Bank Accounts · Moya Financial
Moya Financial Sukuk Shariah Compliant 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.
The liquid option in Moya Financial's Sukuk lineup: a 1-year (365-day) Mudarabah term deposit that can be redeemed in part or in full any time on or after day 90 with no distribution penalty - redeem within the first 89 days and nothing is paid. A minimum $5,000 earns an indicative 1.75% (2.20% for new money from another institution), published with its distribution ratio (54% and 67%) on Moya's rates page. Returns are a share of profits from Moya's Shariah-compliant mortgage portfolio rather than guaranteed interest. Non-registered accounts only, with FSRA deposit insurance up to $250,000.
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What is the Moya Financial Sukuk Shariah Compliant Redeemable Term-Deposit?
The liquid option in Moya Financial's Sukuk lineup: a 1-year (365-day) Mudarabah term deposit that can be redeemed in part or in full any time on or after day 90 with no distribution penalty - redeem within the first 89 days and nothing is paid. 20% for new money from another institution), published with its distribution ratio (54% and 67%) on Moya's rates page.
- Contract structure: Mudarabah.
- Expected profit: 1.75% indicative (2.20% 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
- 1.75% indicative (2.20% 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 redeemable term deposit pairs a Shariah-compliant profit share with the flexibility to access funds after 90 days - a rarity among term savings products of any kind. The current indicative rate is 1.75% (2.20% for new money), published openly on Moya's rates page alongside the exact distribution ratio, and the cost of that liquidity is clear: the locked-in 1-year version pays 2.65%. Rates are indicative Mudarabah distributions, not guarantees, non-registered accounts only, and Sharia oversight is disclosed through partner Aya Financial rather than on Moya's own site. Best for Ontario savers who want a halal, deposit-insured return without giving up access to their money.
Strengths
- Shariah-compliant alternative to a conventional interest-bearing GIC
- Indicative rates and profit-sharing ratios are published on moyafinancial.ca/rates
- Redeemable in part or full after 90 days with no distribution penalty
- FSRA deposit insurance up to $250,000
- New-money rate bump to 2.20% for funds transferred from another institution
Watch-outs
- Available in Ontario only
- Returns are indicative Mudarabah distributions, not guaranteed fixed rates
- Non-registered accounts only - no TFSA or RRSP option
- Redeeming before day 90 forfeits all distributions
- No publicly disclosed Sharia advisory board, named scholar, or third-party certification on Moya's own site
Is the Moya Financial Sukuk Shariah Compliant 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 redeemable version allows early access to funds on or after day 90. The published distribution ratio (54%, or 67% for new money) makes the profit split auditable, and the liquidity costs you yield: 1.75% indicative versus 2.65% on the non-redeemable 1-year - the price of keeping the exit open.
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 on a 1-year (365-day) term
- Redeemable in part or full on or after 90 days with no distribution penalty; nothing is paid if redeemed within 89 days
- Published indicative rates with distribution-ratio disclosure: 1.75%, or 2.20% for new money (August 2026 rate page)
- Non-registered accounts only
- FSRA deposit insurance up to $250,000
Cost and terms
$5,000 minimum, 1-year (365-day) term, non-registered accounts only. Indicative Mudarabah distribution (moyafinancial.ca/rates, August 2026): 1.75% (54% distribution ratio), or 2.20% (67%) for new money from another institution. Redeemable in part or full on or after day 90 with no distribution penalty; redeem within 89 days and nothing is paid. No fees published. Comparison: Moya's conventional 1-yr redeemable GIC pays 2.00% (2.45% promotional). (verified 2026-08-05)
Other Moya Financial products
- Sukuk Shariah Compliant Non-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 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 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 Redeemable Term-Deposit work?
The liquid option in Moya Financial's Sukuk lineup: a 1-year (365-day) Mudarabah term deposit that can be redeemed in part or in full any time on or after day 90 with no distribution penalty - redeem within the first 89 days and nothing is paid. 20% for new money from another institution), published with its distribution ratio (54% and 67%) on Moya's rates page. Returns are a share of profits from Moya's Shariah-compliant mortgage portfolio rather than guaranteed interest.
What does the Moya Financial Sukuk Shariah Compliant Redeemable Term-Deposit cost?
$5,000 minimum, 1-year (365-day) term, non-registered accounts only. Indicative Mudarabah distribution (moyafinancial.ca/rates, August 2026): 1.75% (54% distribution ratio), or 2.20% (67%) for new money from another institution. Redeemable in part or full on or after day 90 with no distribution penalty; redeem within 89 days and nothing is paid. No fees published. Comparison: Moya's conventional 1-yr redeemable GIC pays 2.00% (2.45% promotional). (verified 2026-08-05)
What are the minimums for the Moya Financial Sukuk Shariah Compliant 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 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 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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