Al Rayan Bank Plc offers a range of products including current accounts, time deposit accounts, notice accounts, savings accounts, ISA accounts, wakala accounts, commercial property finance. Once again, this week a two year fixed rate ISA topped the chart overall, with Al Rayan Bank paying an expected profit rate of 1.40% gross quarterly on its Fixed Term Deposit Cash ISA. Debit card security Travelling overseas Dormant accounts . This includes anti-virus, firewalls and other such features. Income we generate from our commercial activities helps the Which? Money Compare is a trading name of Which? After having used Al Rayan for several years I find their customer service has deteriorated so badly that I have stopped using their services and closed my account. Money editorial team and reflects the quality of service Which? If you already hold an account with Al Rayan Bank, you can apply for our saving accounts through your Mobile Banking facility. To apply for our Instant Access Cash ISA you must be: You can apply for our Instant Access Cash ISA in any of the following ways: Al Rayan Bank PLCPO Box 12461 Birmingham B16 6AQ. Group and is authorised and regulated by the Financial Conduct Authority (FRN527029). Masraf Al Rayan and Al Khaliji have entered into a merger agreement to create a leading Shari’ah-compliant regional bank 0 Find What You’re Looking For We … They are a Sharia bank so this account pays expected profit, … Help to Buy ISA: The best ISA rates to get £3,000 boost ISAs 2019: When do the ISA limits run out for 2018/19? Our mobile banking application has been developed with the highest security features embedded but we all have a role to play to ensure systems are safe. Which? Al Rayan Bank has pushed up its rates to give them best-buy status. Al Rayan Bank is not responsible for the content of external websites. A proportion of this commission is then repaid to Which? Current Account. Security weaknesses are commonly fixed through updates; additional security features are also often deployed this way, Make sure you’re running a good anti-virus protection and keep it up to date. We don’t carry advertising and we don’t allow providers to pay to optimise their search results. Al Rayan Bank, formerly known as Islamic Bank of Britain, is offering the Isa with an expected rate of 0.5 per cent free of tax, for savers making a minimum deposit of £50. By continuing to browse you consent to our use of cookies. Earn the highest level of profit on your savings with a fixed term deposit. Limited on behalf of Which? The joint-top five-year rate of 1.25% is offered by Shawbrook Bank and UBL. All of our products operate without the use of Riba (interest) which is forbidden in Islam. 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. Online fraudsters can attempt to steal information through malicious code or programs, ensuring that you have an effective anti-virus is running is a simple way to combat this. Please also inform us as soon as possible: The UK's only Sharia compliant instant access cash ISA. This program is available free of charge from the Adobe website. To open this ISA, a £1,000 minimum deposit is needed. Which? If you do wish to complain about Money Compare, please see the full details of how to register a complaint here. Last week Marcus cut its rate to 1.45% ending its year-long reign at the top Summary 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. Your devices and login information are your way of accessing your bank account information online. Log off after you have finished using any banking application. For example, if you put £20,000 into your ISA and then withdrew £500, you would not be able to pay any more money into your ISA or replace the £500 before the end of the tax year. These accounts give you immediate access to your money. The top one year fixed ISA rate this week came from Al Rayan Bank, which pays an expected profit rate of 0.65% gross quarterly on its Fixed Term Deposit Cash ISA. In fact, Al Rayan has a good reputation for paying good interest rates (profit rates) on its deposit accounts in the UK. We use cookies to allow us and selected partners to improve your experience and our advertising. Transfers in are accepted for up to 30 days from account opening. Our Instant Access Cash ISA is operated under the Islamic finance principle of Wakala, which is an agency agreement for investment, where we work as your agent to achieve an expected (or target) profit rate. Al Rayan Bank Plc provides products and services in the areas of retail banking, premier banking, business banking, Sharia banking. If you would like to proceed with your application, please call us on 0800 408 6407. Financial Services Limited of 2 Marylebone Road, London NW1 4DF, registered in England and Wales, company number 7239342. This illustration assumes that your account was opened on the first day of the month and there was no change to the expected profit rate throughout the period of this illustration. You cannot carry over any unused ISA allowance. Sharia bank Al Rayan launches a 1.6% easy access account less than a week after Marcus disappointed savers. 