A comparison of fixed deposit rates offered in UK Pounds (GBP Sterling) by UK based Islamic Banks, and Conventional Banks shows the Islamic Banks offering better rates.

Al Rayan Bank (formerly known as Islamic Bank of Britain) is offering an industry best profit rate of 1.90% for a one year fixed deposit, whilst the conventional arm of HSBC is offering a lowly 1.00%. Al Rayan Bank and HSBC both enjoy the same level of consumer protection with deposits being covered by the Financial Services Compensation Scheme for up to £85,000 per account.