60 Day Notice Account
Put money aside for a rainy day and earn a higher level of profit.
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
Terms and conditions
For your own benefit and protection, you should carefully read the following important leaflets before you complete the application:
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.
|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 quarterly 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.
|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 £1,010.05.
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.
|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:
|How to manage your account online||
Our secure online banking portal enables you to:
To register, please download an application form at alrayanbank.co.uk or call us on the number below.
If you need to contact us for any reason you can:
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.|