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Shari'ah fixed deposit investment account

Savings and investment Shari'ah banking

Get an investment account that is based on the Mudarabah principle. Save a lump sum for a fixed term to earn competitive profit share.

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 and your inter-account transfers are free
Shari’ah Fixed Deposit investment account indicative profit rates

View the indicative profit earned per account balance band

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 only at maturity

See Shari’ah Fixed Deposit T&Cs
See general T&Cs

How it works
  • Because Shari’ah 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 from these investments are shared with you
What it costs
  • No monthly fees
  • R450 minimum early withdrawal charge

See 2020 pricing guide
See 2021 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 only at maturity

See Shari’ah Fixed Deposit T&Cs
See general T&Cs

  • Because Shari’ah 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 from these investments are shared with you
  • No monthly fees
  • R450 minimum early withdrawal charge

See 2020 pricing guide
See 2021 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

 

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1

Using any qualifying Standard Bank personal Credit, Cheque or Debit card.

2

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3

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