Read about the Shari’ah Fixed Deposit account
Looking for a halal way to invest and grow your savings? The Shari’ah Fixed Deposit account is built on the principles of Islamic finance, using a profit-sharing model that ensures your money is invested ethically. With fixed profit rates and terms from 33 days to 60 months, it’s a reliable choice for Muslims who want a risk-free, Shari’ah-compliant savings option. Whether you’re saving
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Indicative Profit Rate
Up to 8.90%.
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Access to funds
At maturity.
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Opening Deposit
Minimum Deposit R1,000.
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Monthly Fees
No monthly management fee.
Tax Implications
Although the Shari’ah Fixed Deposit account does not involve interest (to remain Shari’ah-compliant), profit earned may still be subject to tax depending on your total income. In South Africa, individuals under the age of 65 may receive up to R23,800 of interest and profit per year tax-free, and R34,500
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Read about the Shari’ah Fixed Deposit account
Looking for a halal way to invest and grow your savings? The Shari’ah Fixed Deposit account is built on the principles of Islamic finance, using a profit-sharing model that ensures your money is invested ethically. With fixed profit rates and terms from 33 days to 60 months, it’s a reliable choice for Muslims who want a risk-free, Shari’ah-compliant savings option. Whether you’re saving
Read More
What you need to apply
- Opening deposit of R1,000
- Your South African ID
- Proof of residence
(not older than three months)
- Opening deposit of R1,000
- 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.
