To celebrate Ramadan, Al Rayan Bank has increased the expected profit rate (EPR) on its instant access cash Isa from 122% GPA (gross per annum) to 135% GPA.
The Isa is available to new and existing customers with a minimum opening balance of £50.
The account allows instant access to money online or through Al Rayan's telephone banking service.
Sultan Choudhury, CEO at Al Rayan Bank, said: “Ramadan is a time of reflection and renewal; as the UK's leading Islamic bank, we want to celebrate this special time with our customers with this new offer.
“We also want to use the time as an opportunity to welcome new customers to the bank.”
Al Rayan offers sharia-compliant banking and currently estimates that over one-third of its customers are not Muslim.
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