- Provides a higher profit rate than our other savings accounts
- Requires a minimum deposit of £1,000, over a period of 3, 6, 12, 18 or 24 months
- Your target profit rate is maintained and monitored throughout the term of your account
- For 3, 6 and 12 month accounts profits are calculated and accrued every month and paid on maturity
- For 18 and 24 month accounts profits are calculated and paid quarterly, or you can retain your profit to be invested with your deposit amount
- Deposits may be made by cash, 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
Sharia principles mean we cannot offer you interest, instead, we make Sharia compliant investments on your behalf to achieve expected profit rates. This arrangement is known as Wakala, and is approved by our Sharia Supervisory Committee.
To find out more about the Fixed Term Deposit Account click here (leaflet)
Our Fixed Term Deposit account is available through our branch network or by post.
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.
For more information, ring our Customer Services Centre on 0845 6060 786, or register your interest here.
Sharia Approval - Certificate of Endorsement
Our Savings and Term Deposit Accounts have been approved by our Sharia Supervisory Committee.
Certificate of Approval for Fixed Term Deposit Account
There are various ways to open an account or to request more information:
By 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
3, 6, and 12 Month Instruction Form or 18 and 24 Month Instruction Form
3, 6 and 12 Month Fixed Term Deposit Account Special Conditions or 18 and 24 Month Fixed Term Deposit Account Special Conditions
R105 Application Form for non ordinarily UK Residents
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, Fixed Term Deposit Account, 60 Day Notice Account or another Current Account please download:
3, 6, and 12 Month Instruction Form or 18 and 24 Month Instruction Form
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.
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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