Product overview

If you would like to earn profit, our Islamic Personal Notice Account offers an expected profit rate on balances for those savers able to offer the required notice in order to access their Shari'ah compliant savings.

UBL UK offers a 90 Day Ameen Islamic Personal Notice Account and withdrawals are free provided the required notice is given. Reduction in profit will apply for withdrawals without the required notice being provided. Start saving from just £1 and make unlimited deposits up to a total of £1,000,000.



Good for

  • Saving in accordance with Shari'ah principles
  • Saving when you will not need immediate access to your money before the end of the notice period
  • Achieving a higher rate of expected profit in return for providing notice to access your money
  • Achieving a higher rate of expected profit and wanting to add additional funds to the Account

Not good if

  • You may need access to your savings before the end of the notice period
  • You wish to make payments from the Account
  • You do not wish to have a reduction in profit for accessing your money before the end of the notice period

In order to withdraw money from the Account, you will be required to provide 90 Days notice. If you need to access your money before the 90 day period you will be subject to reduction in profit as set out in the Ameen Islamic Tariff List.

  • What is the Expected Profit Rate?

    It is a variable expected profit rate, with the rate as at 23.07.2021 shown below:

    90 Day Ameen Islamic Notice Account 0.25%

    Profit Share will be calculated at the Calculation Date and will be paid at the end of each Calculation Period and communicated by email or letter.

    ‘Calculation Date’ means the last working day in each calendar month.

    ‘Calculation Period’ means a monthly period equivalent to a calendar month or any specific number of days or months as mentioned in the account product details. Profit is calculated daily and credited twice a year in June and December in your Islamic Notice Account.

  • Can UBL UK change the profit rate?


    As per Shari'ah guidelines, the profit rate may change from time to time and such changes will be published on our Website.

    The Personal Banking Specific Terms and Conditions explains how expected profit rates can change.

    A two months' notice period will be given for all variable expected profit rate changes.

  • What would the estimated balance be at the end of 12 months based on £1,000 deposit?

    Below is an example of what the future balance may be after profit has been paid.

    90 Day Notice £1,000 0.25%  £1,002.50 

    Assumptions taken for the above calculations:

    • No change in the amount (no deposits, no withdrawals)
    • No change to the variable expected profit rate
    • Profit payment twice a year

    This estimate is for illustrative purposes only and does not take into account individual circumstances.

  • How do I open and manage my account


    You must be:

    • Aged 18 or over
    • Have a UK bank account from which to fund the Account and withdraw money to

    Minimum/Maximum Balance:

    • The minimum profit earning balance is £1
    • The maximum profit earning balance is £1,000,000

    How to open the Account:

    We are currently not accepting new applications for Notice Accounts.

    How to manage the Account:

    • Online and mobile: If you are registered for internet or mobile banking, you can view your account and send secure messages to make instructions.
    • In branch: Visit any of our branches Monday to Friday between 9:30am and 4pm
    • In writing: By post, sending instructions to: FREEPOST: RSSA-GJRS-KBCT, UBL UK Central Operations, 391-393 Stratford Rd, Birmingham B11 4JZ (all written instructions must be countersigned and dated by all named Account holders)
    • Telephone: You can contact our Customer Services Team on 0121 753 6000 Monday to Friday from 9:15am to 5:15pm for support
  • Can I withdraw money?

    Withdrawals can be made by giving the required notice.

    If you wish to withdraw money from your Notice Account without giving us the required Notice Period, or before the expiry of the total Notice Period, please note that this may result in a reduction in the profit as mentioned in the Personal Banking Specific Terms and Conditions providing your money did not incur any losses.

    The relevant reduction in profit when a deposit is withdrawn before maturity and/or required Notice is set out in the table below. You can make a withdrawal request by sending a secure message from internet or mobile banking, or in writing or at a Branch.

    90 Day Notice 50% reduction in total profit calculated

    We will however allow money to be withdrawn or the Account to be closed without reduction in profit in the event of death of the Account holder (or any of the joint Account Holders).

    a) In these circumstances, if there is a request to do so, we will repay the deposit amount and any profit earned up to the date of early withdrawal or closure.

    b) Any surviving Joint Account Holders may request that the investment be continued until the date of maturity.

  • Additional Information

    UBL UK Islamic Accounts are interest free. All money deposited will be maintained and invested in accordance with Shariah rules and requirements. Profits will be distributed to the holders of Islamic Notice Accounts and Islamic Fixed Term Deposit Accounts in accordance with the guidance of the Bank’s Shariah Advisor.

    We (UBL UK and the Depositor) both recognise and agree that the payment and/or receipt of interest are against Shariah principles and consequently this agreement does not involve the payment or receipt of interest. We (UBL UK and the Depositor) both agree with each other that neither of us will in any proceedings against the other, claim interest from the other and we both expressly waive and reject any entitlement to recover interest from the other.

    Our all Islamic Savings Accounts are based on the Islamic financial principle of Murdaraba:

    • A partnership in which one party provides the capital and the other provides the expertise.
    • The capital provider is called the ‘Rabb-al mal’ and the expert is called the ‘Mudarib’.
    • The Mudarib invests the Rabb-al mal’s money to generate profit, which is not guaranteed.
    • The actual profit generated by the Murdarib is shared between both parties according to a pre-agreed ratio.
    • Any loss in the capital is borne by the Rabb-al-mal, except when there is any proven negligence, fraud, and breaching of the agreed Terms and Conditions by Mudarib.
    • It is a Shari’ah requirement that the mechanism for distributing profit must be clearly defined in a way that eliminates uncertainty and any possibility of dispute.

    This account can be held in single or joint names.

    Profit will be paid using the Gross Rate and tax will not be deducted where your profit is exempt.

    Gross rate means we won’t deduct tax from the profit we pay on money in your account. It is your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC) or the relevant Tax Authority.

    AER stands for Annual Equivalent Rate and illustrates what the profit rate would be if profit was paid and compounded once each year. As every advertisement for a savings product which quotes profit rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.


New applications for Personal and Business 90 Day Islamic Notice Accounts are closed from 15.12.20