Earn profit while staying true to your values
If you’re looking for a flexible way to save that aligns with Islamic principles, the Shari’ah Call Account offers a smart, ethical way to earn a share of profit on your balance. Whether you’re saving for emergencies or just want a halal place to grow your money, this account gives you full access and peace of mind.
Key Benefits – Why Choose the Shari’ah Call Account?
- Profit-sharing, not interest: This account works on the Mudarabah principle, which means your money is invested in Shari’ah-compliant assets and profits are shared between you and the bank.
- Access your money anytime: There’s no lock-in period or penalties for withdrawals.
- Monthly profit payout: You can choose to receive your profit share monthly into any account you prefer.
- No monthly fees: Keep all your profits—there’s no fee for maintaining the account.
- Tiered profit rates: The more you save, the more you could earn, with indicative rates going up to 6.50% per year.
How Does the Profit Work?
Instead of earning interest, you earn a share of the bank’s profits based on your account balance. Here’s how it works:
- Indicative profit rates are quoted annually.
- Profit is calculated daily on your average balance and paid monthly.
- Profit is shared 50/50 between you and the bank.
- The more you save, the better your rate. For example:
- R0–R9 999 earns 1.50%
- R100 000–R249 999 earns 4.35%
- R5 million and above earns 6.10%–6.50%
Remember: These are indicative rates and may change depending on how the underlying Shari’ah-compliant investments perform. (For the most accurate and up-to-date profit rates, please visit standardbank.co.za)
What You Need to Open This Account
- A minimum deposit of R100 to open the account.
- SA ID or passport (for foreign nationals).
- Proof of residence (not older than 3 months).
- If you’re under 18, you’ll need parent or guardian consent.
Where and How to Apply
You can open this account in a few simple steps:
Via Banking App:
- Open the Standard Bank App
- Go to More > Open a new account
- Tap on Savings and Investment
- Select Shari’ah Personal Call Account
Via Internet Banking:
- Sign into your online banking profile
- Click on Save & Invest > Browse
- Select the Shari’ah Personal Call Account
Fees and Charges
- No monthly account fee
- Cash deposit fees may apply at ATMs or branches
- Free inter-account transfers if you bank with Standard Bank
For a full breakdown of fees, check the official 2025 pricing guide or ask in-branch.
Tax: What You Need to Know
- The profit earned on this account is considered taxable income.
- You’ll receive an IT3(b) tax certificate each year.
- Standard Bank will also report this to SARS.
- If your total interest/profit across all accounts is less than R23,800 per year (under 65), it may be tax-free.
What You Cannot Do With This Account
- You can’t swipe or use this account for card purchases.
- No debit orders or stop orders can be loaded.
- You can’t withdraw directly—you’ll need to transfer funds to a transactional account first.
Is My Money Safe?
- If your balance drops below R100, the account may be closed after 7 days.
- This account does not guarantee capital because it operates under Mudarabah.
- However, when your balance is under the minimum required for Mudarabah, it functions as a Qardh (interest-free loan to the bank), and those funds are covered by CODI, South Africa’s deposit insurance scheme.
Summary – Is the Shari’ah Call Account Right for You?
| ✅ Good for… | 🚫 Not for… |
| Anyone who wants Shari’ah-compliant savings | People who need a swipeable or debit account |
| Earning a monthly profit payout | Those who need card or ATM access directly |
| Saving with no monthly fee | Short-term spenders with irregular balances |
Ready to Apply?
If this account sounds right for you, click the Apply Now button on Buti.co.za to begin your application directly with Standard Bank.
Make sure you have your ID and proof of residence ready. If anything is unclear—like profit rates, fees, or how Mudarabah works—Standard Bank consultants are there to help.
Buti.co.za helps you understand your choices. The next step is yours.