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Profit rates updated on 9th November 2023.
Murabaha Fixed Term Deposit
Currencies Available
| Currency | Profit Rate | |||
|---|---|---|---|---|
| Duration | 3 months | 6 months | 12 months | |
| GBP | Gross | 4.25% | 4.50% | 5.00% |
| AER | 4.32% | 4.55% | 5.00% | |
| USD | Gross | 4.25% | 4.60% | 5.00% |
| AER | 4.32% | 4.65% | 5.00% | |
| EUR | Gross | 2.40% | 2.55% | 2.80% |
| AER | 2.42% | 2.57% | 2.80% | |
| KWD | Gross | 3.00% | 3.15% | 3.35% |
| AER | 3.03% | 3.17% | 3.35% | |
How is the profit calculated?
The profit rate on the Murabaha Fixed Term Deposit is fixed for the duration of the deposit. Profit will be paid to your account at the maturity of the deposit.
What is the estimate balance be after 12 months based on a GBP 100,000 deposit?
The estimated balance after 12 months based on a balance of GBP 100,000 would be as follows:
3 months
- Initial deposit: GBP 100,000
- Expected profit rate: 4.25% gross / 4.32% AER
- Expected profit amount: GBP 4,318.22
- Balance at the end of 12 months: GBP 104,318.22
6 months
- Initial deposit: GBP 100,000
- Expected profit rate: 4.50% gross / 4.55% AER
- Expected profit amount: GBP 4,550.63
- Balance at the end of 12 months: GBP 104,550.63
12 months
- Initial deposit: GBP 100,000
- Expected profit rate: 5.00% gross / 5.00% AER
- Expected profit amount: GBP 5,000
- Balance at the end of 12 months: GBP 105,000
Definitions And Assumptions
Gross is the rate of profit if profit were paid and not compounded each year.
AER stands for Annual Equivalent Rate and illustrates what the profit rate would be if profit was paid and compounded once a year.
For the purpose of the calculations above, it is assumed:
- Initial deposit is GBP 100,000
- No withdrawals
- No further deposits
- Profit rate did not change during the 12 months