Shari'ah Fixed Deposit

Some of the benefits

Once-off deposit

Make a single deposit and share in Mudharaba profit-sharing model that splits gains on a 50/50 basis

Choose your term

Looking for a short- or long-term investment? You get to choose from 33 days to five years

Access from anywhere

Link your bank card for access in-app, online, at ATMS or via your phone

No monthly fees

There are no monthly service fees involved

Shari’ah Fixed Deposit investment account indicative profit rates

View the indicative profit earned per account balance band

Shari’ah Banking

These indicative profit rates are effective from 30 November 2023

	Balances below R 10 000		Balances R 10 000 to R 99 999
	Monthly Indicative Profit Rate	Indicative Profit Rate at Maturity	Monthly Indicative Profit Rate	Indicative Profit Rate at Maturity
33 days to under 3 months	7,00%	7,00%	7,20%	7,20%
3 months to under 6 months	7,05%	7,10%	7,25%	7,30%
6 months to under 12 month	7,10%	7,20%	7,30%	7,40%
12 months to under 18 months	7,15%	7,40%	7,35%	7,60%
18 months to under 24 months	7,20%	7,55%	7,40%	7,80%
24 months to under 36 months	7,25%	7,80%	7,45%	8,00%
36 months to under 48 months	7,30%	8,15%	7,50%	8,40%
48 months to 60 months	7,35%	8,50%	7,55%	8,80%
60 months	7,40%	8,90%	7,60%	9,20%

*Indicative profit rates for balances over R100 000 for any of the above terms can be provided on application

What you get

A Shari’ah compliant term investment account allowing you to invest from 33 days to 5 years
The longer you invest, the higher your potential return
Profit is calculated using the average daily balance
Profit is paid out monthly, quarterly, half-yearly, annually or at maturity.

Shari’ah Fixed Deposit T&Cs
General terms and conditions

How it works

Because Shari’ah-compliant banking excludes earning interest, you will be able to earn money by entering into a profit-sharing agreement with Standard Bank
This means the money you deposit into your account is invested in Shari’ah-compliant financing and investments, and the resulting profits generated are shared

What it costs

No monthly fees

See 2024 pricing guide

How to get it

Apply online:

Register or sign into Internet Banking
Click on the Save & Invest tab
Select Browse and navigate to Shari’ah fixed deposit investment
Click on Get Account and follow the simple steps

Apply on the app:

Download the Standard Bank App or sign in
Click on More and then select Open a new account
Click on Savings and Investment
Scroll down until you see Shari’ah fixed deposit investment
Select Open and follow the simple steps

Documents required:

Copy of South African ID (or passport if you’re not a South African citizen)*
Proof of residence not older than 3 months

^{*If you’re a minor, you’ll need the consent of your parent or guardian}

What you get
How it works
What it costs
How to get it

A Shari’ah compliant term investment account allowing you to invest from 33 days to 5 years
The longer you invest, the higher your potential return
Profit is calculated using the average daily balance
Profit is paid out monthly, quarterly, half-yearly, annually or at maturity.

Shari’ah Fixed Deposit T&Cs
General terms and conditions

Because Shari’ah-compliant banking excludes earning interest, you will be able to earn money by entering into a profit-sharing agreement with Standard Bank
This means the money you deposit into your account is invested in Shari’ah-compliant financing and investments, and the resulting profits generated are shared

No monthly fees

See 2024 pricing guide

Apply online:

Register or sign into Internet Banking
Click on the Save & Invest tab
Select Browse and navigate to Shari’ah fixed deposit investment
Click on Get Account and follow the simple steps

Apply on the app:

Download the Standard Bank App or sign in
Click on More and then select Open a new account
Click on Savings and Investment
Scroll down until you see Shari’ah fixed deposit investment
Select Open and follow the simple steps

Documents required:

Copy of South African ID (or passport if you’re not a South African citizen)*
Proof of residence not older than 3 months

^{*If you’re a minor, you’ll need the consent of your parent or guardian}

Shari'ah Banking certificates

87 KB Download Shari'ah Personal Fixed Deposit

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