120 Day Notice Cash ISA

Provide 120 days' notice to access your money and earn a higher rate of expected profits tax free.

1.20%*Expected profit rate

Al Rayan Bank’s 120 Day Notice Cash ISA pays a higher rate of profit than our 60 Day Notice Cash ISA.

You need to give us 120 days' notice before you can withdraw your money, unless you ask to transfer your ISA balance to another ISA provider. In this case no notice is required, though you will experience a loss of profit. 

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. You can operate this account online, via the post or through our branches.

* Gross p.a. Terms & conditions apply.

Features and benefits

Features and benefits

  • Minimum opening balance of £250
  • Profits are not subject to UK tax
  • Married couples can combine their ISA allowance across two accounts
  • Pay money into your account online, by telephone, by post* or at a branch
  • Transfer existing ISA balances into your Al Rayan Bank Notice Cash ISA
  • Flexibility to make additional deposits with no minimum amount, up to your annual cash ISA allowance.
  • Give 120 days’ notice to access your money online, in a branch or through the post

*Cheques only

Forms and leaflets

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.

Summary box

Summary box  
Account name 120 Day Notice Cash ISA
What is the expected profit rate?

1.20% (gross per annum)

We will calculate and pay your profits at monthly intervals.

Can Al Rayan Bank change the expected profit rate?

The expected profit rate that applies to your 120 Day Notice Cash ISA 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 on maturity?

If on account opening you deposited £1,000 into your 120 Day Notice Cash ISA the estimated balance at the maturity of your account would be £1,012.00.

This is for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

There is a limit to the amount you can invest in an ISA in any tax year; this is referred to as the annual ISA allowance*. The annual ISA allowance is currently £20,000 and the whole amount can be invested in a cash ISA.

*This is our current understanding of the annual ISA allowance.

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

  • Transfer funds or set up a standing order from another account 
  • Take your cash or cheque to one of our branches or a branch of Lloyds Bank plc.
  • Send a cheque to Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ with your account number written on the back

Please note that you can only pay into one new cash ISA in each tax year. A tax year runs from April 6th of one year to April 5th of the next. You cannot carry over any unused ISA allowance.

If you have cash ISA or a stocks and shares ISA with other providers, you can transfer either partial or full balances** into Instant Access Cash ISA. You will need to complete and sign a transfer form, and send this to us at the above address. You can obtain a transfer form in any of the following ways:

  • By downloading a copy from our website at alrayanbank.co.uk
  • By calling us on 0800 4086 407
  • By visiting one of our branches

** Under HM Revenue & Customs ISA regulations, only whole transfers of current tax year subscriptions (including profit) can be accepted.

Linked account

If you try to deposit more than the annual ISA allowance into your new Notice Cash ISA in any tax year, we will place the excess into a linked account nominated by yourself.

If you asked us to open an On Demand Savings account to act as your linked account, you will receive a welcome pack in relation to this account under separate cover.

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

To apply for our Notice Cash ISA you must be:

  • A personal customer over the age of 16
  • A resident of the UK
  • Able to make the minimum deposit required for the account

You can apply for our Notice Cash ISA in any of the following ways:

Online

  • To apply online for a Notice Cash ISA click here
  • If you are an existing customer, please apply through online banking

By phone

  • You can call our Customer Services team on 0800 408 3088, Monday to Friday between 9.00am and 7.00 pm, and on Saturdays between 9.00 am and 1.00pm.

By post or at one of our branches

  • You can download, print and complete an application form, and send it along with the required proof of identity and address to:

Al Rayan Bank PLC 
PO Box 12461
Birmingham
B16 6AQ

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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