Read about the Islamic Depositor Plus account
Saving shouldn’t come with compromise. With the Absa Islamic Depositor Plus Account, you can grow your money in a way that aligns with your beliefs. Built on Shari’ah principles, this account replaces interest with a monthly profit share model—so your earnings are ethically sound and financially rewarding.
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Profit Rate
Earn up to 8.10% profit share depending on your balance and digital usage.
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Access to funds
Withdraw anytime. Profits are shared monthly.
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Opening Deposit
Start saving with just R100
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Monthly Fees
Enjoy no monthly management fees with this account.
Tax Implications
While this account is Shari’ah-compliant and based on profit-sharing rather than interest, SARS still treats profit distributions as income for tax purposes. Here’s what to keep in mind:
– Your annual tax-free interest threshold still applies (R23,800 for individuals
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Read about the Islamic Depositor Plus account
Saving shouldn’t come with compromise. With the Absa Islamic Depositor Plus Account, you can grow your money in a way that aligns with your beliefs. Built on Shari’ah principles, this account replaces interest with a monthly profit share model—so your earnings are ethically sound and financially rewarding.
Read More
What you need to apply
- Opening deposit of R100
- Your South African ID
- Proof of residence
(not older than three months)
- Opening deposit of R100
- Valid Passport
- Proof of residence
(not older than three months)
- Work/Resident permit
You can apply now on Buti.co.za, or alternatively, visit the bank’s website to apply through their platforms.
