Bank Accounts · Moya Financial
Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit
Co-Founder & CEO, HalalWallet
Facts are re-verified against Moya Financial's published materials; this page updates when the provider's terms, rates, or coverage change.
A Mudarabah profit-sharing term deposit from Toronto credit union Moya Financial: a minimum CAD $5,000 locks in for a 1-, 3-, or 5-year term and earns a pre-agreed share of the profits from Moya's Shariah-compliant mortgage portfolio, built on partner Aya Financial's property financing model. Current indicative rates are 2.65% for 1 year and 2.30% for 3 and 5 years (3.00% and 2.55% for new money moved from another institution), each published alongside its distribution ratio. Available in registered and non-registered accounts, with FSRA deposit insurance of $250,000 on non-registered balances and unlimited coverage in registered accounts.
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What is the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit?
A Mudarabah profit-sharing term deposit from Toronto credit union Moya Financial: a minimum CAD $5,000 locks in for a 1-, 3-, or 5-year term and earns a pre-agreed share of the profits from Moya's Shariah-compliant mortgage portfolio, built on partner Aya Financial's property financing model. 55% for new money moved from another institution), each published alongside its distribution ratio.
- Contract structure: Mudarabah.
- Expected profit: 2.30%-2.65% indicative (up to 3.00% new money).
- Available in Ontario.
- Shariah oversight disclosed: No Public Review.
- Verified against Moya Financial's published materials on 2026-08-05.
Source: HalalWallet (halalwallet.ca)
Key facts
- Structure
- Mudarabah
- Expected profit / APY
- 2.30%-2.65% indicative (up to 3.00% new money)
- Minimum opening deposit
- $5,000
- Availability
- Ontario
- Shariah oversight
- No Public Review
- Shariah board
- No Public Review
- Last verified
- 2026-08-05
Facts are taken from Moya Financial's published product materials and were last verified on 2026-08-05. Fields the provider does not publish are omitted rather than estimated.
Our take
Moya Financial's non-redeemable term deposit is a halal alternative to a locked-in GIC: your money funds Moya's Shariah-compliant mortgage portfolio and you receive a share of the profits at indicative rates it publishes openly on its rates page - currently 2.65% for 1 year and 2.30% for 3 and 5 years, with a bump to 3.00% and 2.55% for money moved from another institution. Understand the trade: distributions are indicative, not guaranteed, there is no early access, the same rate page shows Moya's conventional 1-year GIC paying 3.10%, and Sharia oversight is disclosed through partner Aya Financial rather than on Moya's own site. Fits Ontario savers who can commit funds until maturity and accept a modest halal discount for a deposit-insured, riba-free return.
Strengths
- Shariah-compliant alternative to a conventional interest-bearing GIC
- Indicative rates and profit-sharing ratios are published on moyafinancial.ca/rates
- Higher indicative distribution than the redeemable version in exchange for locking funds
- FSRA deposit insurance: $250,000 non-registered, unlimited in registered accounts
- New-money bonus rates (up to 3.00% on 1-year) for funds transferred from another institution
Watch-outs
- Non-redeemable - funds are locked until maturity with no early access
- Available in Ontario only, with a $5,000 minimum
- Returns are indicative Mudarabah distributions, not guaranteed fixed rates
- Indicative rates run below Moya's own conventional GICs (2.65% vs 3.10% on 1-year) - a measurable cost of the halal structure
- No publicly disclosed Sharia advisory board, named scholar, or third-party certification on Moya's own site
Is the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit halal?
A Mudarabah profit-sharing deposit: you provide capital, Moya invests it in its Shariah-compliant mortgage portfolio, and returns are split per a pre-agreed ratio - a share of real financing profits rather than guaranteed interest. Developed with partner Aya Financial and endorsed by Aya's Islamic Finance Advisory Board, with eligible deposits insured through Ontario's FSRA. The non-redeemable version locks funds for the term in exchange for a higher profit share. Moya publishes the exact distribution ratio behind every rate (70% to 92% of portfolio profit depending on term), which makes the profit split auditable rather than a black box - and makes the trade-off visible: the 1-year Sukuk deposit's 2.65% indicative rate sits below the 3.10% Moya pays on its own conventional 1-year GIC.
