4.45% AER / Gross (this savings account offers expected profit rather than interest as it follows Shari’a principles).

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

Profit is calculated annually and re-invested for deposits that are longer than one year. Profit is payable on maturity at the end of the fixed term. Profit will be paid gross of UK income tax which means that there will be no income tax deductions from the profit payments you receive on your QIB (UK) deposit.

The rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term. Should the bank amend the rate advertised before you have fully transferred funds and the rate is lower than the 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.

Separately, in the unlikely event that the advertised expected profit rate will not be met, (after you have opened your savings account), Raisin UK will contact you advising of the new expected profit rate. You will then have the option to accept the new expected profit rate or terminate this agreement immediately upon which QIB (UK) will return to you the original deposit with the accrued profit up to that date.

Please also see Clause 5.2 of QIB (UK)'s Term Deposit Conditions for further information regarding when QIB(UK) may change the expected profit rate.

‘Make Good’ Offer’

If your original deposit amount returns a loss, QIB (UK) shall make good the amount of any shortfall that you may have suffered. You shall therefore be entitled to receive payment from QIB (UK) of the full amount that you had previously deposited. Note that there is no requirement for QIB (UK) to pay any form of profit to you under this "'Make Good' Offer".

We would like to draw your attention to the guidance offered by the QIB (UK) Shari’a Supervisory Board. The guidance is that if QIB (UK) needs to make good the amount of any shortfall (set out above), this will not comply with Shari’a principles.

The estimated balance after 12 months on a deposit of £1000 is £1,044.50. 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 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).

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 & Conditions.

Please ensure you have read all sets of Terms and Conditions (QIB Term Deposit Conditions, Raisin UK Terms & Conditions and Raisin Trust Raisin UK Deposit Terms and Conditions) before applying for this product. If you have any queries relating to any of the Terms and Conditions, please contact Raisin UK through your Raisin UK Account.

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except if an account holder dies or becomes bankrupt. 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 QIB 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.