Established in 2004, Al Rayan Bank offers Sharia-compliant financial services products to customers of any faith.

To be Sharia compliant Al Rayan's profits can't come from interest, gambling, and other activities that contradict Islamic values. For example, its savings products pay profits rather than interest.

Before being called Al Rayan Bank it was known as The Islamic Bank of Britain. Al Rayan was taken over in 2014 by Masraf Al Rayan, one of the largest Islamic banks in the world, and changed its name to reflect it was part of the Masraf Al Rayan group.

Their UK head office is in Birmingham.

Our product ratings for Al Rayan Bank

Our product ratings are designed to help you choose a quality product. We rate policies on the key features that are most important for the majority of customers.

Bank accounts

4 products reviewed

Basic bank accounts

1 product reviewed

Al Rayan Bank

Current Account

Feature Value
Cash withdrawal fee in UK (own bank)
£0.00
Annual fee
£60.00
Part of FSCS Yes
Unpaid transaction fee
£0.00
Bankers draft/cheque fee
£10.00
Maximum cash machine withdrawal per day
£250.00
Monthly Fee
£5.00
Debit Cards

1 product reviewed

Al Rayan Bank

Current Account

Feature Value
Card payment fee (£)
£0.00
Debit card? Yes
Maximum cash machine withdrawal per day
£250.00
Number of Free Replacement Cards
0
Account Type
Basic
Monthly Fee
£5.00
Foreign use bank accounts

1 product reviewed

Al Rayan Bank

Current Account

Feature Value
Foreign cash withdrawal fee
0%
Foreign cash withdrawal additional charge
£1.50
Foreign purchases fee
0%
Is there a limit on free cash withdrawals?
No free cash withdrawals
Monthly Fee
£5.00
Premier bank accounts

1 product reviewed

Al Rayan Bank

Premier Account

Feature Value
Annual reward and cost scenario
£-260.57
Add-ons, cashback and rewards
Dedicated relationship manager, premier digital and telephone banking
Annual fee
£240.00
Part of FSCS or international equivalent Yes
Monthly Fee
£20.00
No Fee Threshold
£50,000 or a Home Purchase Plan Premier customer

Savings Accounts

1 product reviewed

Easy Access Accounts

1 product reviewed

Al Rayan Bank

Everyday Saver (Issue 3)

Feature Value
Interest Rate (AER)
2.75%
Balance Tiers
2.75% from £10000
Minimum Opening Balance
£10,000.00
Withdrawal Penalty
N/A
Part of FSCS Yes
Bonus Rate
N/A