4.33% Gross / 4.35% AER*

4.15% Gross / 4.17% AER* expected profit will be paid by Al Rayan on maturity.

An additional 0.18% Gross / 0.18% AER* boost will be paid by Prosper the week following maturity, to your nominated bank account.

The expected profit rate is agreed at the outset. If for any reason Al Rayan are unable to pay the expected profit rate you will be given the option to close your account early.

At current expected profit rates:

A deposit of £1,000.00 would earn £32.30 after 9 months, for a final balance of £1,032.30

A deposit of £5,000.00 would earn £161.51 after 9 months, for a final balance of £5,161.51

These are illustrative examples and are not based on your individual circumstances, such as the exact number of days in any given period (which may vary). You are required to keep the full amount deposited in the account until the end of the agreed fixed term.

Interest is calculated using the Gross Rate. The AER (Annual Equivalent Rate) reflects the cash amount that would be paid if deposited at the Gross Rate for a one year period, capturing any positive effects of compounding interest.

This account is available to UK residents over the age of 18, with a minimum balance of £1,000.00 and a maximum balance of £1,000,000.00

You can open, view and manage your account directly through Prosper.

Your account will automatically close at the end of the Fixed Term. That means that any funds that you put in this account cannot be withdrawn early and must remain deposited until the Fixed Term is over.

No, not until the end of the agreed Fixed Term. Your funds are locked into the Fixed Term and unavailable for withdrawal until the end of the agreed Fixed Term. At the end of the Fixed Term, your deposited funds plus any expected profit earned will be returned to your account with Prosper. There are no charges for returning your funds at the end of the Fixed Term.

The information provided in this summary box is a summary of the key features of this product.

*AER (Annual Equivalent Rate) illustrates what the expected profit rate would be if expected profit was paid and compounded once a year.

*Expected profit will be paid gross. Gross expected profit does not take into account any tax payable.

Depending on your individual circumstances, you might have to pay tax on any expected profit you earn. If you have any specific tax questions you should seek professional tax advice.

Alternatively, further guidance can be found on the HMRC website, for further information please go to: https://www.gov.uk/apply-tax-free-interest-on-savings. Please note that your tax treatment may be subject to change in the future.

You are protected by FSCS up to a maximum of £85k across all of your eligible Al Rayan accounts. Therefore, this maximum is the total protection for this deposit and any others you may hold with Al Rayan directly.

For all the information you need on FSCS please go to https://www.fscs.org.uk/

Placing funds via Prosper may impact how quickly FSCS can return your deposit to you if Al Rayan should fail. For all information you need on the FSCS repayment timelines please go to https://www.fscs.org.uk/what-we-cover/banks-building-societies/

Prosper Boost Terms and Conditions:

For certain cash savings products, Prosper may apply a boost rate in addition to the quoted interest rate from the cash savings product provider.

To qualify you must have funded the cash savings product within the offer period.

The boost rate is calculated daily and will be paid out on the maturity of your chosen cash savings product. The amount will be paid directly to your nominated bank account.

The boost payment is not treated as interest by HMRC and is instead treated like a cashback reward to open an account with Prosper. These payments are currently not taxable in the hands of the recipients because they are regarded as discounts and have been widely accepted not to be taxable income.

Prosper reserves the right to alter the boost rate at any time.