60 Day Notice Account

Put money aside for a rainy day and earn a higher level of profit.

1.00%*Expected profit rate

Get into the savings habit and put money aside for a rainy day. Give 60 days' notice if you want to make a withdrawal and then your funds will be available through the post, branch, telephone or online.

The 60 Day Notice Account is available to anyone over the age of 16 and you can save any amount however small subject to a minimum opening balance of £250.

If you have any spare money that you can afford to put away and get an attractive target profit rate, or are saving for something special, the 60 Day Notice Account is a perfect way to save now for reward later.

Our 60 Day Notice Account has been designed to provide you with easy online access as well as a higher rate of profit than our On Demand Savings Account.

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.

*Gross p.a. Terms & conditions apply.

Features & benefits

  • Expected profit rate of 1.00% (gross p.a.)
  • Minimum opening balance of £250
  • You can pay money into the account online, by post or telephone, or through the branches. You can also set up a regular standing order
  • You can manage this account online. You can find out more about online banking by following this link
  • Flexibility to make incremental deposits regardless of how big or small, whilst getting regular target returns on your savings
  • Give 60 days' notice if you wish to make a withdrawal, and your funds will be available online, through the post or via one of our branches
  • Sharia compliant return on your savings

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

Summary box

Summary box  
Account name 60 Day Notice Account
What is the expected profit rate?

1.00% (gross per annum)

Your profit is calculated and paid to your nominated account on a monthly basis.

Can Al Rayan Bank change the expected profit rate?

The expected profit rate that applies to your Notice Account is variable. This means that the expected profit rate 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 £1,000 into your Notice Account and made no further deposits or withdrawals, the estimated balance on the first anniversary of your account opening would be £1,010.00.

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 is no change to the expected profit rate throughout the period of this illustration. 

How to make a deposit

This account has no minimum deposit requirement, and has no maximum account balance. You can deposit as much as you like, whenever you like.

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
  • Send a cheque to Al Rayan Bank PLC, PO Box 12461, Birmingham, B16 6AQ with your account number written on the back
How to make a withdrawal

Your Notice Account requires you to provide Al Rayan Bank with 60 days’ notice before you can withdraw some, or all of your funds. You cannot access your funds until the notice period has elapsed.

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

  • Log in to online banking (if you haven’t already, you’ll need to register for online access to your account)
  • By visiting one of our branches
  • 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
  • Calling us on 0800 4086 407
How to manage your account online

Our secure online banking portal enables you to:

  • View account statements and transactions
  • Move money between accounts, and
  • Apply for withdrawal requests

To register, please download an application form at alrayanbank.co.uk or call us on the number below.

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

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 60 Day Notice Account you must be:

  • Over the age of 16; and
  • Able to make a minimum initial deposit of £250 into your 60 Day Notice Account

You can apply for our 60 Day Notice Account in any of the following ways:

Online

  • To apply online for a 60 Day Notice Account click here

By post or at one of our branches

  • Simply download, print out and complete an application form, an application form and send it along with the relevant proof of identity to:

Al Rayan Bank PLC,
PO Box 12461,
Birmingham,
B16 6AQ

  • Or return it to your local branch

By phone:

  • You can call our Customer Services team on 0800 408 6400 on Monday to Friday, between 9.00am and 7.00pm, and on Saturdays, between 9.00am and 1.00pm.

For your own benefit and protection, you should carefully read the Special Conditions and Consumer Banking Terms and Conditions before you complete the application. These documents, the application forms and other important documentation can be found in the Forms & other information section.

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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