1.80% ISA with IBB

The.Far.Tall.Knight

Thread closed

Hazzanet

1.8% expected profit rate.

Hazzanet

No; they're interest rates which, unless are a fixed rate for a period, are not guaranteed, can change.

Islamic banking works on different principles - they cannot pay 'interest' in the sense that Lloyds and the like will pay, so if their profit comes back at 0.8%, that's all you get. Personally, I see it as a gamble and one that I would be hesitant to take.

Hazzanet

This may help:

http://www.islamic-bank.com/useful-info-tools/videos-animations/islamic-finance-videos/islamic-finance-qa/how-does-expected-profit-work-for-long-term-savings-accounts/

planteria

you can get a better rate than that

grey_gym_sock

The.Far.Tall.Knight wrote: »

I have just noticed that I can shift my ISA savings from a poultry 1% with TSB to IBB (thats the Islamic Bank of Britain) which are offering ...

... halal poultry?

2010

Cash ISA 2% gross variable at the Coventry.

le_loup

The.Far.Tall.Knight wrote: »

I have just noticed that I can shift my ISA savings from a poultry 1%

I'm considering investing in a chicken farm.
What sort of poultry rate should I expect?

2010

le_loup wrote: »

I'm considering investing in a chicken farm.
What sort of poultry rate should I expect?

You should open an account with Egg, now part of Yorkshire B Soc.

https://www.egg.com/