to apply

New customers

If you do not have an existing account with Al Rayan Bank, you can apply online through our secure online application.

Apply online

Existing customers

If you already hold an account with Al Rayan Bank, you can apply for our current and saving accounts through your existing online banking facility.

I was drawn to IBB (the previous name for Al Rayan Bank) for the market-leading profit rate being offered for the 24 month Fixed Term Deposit Account but it was the Bank’s top-rate customer service that really overwhelmed me.

Lorna Daniels

Even higher returns

Fixed term deposits from Al Rayan Bank

Up to 2.16%* expected profit rate

Important Notice

CryptoLocker ransomware spreading fast

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36 Month Fixed Term Deposit

Our award-winning^ 36 Month Fixed Term Deposit savings account is designed to give you the highest expected profit on your savings over a fixed period of time.

Features & benefits

Forms & other information

Summary box

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