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Shari'ah Fixed Deposit
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 8.90%
Indicative profit rate
Zero
Monthly fees
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
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.
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
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
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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.
- 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
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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