For all income earners who would like a Shari’ah approved fixed deposit account at competitive profit share returns. Based on the Mudarabah principle, our Islamic Term Deposit account is also suitable for non-profit charities and Islamic organisations seeking above average profit share.

Allows for personal management

Our Islamic Term Deposits have varying terms and profit sharing ratios, allowing for personal management and control.

Safe
investment

Our Islamic Term Deposits provide a safe and stable option of investment for all market segments.

Pre-agreed profit sharing ratios

You have the opportunity to know your profit sharing ratios beforehand when you open an Islamic Term Deposit account.

Do international transfers

Our Islamic Term Deposit account allows you to do international bank account transfers.

How to get it and what you can expect:

Features
  • Fully Shari'ah-compliant
  • No hidden costs or monthly fees
  • For individuals or businesses
  • Minimum deposit of R1 000 to open the account
  • Investment periods from 30 days up to 5 years
  • No deposit and admin fees
  • Early withdrawals attract an administration fee
Advantages of Islamic Term Deposits
  • Various investment accounts with varying terms and profit share, allowing for personal management and control
  • Safe and stable option of investment for all market segments
  • Profit share ratio pre-determined based on term and rand value of the deposit
  • Profit share is paid at maturity or if early redemption is required
  • Do international bank account transfers, as permitted by the Foreign Exchange rules and regulations
  • Additional profit share may be offered for large investments
  • You can have many Islamic Term Deposit accounts - you could open one each month in order to receive a monthly profit share payment
  • When the investment matures, you can reinvest the Islamic Term Deposit using Absa Online
contact

Need more help?

Let one of our consultants assist you.

If you’re an existing customer:

Contact your Relationship Executive or your Enterprise Banker, or log on to Absa Online and click on the Save and Invest tab.

If you’re a new customer or you don’t bank with us:

Call us on:

0860 040 302

Email us at:

islamicbanking@absa.co.za