On Demand Savings Account

• No notice required to make a withdrawal from your savings
• No limit to the number of withdrawals you can make in any month – subject to there being sufficient funds in your account
• Profits are calculated and paid on the last working day of every month, based on the daily closing balance you maintained in your account for that month

To find out more about the Profit Sharing Ratio click here

• Deposits may be made by cash at our branches, by cheque or by direct account transfer
• Your money is invested ethically. We invest only in Sharia compliant goods and services and, for example, do not invest in alcohol or tobacco companies
• Automatic access to your account via our automated telephone banking service 24/7 or online

New Account Opening Criteria

To be eligible to open an On Demand Savings Account with us please ensure you can answer "yes" to at least one of the following:

• Set up a completed Standing Order Mandate for a minimum of £50 a month to ensure regular deposits into your new IBB On Demand Savings Account 
• Make a minimum initial deposit of £500 into your On Demand Savings Account (via a cheque if possible)

To open an account or for more information click here

Profit rates
While our investment methods are strictly in keeping with Sharia, we make every effort to ensure that the profit rates paid on all our Savings Accounts are market-competitive.

To find out more about the Profit Sharing Ratio click here

All our Savings Accounts statements are quarterly.

Sharia Approval - Certificate of Endorsement

Our Savings and Term Deposit Accounts have been approved by our Sharia Supervisory Committee.

Certificate of Approval for On Demand Savings Account

There are various ways to open an account or to request more information:

Phone: If you would like more information please ring our Customer Services Team on 0845 6060 786 (Mon - Fri 9am - 7pm, Sat, 9am - 1pm)

Face to Face:  Visit one of our branches

Online:  Click here to register your interest or download and print out the application form and associated documentation below.

In order to open an account with us, you will need to download:

Application Form

Supplementary Form for existing customers

R105 Application Form for non ordinarily UK Residents

On Demand Savings Account Special Conditions

Consumer Banking Terms and Conditions

Please ensure you have read and understood the Consumer Banking Terms and Conditions, before you sign and return the form to your local branch or post it to us.

The following information should also be read:

Proof of Identity Leaflet

Personal Banking Booklet

Existing Customers - Opening an additional account

If you are an existing customer holding either a Savings Account, Direct Savings Account, Term Deposit Account, or another Current Account please download:

Existing Customers - Add new account Application Form

Please ensure you have read and understood the Consumer Banking Terms and Conditions and On Demand Savings Account Special Conditions before you sign and return the form to your local branch or post it to us.

What to do now:

Return the application form to either your local branch or post it to us:

Our postal address is:

Islamic Bank of Britain PLC
PO Box 12461
Birmingham
B16 6AQ

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Click here to see our latest Target Profit Rates