AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit
Islamic Bank Accounts in Northern Ireland
A three-year fixed term deposit paying an expected profit rate of 4.55% gross p.a. (reinvested and paid at maturity, quarterly option available), launched in support of Educate A Child International. Minimum 10,000 GBP, no withdrawals during the fixed term.
Unusually, AlRayan's three-year charity-branded FTD out-yields its own two-year product (4.55% vs 4.43%), making it the obvious pick for anyone comfortable with the longer lock. It also comfortably leads the UK Islamic three-year field. The Educate A Child International branding adds a feel-good dimension without costing the saver anything visible, though the bank does not publish what it contributes to the charity per deposit. As with the whole AlRayan shelf, profit can be taken quarterly for income or compounded to maturity, and FSCS cover applies at the 120,000 GBP limit.
Pros
- Highest three-year Islamic bank rate published in the UK at the crawl date (HBZ 4.05%, Gatehouse 3.85%)
- Charity tie-in at no cost to the saver's rate
- FSCS protected
- Backed by the bank's always-paid-expected-profit record running since 2004
Cons
- Three-year hard lock with no access
- 10,000 GBP minimum
- Only one 36-month issue - no choice of plain vs charity variant
Open Account
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Product Details
Account Type
Fixed term deposit
Monthly Fee
0 GBP
Min Deposit
10,000 GBP
Structure
Expected profit rate; paid quarterly or reinvested and paid at maturity
AlRayan Bank UK in Northern Ireland
AlRayan Bank UK's Fixed term deposit serves customers in Northern Ireland. Islamic savings in the UK pay an expected profit rate from Shariah-compliant investments rather than interest. There is no monthly maintenance fee on this account. Check the provider's FSCS status: deposits at PRA-authorised banks are FSCS protected, while e-money balances are safeguarded but not FSCS deposit protected. AlRayan Bank UK operates across the UK, so Northern Ireland residents have full access to this product.
Shariah Compliance & Oversight
Sheikh Dr. Waleed Bin Hadi (Chairman), Sheikh Dr. Nizam Yaqoobi (Vice-Chairman) and Mufti Abdul Qadir Barkatullah (Member), per the FY2025 Annual Report and Accounts; scanned fatwa certificates per product at alrayanbank.co.uk/sharia-compliance-certificates (crawled 2026-08-06).
2026-08-06
Why It's Halal
Identical Sharia architecture to AlRayan's other fixed term deposits - Sharia compliant investment of the pool, expected profit approved by the three-scholar SSC, published fatwa certificate for the FTD family - with a philanthropic overlay supporting the education charity partnership the product is named for. The SSC's annual report confirms non-compliant earnings are stripped to charity. The SSC named in the FY2025 accounts - Sheikh Dr. Waleed Bin Hadi (Chairman), Sheikh Dr. Nizam Yaqoobi (Vice-Chairman) and Mufti Abdul Qadir Barkatullah - signs an annual report confirming profit allocation followed approved bases. As with the rest of the shelf, the return is an expected profit rate rather than contractual interest, backed by the bank's statement that it has always paid at least the expected rate since 2004, when it launched as Islamic Bank of Britain, the first wholly Sharia compliant retail bank licensed in a Western country.
Regional Availability
AlRayan Bank UK serves all of the UK
✓ Available nationwide including Northern Ireland
Open Account: AlRayan Bank UK
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NationwideFrequently Asked Questions
What is AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit?
Why is AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit considered halal?
Is AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit available in Northern Ireland?
What Shariah oversight does AlRayan Bank UK have?
What financing structure does AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit use?
How do I apply for AlRayan Bank UK Educate A Child International 36 Month Fixed Term Deposit in Northern Ireland?
What halal home finance reaches Northern Ireland?
Can NI residents use Islamic banks and pensions?
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Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.