Savings

Halal savings accounts

Sharia-compliant savings pay an expected profit rate instead of interest. Look out for FSCS protection on eligible cash deposits up to £85,000.

ProviderAccount typeExpected profitMin depositFSCSTerm

Gatehouse Bank

1 Year Fixed Term

4.75% AER

£1,000

Yes

12 months

Al Rayan Bank

12 Month Fixed Term Deposit

4.7% AER

£1,000

Yes

12 months

Wahed

Wahed Save (Treasury)

4.5% AER

£1

Check

Instant access

Nomo

Fixed Term Deposit

4.6% AER

£1,000

Check

12 months

What does "expected profit rate" mean?

Islamic banks invest your deposit in Sharia-compliant activities and share the profit with you. The rate is targeted, not guaranteed — though in practice UK Islamic banks have consistently paid the advertised expected rate.

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