Personal Shariah-Compliant Profit-Sharing Savings Accounts

UIF through University Bank is pleased to offer the first Shariah-compliant, FDIC-insured profit-sharing savings accounts (also called deposit accounts) to assist consumers who seek a Shariah-permissible yield on their deposits. We offer personal savings accounts through our Money Market Deposit Accounts and Certificates of Deposit programs. Both give you easy, regular access to your funds via Internet or phone banking, ATMs and checks. These accounts fund and track profits on UIF’s Shariah-compliant portfolio of assets. Read more about how Profit-Sharing Accounts work or visit our Savings FAQ page.

Money Market Deposit Accounts

The Money Market Deposit Account is a special type of savings account with limited checking and withdrawal capabilities. This account gives you easy, regular access to your funds.

*Statement cycles run from the 15th of the current month to the 14th of the following month.

One-, Two- and Five-Year Certificates of Deposit

UIF, through University Bank, offers you Shariah-compliant Certificates of Deposit based on our profit-sharing program. The CDs are available with one-, two- and five-year maturity dates and earnings, if any, change monthly and are paid quarterly on the anniversary of the CD opening date.

  • Minimum balance to open an account is $500
  • Balances are FDIC-insured up to $250,000
  • One-, Two- or Five-Year maturity dates
  • A penalty may be imposed for early withdrawal

Questions?

To find out more about our Deposit Savings Accounts,visit our Savings FAQ page.