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3 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
1.81% £5,000 / No Maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Away or Compounded
  • Paid Quarterly

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Those savers comfortable with this are likely to be attracted by the variety of channels to open and manage their account  

 isbank Raisin
1.75% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Added to the account

This product from Turkey's largest private bank, isbank, is only available on the Raisin platform.  It currently comes with a £50 bonus for new customers depositing £10,000 or more

You can find out more about Raisin here

 QIB - Raisin
1.77% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

QIB (UK) Plc are a Sharia bank and their products are only available via the Raisin UK platform.  It currently comes with a £50 bonus for new customers depositing £10,000 or more

You can find out more about Raisin here

BLME
1.65% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid Away

This account pays expected profit, rather than interest, to meet Sharia law requirements.

You can find out more about them here

Close Brothers
1.65% £10,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Annually
  • Paid Away

Close Bank have been trading since 1878, are a FTSE 250 listed company and look after over £6.4bn of savings

You can find out more about them here

Gatehouse Bank
1.78% £1,000 / £85,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity
  • Paid Away

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Hodge Bank
1.60% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Away or Compounded
  • Paid Monthly
  • Paid Annually

Hodge bank is based in South Wales and was authorised in 1987.  It looks after just under £1bn of deposits.    

JN Bank
1.81% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Added to the account

JN Bank are the first Carribean bank to be authorised in the UK and launched on 8th October 2020.

Oxbury Bank
1.59% £1,000 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid on Anniversary
  • Paid Annually
  • Paid Compounded

Oxbury is a specialist agricultural bank, focused on lending to UK farms.  It got its banking licence in 2020 and launched savings accounts in February 2021.

Savers will need a smartphone to download the Oxbury Banking App as part of the security measures to access their online account

You can find out more about them here

Zopa Bank
1.60% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Compounded

Zopa started life as a peer to peer lending business in 2005 but became a licensed bank in 2019 and launched their first savings accounts in August 2020.

You can find out more about them here

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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