Individual Savings Accounts (ISAs) are a tax efficient way to make the most of your money.
Individual Savings Accounts (ISAs) are a tax efficient way to make the most of your money. You can use ISAs to save cash or invest in stocks and shares, however, Al Rayan Bank only offers a cash ISA.
- There is a limit to the amount that you can pay into a cash ISA in any one tax year, and you can only open one new cash ISA in any one tax year
- The current ISA allowance is £20,000^ in the 2017/2018 tax year
- You can invest the full amount in either a cash ISA or a stocks and shares ISA, or a combination of both
- You cannot pay into more than one Cash ISA each tax year, and you cannot pay into more than one Stocks and Shares ISA each tax year
- You can pay into one Cash ISA and one Stocks and Shares ISA each tax year
If you would like to find out more about investing in a Sharia compliant stocks and shares ISA, we can put you in touch with an Independent Financial Advisor (IFA). Fees will be charged for this service, arranged and agreed at the outset between yourself and the IFA.
^This is our understanding of the current tax laws which may be subject to change.
|Account||Expected profit rate||Min deposit amount|
|12 Month Fixed Term Deposit Cash ISA||1.50%* 1||£1,000||Find out more|
|24 Month Fixed Term Deposit Cash ISA||1.70%* 1||£1,000||Find out more|
|Instant Access Cash ISA||1.22%*||£50||Find out more|
*Gross p.a. Terms & conditions apply.
1When profit is reinvested and paid on maturity, the annual equivalent expected profit rate will be 1.50% on 12 Month FTD ISA and 1.70% on 24 Month FTD ISA.