Please enter your username and password to login Username * Forgot your username? TD MySpend. Please select which optional cookies you want on your device: We'd like to set analytics cookies to help us to improve our website by collecting and reporting information on how you use it. Forum. Best Fixed Account Provider COMMENDATION by Moneyfacts Awards, Most Innovative Islamic Current Account in the UK by Islamic Retail Banking Awards, Best Fixed Account Provider by Moneyfacts Awards, Best Savings Bank Provider by Moneyfacts Awards, Best Savings Provider by Savings Champion, Best Islamic Bank in the UK by World Finance, Best Islamic Bank in the UK by Islamic Finance News. Choose from our Chase credit cards to help you buy what you need. It is good to see the ratings agency recognising the Bank's integral place in the Boubyan Group, as well as its important strategic role in building Boubyan's Private Banking and Wealth Management services to clients in the UK and the Middle East.". A bank being Shariah-compliant has no effect on how secure your money is. 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Over the summer, as Covid cases started rising from their midyear lows, it became popular to blame Republicans for fueling the pandemic. Bank of London and The Middle East plc (BLME) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Those opening a Premier Deposit Account (PDA) with BLME can now earn up to 4.60 percent Gross Annually on five of the Banks fixed-term deposits. The cookies collect information in an anonymous form. This means the bank or building society cannot change the interest rate during the term of the bond, which may work well for account holders who can afford to invest long-term, without needing to dip into savings. For more information on how these cookies work please see our Cookies policy page. Eligible deposits with BLME are protected up to a total of 85,000 by the Financial Services Compensation Scheme (FSCS), the UKs deposit protection scheme. If a UK bank or building society has been authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA), your savings will be protected by the Financial Services Compensation Scheme (FSCS). The only restrictions on opening a Sharia-compliant account are those present for all other savings accounts - for instance, you must be able to provide proof of identity and address, make the required minimum initial deposit, and, if applicable, follow the usual cash Isa rules. Shariah-based savings accounts have long offered higher than usual rates to attract UK deposits and offer a great alternative to stagnant high-street rates. The average notice account on the market pays considerably less at 1.41 per cent, according to Moneyfacts, whereas BLME's deal pays 2.52 per cent, considerably above the best easy access savings rates in our tables. > Compare best savings rates in our tables, > Check the best rates from savings platforms, > Sign up to Savings Alerts to get top deals sent to you. We won't set optional cookies unless you enable them. The expression the Group or the BLME Group refers to BLME Holdings plc and its subsidiaries. The registered office is Office 2904, Level 29, Al Fattan Currency House, Dubai International Financial Centre, Dubai, UAE, PO Box 506557 is DFSA Firm Reference Number F0003552. BLME savings account provides rates of up to 3.25% Customers can open a PDA with a minimum deposit amount of 1,000 up to 1 million Press Release June 17, 2022 FINANCIAL SERVICES Bank of London and The Middle East (BLME) is now offering savings rates of over 3% for its retail customers. Company Registration number: 06337638. Insurance. Eligible deposits held with BLME are protected up to a total of 85,000 by the Financial Services Compensation Scheme (FSCS). 12:30 GMT 14 Sep 2022 Get a firmer grip on your finances with the expert tips in our Money newsletter it's free weekly. If you are experiencing any difficulty with the portal on this page, please click here to open in a new window. Apply and access online. With offices in London, Manchester, and Dubai, read our community reviews below to see what people like you think of BLME's services. Bank from almost anywhere by phone, tablet or computer and more than 16,000 ATMs and more than 4,700 branches. By Bret Stephens. Savings Open an award winning fixed term savings account with BLME Read more Card Portal Manage your BLME card online, 24 hours a day, 365 days a year. Features Current Account Deposit Accounts Mortgage Notice Accounts Real Estate Financing Wealth Management Contact Info Bank Website https://www.blme.com/ Email info@blme.com Address 78 Cannon St, London EC4R 2BB, UK Phone 020 7618 0000 About BLME Additionally, BLMEs 90-Day Notice Account rates have been boosted to now see a 2.75 percent Gross, up from 2.50 percent, and 2.78 percent Gross Annual Equivalent Rate (AER). analysed Moneyfacts data in May 2019, there were 35 savings and cash Isa accounts that were registered as being Sharia-compliant. Deals & Shopping. BLME appears on the FCA Register under firm reference number 464292. Unlike Al Rayan which offers a full suite of retail savings accounts, BLME offer just two savings accounts, a Notice Account and a Premium Notice Account, with a minimum opening deposit amount of 10,000 and 25,000 respectively. Already used the Bank of London & The Middle East? Those opening a Premier Deposit Account (PDA) with BLME can now earn up to 4.60 percent Gross Annually on five of the Banks fixed-term deposits. Many countries have similar schemes to cover non-UK banks, but it's best to check before you transfer your money to a foreign bank. The expression the Group or the BLME Group refers to BLME Holdings plc and its subsidiaries. Shorts podcast: how to give well this Christmas, Which? Which? Group products and services. ; Deposit checks: You can deposit checks directly into a savings account if your bank allows it. At a brick-and-mortar bank, you'll often find savings rates closer to the national average, which is currently 0.35%. Using cutting edge technology, the Nomo iPhone app provides a digital-first banking experience for customers in the Middle East with international banking needs. This means someone putting 10,000 into the account could effectively earn a one-year rate of 2.4 per cent. The London-headquartered bank is offering a one-year fixed rate bond paying 3.4 per cent, a five-year fixed bond paying 3.75 per cent and a 90-day notice account paying 2.52 per cent. To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages. For more information on how these cookies work please see our Cookies policy page. Savings . We are an independent, FCA and PRA authorised UK Bank offering unrivalled knowledge and experience of international finance and the Middle Eastern markets. If you receive unexpected correspondence from BLME, please check its validity by contacting us viaemail, or by checking our listed products and services. Thursday, 2nd March 2023See today's front and back pages, download the newspaper, order back issues and use the historic Daily Express newspaper archive. Which? We are an independent Shariaa compliant UK Bank, offering a diverse range of financial products and services in our principal UK and Middle Eastern markets. It was established in 2007 and is based in London. Fraud AlertAt Bank of London and The Middle East (BLME), we have recently been alerted that a fraudulent Bond sale scam has targeted several of our customers and non-customers alike. Its registered company number is 05897786. At BLME, we believe in forging strong, sustainable partnerships based upon sound ethical principles. There are several different types of Islamic savings accounts you can choose from, including: Fixed term deposit accounts which last for a set period of time, normally between six months and five years. BLME cards are issued by Prepaid Financial Services Limited pursuant to a licence from Mastercard International Incorporated. If you go ahead and buy a product using our link, we will receive a commission to help fund our not-for-profit mission and our campaigns work as a champion for the UK consumer. In addition to savings, it offers wealth management services, and commercial finance products. On a 2m deposit, competitors Insignis and Akoni published fee tables quote .125%, whereas Flagstone's quoted fee is .225%.ie 80% higher. best easy access savings rates in our tables, Best savings rates: Top deals from savings platforms. Students. 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