Shari'ah fixed deposit investment account

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

^R 1 000

opening deposit

At maturity

Access to Funds

Up to 5.57%

indicative profit rate

Zero

Monthly Fees

Compare now

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

Shari’ah Banking

Weightages

The Shari’ah Fixed Deposit works on a system of weightages. This means that your return is dependent on the term and balance of your investment. The weightages attached to your account are as follows:

	R10,000 to R99,999		Below R10,000
Weightage term	Annual indicative profit rate	Weightage rate	Annual indicative profit rate	Weightage rate
33 days to under 3 months	2.30%	0.79	2.20%	0.79
3 months to under 6 months	2.33%	0.82	2.23%	0.82
6 months to under 12 months	2.38%	0.90	2.28%	0.90
12 months to under 18 months	2.58%	0.97	2.48%	0.97
18 months to under 24 months	2.97%	1.00	2.87%	1.00
24 months to under 36 months	3.30%	1.04	3.20%	1.04
36 months to under 48 months	3.93%	1.12	3.83%	1.12
48 months to 60 months	5.37%	1.17	5.27%	1.17
60 months	5.57%	1.17	5.47%	1.17

*Please note that the weightage rate and profit sharing rate has already been included in the indicative profit rates displayed above.

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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