Comparisons

Halal Savings Accounts - Fixed Term

A comparison of sharia-compliant savings account with fixed terms. This means that the money must stay in the account for the length of time given in the product name. For example, in the "Al Rayan Fixed 1 Year" account, your money is locked in for 1 year with no option to take out the money until the end of the fixed term.

NameExpected profit rateMinimum depositWebsite
Al Rayan Fixed 2 Year2.40%£1,000Al Rayan
BLME Fixed 2 Year2.40%£1,000BLME
Gatehouse Fixed 2 Year2.3%£1,000Gatehouse Bank
BLME Fixed 1 Year2.2%£1,000BLME
Al Rayan Fixed 1 Year2.15%£1,000Al Rayan
Gatehouse Fixed 1 Year2%£1,000Gatehouse Bank
UBL Fixed 1 Year0.60%£2,000UBL
UBL Fixed 6 Months0.15%£2,000UBL

Halal Savings Accounts - Notice Accounts

These accounts are less rigid than the fixed term accounts. You still have to lock your money away, but you can withdraw if you give an agreed number of days' notice. You get less return, but if you want quicker access to your cash than a fixed term account, you should consider these.
NameExpect Profit RateMinimum InvestmentNotice PeriodWebsite
Gatehouse 120 Day Notice1.87%£1,000120 daysGatehouse Bank
Gatehouse 95 Day Notice1.85%£1,00095 daysGatehouse Bank
BLME1.7%£10,00090 daysBLME
Al Rayan 90 Day Notice1.5%£25090 daysAl Rayan
Gatehouse 60 Day Notice1.4%£1,00060 daysGatehouse Bank
Gatehouse 31 Day Notice1.3%£1,00031 daysGatehouse Bank
Al Rayan 60 Day Notice1%£25060 daysAl Rayan
UBL 90 Day Notice1.00%£2,00090 daysUBL

Sharia-Compliant Property Crowdfunding

A list of halal property crowdfunding platforms. These platforms offer hands-off investing in property.
NameAverage annual rental yieldSet-up FeeManagement FeeExit FeeBuy-To-Let OptionsBuy-To-Sell OptionsFCA-Authorised?
Yielders6-7%2.5%10%15% of net profit✓ (for HNW only)✓ (Direct)
Igloo Crowd6-7%5%10%15% of net profit✓ (Appointed Representative)

Stock market funds

A list of hands-off funds offering exposure to stock market listed with their 3-year annualised returns. Annualised return means the return over the last 3 years, expressed in yearly figures. Note that these figures will be heavily skewed by the performance of the stock market as a whole which has, in recent years, been largely positive. Past performance is not an indication of future performance.
Name3-year annualised return (after fees)Annual fee chargeMinimum investmentNotes
Wahed (very aggressive)7.02%1.62%£100
Wahed (aggressive)5.31%1.62%£100
Oasis Crescent Global Equity Fund6.7%1.28%£100 (via HL)You can buy this fund in a HL account
iShares World Islamic ETF8.75%0.25% (maximum of £30)£1You can buy this in an AJ Bell account

Halal Mortgages

A summary of the sharia-compliant mortgages in the UK. Note that each bank has multiple products. We have specified which product's rate we have used in the rate column.
LenderRateMax. LTVProduct feeIslamic structure usedMinimum finance amountMaximum finance amountLoan amount as multiple of salary  
Al Rayan 3.59% (fee-assisted 80% FTV plan)95%£0 for fee-assisted
£399 for 80% LTV
£999 for 90%+ LTV
Diminishing Musharaka£30,000£750,000 (can be higher or lower depending on product and deposit amount)4.5x
Ahli United Bank2.30% (+3-month LIBOR - on the ijara plan)70% for prime central London properties; 65% for other Central London, Outer London and Home Counties. Otherwise - at bank's discretion.0.75% of the finance amountDiminishing Musharaka£250,000
Gatehouse 3.49% (fixed for 5 years. 4.5% standard variable rate thereafter)80%£499Diminishing Musharaka£50,000£1,000,0004.5x
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