Al Baraka Bank Al Baraka Participation Account

Al Baraka's core fixed-term investment account, with tenors from 7 to 720 days and minimum deposits that scale by term: R250,000 for 7 days, R50,000 for 35 days, R1,000 for 91, 182 and 365 days, and R10,000 for 720 days. Profit comes from the bank's financing activities conducted on Murabaha, Musharaka and Ijarah contracts and is shared with depositors under the bank's profit distribution model; the actual profit earned each month sets the rate, which the bank publishes monthly. For June 2026 the published annualised rates were 2.024% (7-day), 4.384% (35-day), 4.722% (91-day), 4.890% (182-day), 5.228% (365-day) and 5.564% (720-day). Profits can be paid out or reinvested at maturity, and additional deposits are allowed at maturity. Minors can hold the account through a parent or guardian.

The Participation Account is the benchmark halal term deposit in South Africa mostly because of its honesty: Al Baraka publishes the profit rate actually earned each month for every tenor, a discipline no other local player matches, and the 365-day rate of 5.228% for June 2026 is a real, realised figure rather than marketing. The structure is textbook Mudaraba, which cuts both ways: your return is authentically tied to the bank's financing profits, and your capital sits outside CODI cover, which the bank plainly discloses. Yields are moderate against conventional deposits and against Absa's headline indicative rates, but the R1,000 entry, six tenors and monthly publication make it the most trustworthy and accessible pure-Islamic term product in the country. For a faith-first saver this is the anchor deposit.