Asalaamu'Alaikum,
I'm considering closing my current conventional UK-based bank account and opening a Sharia compliant bank account. I'm seeking advice on the best options for Sharia compliant current and savings accounts that offer the best returns.
Currently, I have a mortgage with Al Rayan, so it would be straightforward to open an account with them. However, I've also come across Gatehouse Bank, which offers a saver's account with a promising 7% return rate.
Additionally, Isbank has a 4-year fixed savings rate of 4.5%, which seems appealing.
Since my mortgage has a fixed rate until the end of 2026, I'm looking to maximise my savings to pay off a bigger lump sum at the end of 2026.
Any advice or recommendations would be greatly appreciated. Thank you in advance!
I'm considering closing my current conventional UK-based bank account and opening a Sharia compliant bank account. I'm seeking advice on the best options for Sharia compliant current and savings accounts that offer the best returns.
Currently, I have a mortgage with Al Rayan, so it would be straightforward to open an account with them. However, I've also come across Gatehouse Bank, which offers a saver's account with a promising 7% return rate.
Additionally, Isbank has a 4-year fixed savings rate of 4.5%, which seems appealing.
Since my mortgage has a fixed rate until the end of 2026, I'm looking to maximise my savings to pay off a bigger lump sum at the end of 2026.
Any advice or recommendations would be greatly appreciated. Thank you in advance!