Saving with Fixed Term Deposits

FTD 650 X 300

A Fixed Term Deposit savings account from Al Rayan Bank is a Sharia compliant savings account with a highly competitive expected rate of return, and is based on the Islamic financial principle of Wakala (Agency Agreement). Under a Wakala Agreement, a customer invests their money with Al Rayan Bank, who becomes the customer's Agent. Al Rayan Bank invests the money in Sharia compliant and ethical trading activities, to generate a target profit.

These activities are monitored closely for the performance of the investments every single day to reduce the risk and ensure that customers receive the expected profit rate. Throughout our history, Al Rayan Bank has always paid at least the expected profit rate. 

We guarantee that customers’ funds are only ever invested in Sharia compliant and ethical activities. No interest-bearing transactions and non-Sharia compliant business activities such as gambling, speculation, tobacco and alcohol are ever used. Investments take place in trades of low risk, asset backed commodities, such as property or metals.

If you have at least £1,000 to invest, want a Sharia compliant, ethical account to earn a higher expected profit rate and don't need access to your money for a period of time, our Fixed Term Deposit savings account could be the savings accounts for you. You can check out the latest expected profit rates here.

If you are interested, call our customer services team on 0800 408 6407 to discuss how Fixed Term Deposits may work for you. Or you can request a call back here

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