QIB (UK) Plc provides products and services in the areas of private banking, Sharia banking, real estate finance. QIB (UK) Plc offers a range of products including current accounts, debit cards, notice accounts, savings accounts, time deposit accounts (1.60 - 1.70 %), wakala deposits, mortgage loans. QIB (UK) Plc makes its solutions available to individuals.
Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).
QIB (UK) Plc offers the following time deposit accounts.
Updated on 20 October 2020
United Kingdom: This product is offered to the United Kingdom's residents only. When clicking on the product link you will be redirected to the product page in English.
Deposit Guarantee. Time deposit accounts made with QIB (UK) Plc are covered by deposit guarantee scheme of the United Kingdom up to 85,000 GBP per depositor.
Withholding Tax. Interest income gained on time deposit accounts by non-residents of the United Kingdom is not taxed. Interest gained on time deposit accounts by residents of the United Kingdom is taxed at 20.00% rate. When the interest is paid, this tax is automatically withhold by QIB (UK) Plc from the time deposit account.