4.89% Gross / 4.89% AER. 

AER is the Annual Equivalent Rate and represents what the profit rate would be if profit was realised and paid once each year.

Profit is calculated daily and is payable on maturity. Profit will be paid gross without prior deduction of tax.

The profit rate applicable to your Fixed Term Deposit is fixed once you fund your Raisin UK Account and Kuwait Finance House PLC approves your application.The profit rate will stay the same throughout the duration of the fixed term. Should Kuwait Finance House PLC amend the profit rate applicable to your Fixed Term Deposit before you have fully transferred funds to your Raisin UK Account, and the amended profit rate is lower than the profit rate you originally ordered, you will have 14 days to cancel your application, and your original deposit amount will be returned to your Transaction Account. We will contact you if this occurs.

The estimated balance after 12 months on a deposit of £1000 is £1,048.90.This projection is for illustrative purposes only and does not take into account individual circumstances.

To open this savings account, you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply, you must

● Be a UK resident who is aged 18 or over

● Hold a UK bank or building society account from which you will fund your application

● Have a valid mobile phone number and email address

● Have a UK National Insurance Number

Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks.

The minimum amount you can deposit is £1000 and the maximum amount you can deposit is £120000 (per product and banking institution).

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms and Conditions.

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except in any exceptional circumstances agreed to by Kuwait Finance House PLC in its absolute discretion. This savings account does NOT operate on the basis that you can end the fixed term of your savings account prematurely and pay a fee to withdraw your funds sooner.

Raisin Platforms Limited (RPL), will administer the deposit on your behalf.

Funds will appear in RPL's account by the following business day from funding your application at the latest. Funds will be remitted to Kuwait Finance House PLC by RPL on the next business day after arriving in the RPL account. It can therefore take up to 2 business days for an ordered product to be set up and start earning profit.

For further information, please refer to clauses 3.5 and 3.6 of the Raisin Trust Terms and Conditions.

Shari’a banking, also known as Islamic banking, covers any financial activity that complies with Shari’a principles, reflecting the belief that exploitative gains, such as earning interest on money, are prohibited. Subsequently, Shari’a savings accounts use the money from deposits to invest and generate a profit, rather than an interest rate. There are no restrictions on who can apply for a Shari’a savings account.