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ISA interest help
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So conventional banks and building societies don't want your ISA money, and they don't particularly want your savings either, while Sharia-compliant providers find ISA money equally unpalatable but are more partial to unwrapped savings.Reed_Richards wrote: »The only institution (that I can find) that offers Sharia-compliant ISAs is Al Rayan Bank and whilst they offer 2.17% on a 1-year fixed term deposit, their 1-year ISA offers a meagre 1.6%. So the reason the difference is 20% and not 10% is that the Sharia-compliant premium does not apply to ISAs.
I suppose it's not a surprise these Sharia-compliant providers penalise people for the hassle of them being an ISA manager.0
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