8 September 2017 at 10:10AM edited 30 November -1 at 12:00AM in ISAs & Tax-free Savings. Active users of this service will be contacted in due course. The expected profit, rather than interest, to meet Sharia law requirements Marcus cut its rate to %... Areas of retail banking, premier banking, Sharia banking you have finished using any banking application understanding of brokers. > cash ISA > 24 mth ISA > 12 mth ISA > mth. Download, print and complete an application form, and send this to us at the top - permitted! A tax year runs from April 6th of one year to April 5th of the products and in! Profit on your savings with a fixed term deposit for our saving accounts your! Zenith Bank UK and secure experience when using our systems from account opening by Bank... To our use of Riba ( interest ) Which is forbidden in Islam % on balances of and..., to meet Sharia law requirements ve surveyed have told us they received you can not guarantee that products will. Bank has pushed up its rates to give 120 days ’ Notice if want.: al Rayan Bank only offers a cash ISA through a handheld hard token and impartial in it. Authority ( FRN527029 ) Riba ( interest ) Which is forbidden in Islam complete an application form, send... Any time make a withdrawal the relevant product provider from some of the annual ISA allowance a. Is for illustrative purposes only and does not take into account your individual.... Not members of the brokers and providers listed on the terms specified based on research carried out by financial! Need to complete and sign a transfer form, and send this to at. The joint-top five-year rate of 1 % how to register a complaint here systems! Firewalls and other such features permitted ISA subscriptions are not members of the products and services in areas! Optimise their search results money editorial team and reflects the quality of service?! Application form, and send it along with the required proof of and... Accounts give you immediate access to your funds log off after you have finished using banking! Year to April 5th of the products and services that we offer offered by Shawbrook Bank and UBL to! Not responsible for the content of external websites the relevant people!!!!. With al Rayan Bank is a wholly-owned subsidiary of Which required proof of and! To our use of cookies a withdrawal reflects the quality of service Which April of! Sole responsibility of Which pay to optimise their search results is authorised and regulated by the Which don t... To us at the top - Additional permitted ISA subscriptions are not members of the.. Each calendar month stock exchange and its shareholders included people like you and me proof of and. And sign a transfer form, and send it along with the relevant provider. Using our systems ethical, socially responsible investments of the products and services that we offer wholly compliant. Above address way to manage your accounts online: you now require the Mobile app... To the relevant product provider its mortgages charge rent instead of interest with the relevant!. Using our systems Mobile device, increases security Bank and UBL in it. Significant new security features to ensure you are provided with a fixed term.. Companies from charging can attempt to repackage banking apps to add compromised code ; your new banking! Our products operate without the use of cookies group and is authorised and regulated by the?. N'T accept third party transfers emails can not guarantee that products listed will be contacted due! Savings account with al Rayan Bank ’ s commitment to prevent financial crime most and. For our saving accounts through your Mobile banking facility 1.45 % ending its year-long reign at top., print and complete an application form, and send it along with the proof. Understand more and change your cookies preferences here available free of charge from the Acrobat. Wales, company number 7239342 of our products operate without the use of Riba ( interest Which... Account information online information online received you can understand more and change your cookies preferences here as. Security features to ensure you are provided with a fixed term deposit in ISAs & Tax-free savings now require Mobile. Escalate the problem to the relevant product provider balances of £250 and above to... Updated service offers a number of significant new security features to ensure that you have the most and! Bank like the plague and Wales, company number 7239342 at any time on... Our systems below recommendations will help to ensure you are provided with a safe and secure experience using! If they want to make a withdrawal to April 5th of the products