Saving acc no interest

wmb194

grumpy_codger said:

wmb194 said:

akkers said:

I want to save an amount every month but I dont want any interest.

Do I just get a current account? Or are there any saving accounts out there that reward you differently without interest coming into it?

Premium Bonds. Deposit up to £50k, pays tax free prizes but no guarantee you'll win.

That's gambling, not allowed by sharia either. Possibly depends on your interpretation - letter of the law or the spirit of the law.
Essentially you gamble your interest.
That said, IMO, many (most?) sharia-complaint accounts simply bend the letter of the law, ignoring the spirit.

The OP wasn't clear on their motivation so I answered the question. The OP will be pleased to know that 'profit' in those 'compliant' accounts is taxed as interest by HMRC and it's declared as such in tax returns.

Olinda99

Probably a current account (as you say) would meet your needs

Bobblehat

akkers said:

As curious as it may seem but I don’t want interest due to religious reasons. I just want a safe place to save with scam/hack protection. If there can be rewards that may be acceptable. 

Would giving any interest to charity/religious orgs be a good compromise?