Fixed Rate

AlRayan Bank 12 Month Fixed Term Deposit Review

A top-paying one-year fixed rate bond from AlRayan Bank, with a £10,000 minimum deposit. None of the other 70 one-year fixed rate bonds we track pays more.

Fixed rate · 1 year

5.12%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£10,000

Max balance

£1,000,000

Access

At maturity only

Interest paid

Quarterly

How It Stacks Up

Ranks 1st of 71

1-year fixed bonds we track

Top rate
This account 5.12%
UK CPI (Aug 2026)
3.10%
Pays 2.02% more
Average 1-year fixed
4.53%
Pays 0.59% more
Best 1-year fixed
5.12%
About the same

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

A Good Fit For

  • Pro: New and existing savers

Worth Weighing Up

  • Con: Your money is locked in for 1 year
  • Con: You need at least £10,000 to open it

Good to Know

This account is invested in Sharia compliant activities.

Please verify all details with the provider – see our Disclaimer

See all AlRayan Bank accounts

Estimated returns with AlRayan Bank's Fixed Rate

What you could earn with AlRayan Bank's 12 Month Fixed Term Deposit.

Estimated interest

£10,000 saved

£512

At 5.12% AER

£50,000 saved

£2,560

At 5.12% AER

£1,000,000 saved

£51,200

At 5.12% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on AlRayan Bank 12 Month Fixed Term Deposit

Jan WatermannCo-Founder, DepositScout

AlRayan Bank's 12 Month Fixed Term Deposit pays 5.12%, which sits above the market average for fixed-rate accounts across all terms, though it is 0.25% behind the current category leader at 5.37%. The rate beats August 2026 CPI of 3.1% by 2.02%, so your money does grow in real terms. The genuine catch is that you get no access until maturity, so you need to be comfortable locking away between £10,000 and £1,000,000 for the full year. If you want the same rate with a different provider, Close Brothers Savings and Union Bank of India (UK) both offer 5.12% on a one-year fix.

Compare Fixed Rate Bonds

2 alternatives to AlRayan Bank's 12 Month Fixed Term Deposit

Same type of account, closest on rate.

Common questions about the 12 Month Fixed Term Deposit

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