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  • janusdesign
    janusdesign Posts: 976 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    Expotter said:
    Al Rayan Everyday Saver Issue 3 instant access 1.8%, min £5k, interest (profit) paid monthly.
    out of interest, do Al Rayan accept initial test deposits of £1, or do they literally need to be £5k ?
    They did take test deposits - but that was a while back. You could also go below £5k without effecting interest rate.
    thanks for replying - just to confirm that I opened an account today and funded with a test £1 deposit (via transfer) - it was accepted quickly without issue.
  • Bigwheels1111
    Bigwheels1111 Posts: 3,038 Forumite
    1,000 Posts Third Anniversary Name Dropper
    I regret not leaving £1 in YBS, as not able to access 5% regular saver.
  • kaMelo
    kaMelo Posts: 2,859 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    edited 2 August 2022 at 11:27PM
    I regret not leaving £1 in YBS, as not able to access 5% regular saver.
    I leaned that mistake with YBS the last time they offered the regular saver a while back.
    Cue new easy access accounts at many building societies on the off chance they come up with some form of members exclusive at some point.
    It felt a little like the carpet bagging days of the 80's. 
  • typistretired
    typistretired Posts: 2,099 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Great always liked Marcus except at weekends. Good to have such a lot of choice of savings
    "Look after your pennies and your pounds will look after themselves"
  • Olinda99
    Olinda99 Posts: 2,042 Forumite
    1,000 Posts Third Anniversary Name Dropper
    Only laggard now is Atom
  • Daliah
    Daliah Posts: 3,792 Forumite
    1,000 Posts First Anniversary Photogenic Name Dropper
    The latest MSE newsletter, and the Top Savings accounts article, hasn't spotted the 1.8% Al Rayan account yet. May be it's because of the min £5k opening deposit? Thank goodness for the combined knowledge of this forum.
  • Molehusband
    Molehusband Posts: 265 Forumite
    100 Posts Second Anniversary Name Dropper Photogenic
    edited 3 August 2022 at 10:23AM
    Daliah said:
    The latest MSE newsletter, and the Top Savings accounts article, hasn't spotted the 1.8% Al Rayan account yet. May be it's because of the min £5k opening deposit? Thank goodness for the combined knowledge of this forum.
    Maybe it could also be the fact that Al Rayan doesn't pay "interest" unlike everyone else, but Sharia compliant "Expected profit rate" (EPR) which is not guaranteed?
    Reginald Molehusband






  • RG2015
    RG2015 Posts: 6,054 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 3 August 2022 at 10:36AM
    Daliah said:
    The latest MSE newsletter, and the Top Savings accounts article, hasn't spotted the 1.8% Al Rayan account yet. May be it's because of the min £5k opening deposit? Thank goodness for the combined knowledge of this forum.
    Al Rayan is in the Top Savings list at 1.80% in the Ways to boost your interest, non standard section.

    https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/
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