Shariah oversight disclosed by Moya Financial
Moya Financial offers financial services described as Sharia-compliant but does not publicly disclose a Sharia advisory board, named scholar, or third-party certification.
HalalWallet reports the Shariah documentation a provider publishes. We do not issue certifications; consult a qualified scholar for a personal ruling.
What you get
- Mudarabah profit-sharing: returns are a pre-agreed share of the profits from Moya's Shariah-compliant mortgage portfolio, built on the Aya Property Financing Model
- $5,000 minimum; 1-, 3-, and 5-year terms with automatic renewal at maturity
- Published indicative rates with full distribution-ratio disclosure: 2.30%-2.65%, or 2.55%-3.00% for new money (August 2026 rate page)
- Available in registered and non-registered accounts
- FSRA deposit insurance: $250,000 non-registered, unlimited in registered accounts
- Early redemption only at Moya's sole discretion - distributions may be forfeited
Cost and terms
$5,000 minimum. Indicative Mudarabah distributions (moyafinancial.ca/rates, August 2026): 1-yr 2.65% (81% distribution ratio), 3-yr 2.30% (70%), 5-yr 2.30% (70%); new money from another institution: 1-yr 3.00%, 3-yr and 5-yr 2.55%. No fees published; early redemption only at Moya's discretion, with distributions potentially forfeited. Comparison point: Moya's conventional 1-yr non-redeemable GIC pays 3.10%. (verified 2026-08-05)
Other Moya Financial products
- Sukuk Shariah Compliant Redeemable Term-Deposit
Bank Accounts · Mudarabah
- Sukuk Shariah Compliant Growing-Rate Term Deposit
Bank Accounts · Mudarabah
Where it's available
Moya Financial lists the Sukuk Shariah Compliant Non-Redeemable Term-Deposit as available in Ontario.
Availability may vary by product and can change; verify with Moya Financial before applying.
Frequently asked questions
Is the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit halal?
A Mudarabah profit-sharing deposit: you provide capital, Moya invests it in its Shariah-compliant mortgage portfolio, and returns are split per a pre-agreed ratio - a share of real financing profits rather than guaranteed interest. Developed with partner Aya Financial and endorsed by Aya's Islamic Finance Advisory Board, with eligible deposits insured through Ontario's FSRA. Contract structure: Mudarabah. Shariah oversight disclosed by Moya Financial: No Public Review. HalalWallet reports what the provider documents; we do not certify products.
How does the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit work?
A Mudarabah profit-sharing term deposit from Toronto credit union Moya Financial: a minimum CAD $5,000 locks in for a 1-, 3-, or 5-year term and earns a pre-agreed share of the profits from Moya's Shariah-compliant mortgage portfolio, built on partner Aya Financial's property financing model. 55% for new money moved from another institution), each published alongside its distribution ratio.
What does the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit cost?
$5,000 minimum. Indicative Mudarabah distributions (moyafinancial.ca/rates, August 2026): 1-yr 2.65% (81% distribution ratio), 3-yr 2.30% (70%), 5-yr 2.30% (70%); new money from another institution: 1-yr 3.00%, 3-yr and 5-yr 2.55%. No fees published; early redemption only at Moya's discretion, with distributions potentially forfeited. Comparison point: Moya's conventional 1-yr non-redeemable GIC pays 3.10%. (verified 2026-08-05)
What are the minimums for the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit?
As published by Moya Financial: minimum opening deposit $5,000. Confirm current requirements with Moya Financial before applying.
Where is the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit available?
Moya Financial lists this product as available in Ontario. Availability can change and may differ by province; verify directly with Moya Financial.
When was this Moya Financial product information last verified?
HalalWallet last verified the Moya Financial Sukuk Shariah Compliant Non-Redeemable Term-Deposit details against Moya Financial's published materials on 2026-08-05. Rates, fees, and availability can change after that date.
How to use this comparison: HalalWallet is an independent educational comparison platform - by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-08-05
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