Islamic Bank of Britain

Islamic Bank of Britain PLC

Phone: +44 (0)845 6060 786
Fax: +44 (0)121 452 7205

Young Person's Notice Savings Account

Our Young Person's accounts are Sharia compliant allowing you to profit from your savings and stay true to your faith.
Minimum Balance
-An expected profit rate of 1.00% with 90 Days' notice required for withdrawals
-A low minimum opening balance of £20 with no minimum for additional savings
-Anyone can pay money into the account at a branch, by telephone, by post or by setting up regular payments from their own bank.
-Have profit from your IBB account transferred into your child's account.
-No minimum age - you, your family and friends can start saving for your child as soon as they are born, up to the age of 16 years
-Tax efficient way to save. Profits may be paid gross, if the child is eligible.
-Parent or guardian will authorise all withdrawals until the child is 14, subject to special conditions.
-On the young person's 14th birthday the parent or guardian can approve access for the young person to make withdrawals from the account.
-Your money is invested ethically. We only invest in sharia compliant goods and services.



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