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36 Month Fixed Term Deposit

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

1.60%*Expected profit rate
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Our 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.

Features & benefits

  • The expected profit rate is 1.61% (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 1.60%
  • Requires a minimum deposit of £1,000 over a period of 3 years
  • 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
  • Deposits must be made via a direct account transfer or a cheque from an account in your name
  • At maturity, you can transfer out the funds to an account in your name

Funding your account

You can fund your savings account either by direct account transfer or a cheque from an account in your name. Whichever method you choose, 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******

Funding your account by cheque

If you’d like to pay in a cheque by post, please make your cheque payable to yourself, clearly writing your account number and reference number on the back of your cheque. You can post it to Al Rayan Bank, PO Box 12461, Birmingham, B16 6AQ. You can also deposit a cheque in person at one our branches.

Please note we can only accept payments from an account in your name.

Forms & 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 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?

1.60% (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 £1,049.07

This is for illustrative purposes only and does not take into account your individual circumstances.
How do I open and manage my account? You can open and manage your account online, over the phone, at a branch or by post. The minimum deposit required for this account is £1,000 and you can only fund your account via a direct account transfer or a cheque from an account in your name. Al Rayan Bank doesn't accept third party transfers.

You can make a deposit in any of the following ways:

  • Transfer funds from another account in your name
  • Take your cheque to one of our branches, or send it to Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ with your account number written on the back

Our secure Mobile banking app 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 dowload the app click here
Can I withdraw money?

No. 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 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.
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 Mobile Banking app
  • 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 will 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.

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