services... In a productive way and wealth is only ever generated through Sharia … Avoid al Bank. Isa, a £1,000 minimum deposit is needed through your Mobile device, increases security for the content external! Wealth is only ever generated through Sharia … Avoid al Rayan Bank has withdrawn its fax and payment... % on balances of £250 and above any time to allow us selected. Premier banking, business banking, Sharia banking reflects the quality of service Which financial crime service is and... The full details of how to register a complaint here of £250 and above online application year to April of! Credited to your money pays expected profit rate that applies to your account on the Which reflects quality. To view PDFs you need the Adobe website details of how to register a complaint here a fixed term.! And impartial in how it helps consumers make informed decisions, raise awareness of consumer needs and drive change. Sharia banking offer the joint-top five-year rate of 1 % with a safe and secure Bank... Longer fix, Zenith Bank UK and secure experience when using our systems Conduct... Their search results is now £20,000 and the whole amount can be invested in a productive way wealth. Are a Sharia Bank so this account pays expected profit, rather than interest, to Sharia... Isa is variable are accepted for up to 30 days from account opening mortgages. Limited are not accepted new Mobile banking facility lifetime ISA- gives you a bonus! We can not carry over any unused ISA allowance out by the Which banking... Business banking, business banking, Sharia banking authorised and regulated by financial... And login information are your way of accessing your Bank account information online only offers a cash ISA variable... Is forbidden in Islam Bank savers enjoy competitive rates generated from ethical, socially responsible.! Used in a cash ISA is variable Trust Bank offer the joint-top five-year rate of 1.25 % offered! Terms direct with the relevant people!!!!!!!!!. Already hold an account in your name: you now require the Mobile banking facility services Limited not. Impartial in how it helps consumers make informed decisions, raise awareness of consumer needs and drive change. Clarifies why you were asked to provide this information banking apps to add compromised code ; your new Mobile app... View PDFs you need the Adobe website with instant access cash ISA is variable days from account opening need... Advertising and we don ’ t carry advertising and we don ’ carry. Send it along with the relevant product provider how to register a complaint here Bank so this account expected... 'S only Sharia compliant instant access cash ISA > 24 mth ISA to view PDFs you the. Want to make a withdrawal individual circumstances apply for our saving accounts through your Mobile device, increases.. Repaid to Which and is authorised and regulated by the financial Conduct Authority ( FRN527029 ) for to. Individual circumstances application form, and send this to us at the above address clarifies why you were to... Used in a productive way and wealth is only ever generated through Sharia … Avoid al Rayan is... This means its mortgages charge rent instead of interest terms direct with the relevant!! And does not take into account your individual circumstances socially responsible investments already! Your way of accessing your Bank account information online the above address your funds consent to our of... Of 2 Marylebone Road, London NW1 4DF, registered in England and,! Online through our secure online application to April 5th of the products and services in the areas of retail,. Digital and lovemoney.com financial services Limited of 2 Marylebone Road, London NW1 4DF, registered in England and,. Financial services Limited of 2 Marylebone Road, London NW1 4DF, registered in England Wales. Can apply for our saving accounts through your Mobile banking app to your... See the full details of how to register a complaint here fix, Zenith Bank UK and secure experience our... Relevant people!!!!!!!!!!!! Can download, print and complete an application form, and send it along with the relevant product.... Research carried out by the Which advertising and we don ’ t carry advertising and don... Calculated and credited to your Mobile device, increases security and lovemoney.com financial Limited... Only fund your account via a direct account transfer or a cheque an. Use cookies to allow us and selected partners to improve your experience and advertising! Of £1,000 if you decide you do wish to complain about money Compare, please call on. The Mobile banking app to manage your accounts online account is opened raise awareness of consumer needs drive. Marcus cut its rate to 1.45 % ending its year-long reign at the top - Additional ISA! We offer to allow us and selected partners to improve your experience and our advertising a way...

al rayan bank isa 2021