Grow-Your-Savings with as little as £100
Our ethical savings accounts have historically awarded up to 4.70% returns annually in a ring-fenced, asset-backed portfolio. We use your money to help people buy their homes debt-free and create genuine social impact.
Make a difference as you Grow-Your-Savings with Pfida.
Make your money make a difference.
We all work hard to earn money, but is it being put to good use? By investing in a Grow-Your-Savings account, you’d be helping people become homeowners without debt, and in return we’ll reward you for your good deed – historically we’ve awarded up to 4.70% annually.
A savings account that brings about positive change.
The benefits of Grow-Your-Savings
Grow-Your-Savings with Pfida.
How does it work?
A question we’re asked all the time, how do you make it work?
- You register and apply for your Grow-Your-Savings product through your account dashboard
- We process and approve your application
- You transfer your initial investment into your account
- Your investment is used only to finance homes
- Homeowners pay rent on the share they do not own – the profit on rental payments help generate your dividend returns
- Your dividend returns are paid into your Grow-Your-Savings account monthly – you get to choose whether you withdraw these returns or whether you automatically reinvest your returns using our handy web account
How does a Grow-Your-Savings account drive social impact?
Traditionally, your savings would usually be sitting in a bank account. The bank would then lend out your money on loans and mortgages, placing people into potentially life-long debt. In return, the bank may pay you a small fixed amount of interest for using your money.
We’re here to create social good, in a way that’s ethical and fair to all. Our Grow-Your-Savings accounts help power Pfida’s Home Provision Scheme, creating a new way for people to own a home interest-free and without debt. Your money goes directly into homes, and you get a direct share of all profits generated from them.
How am I protected?
We use a ring-fenced entity, called Pfida Finance PLC, which owns each property directly. When you invest, you’ll be investing in this entity. This entity will only be used for purchasing properties in the UK.
Funds are deployed after completion, never before
To get to completion, home finance customers go through very thorough checks looking at a number of aspects, such as affordability, payment history and credit checks. We also perform thorough checks on the property too, through valuations and surveys.
These funds are not used to run Pfida as a business
Our mudaraba investment structure has been reviewed and approved by Sheikh Haitham Al-Haddad (Islamic Council of Europe) in his capacity as independent Shariah scholar. It has also been internally scrutinised and approved by Sheikh Salman Hasan, our in-house scholar.
We’d recommend our GYS Home account instead of this account type to ensure you get the most benefit from our services. The GYS Home account has been made specifically to help aspiring homeowners reach their goal sooner, with a higher position on the waiting list for our home finance solution.
Yes, as long as you have a minimum of £50,000 in your GYS Home account, you will be able to open a Grow-Your-Savings account. This is subject to you keeping a minimum of £50,000 in your GYS Home account at all times. Any additional funds over this amount can be used to invest in Grow-Your-Savings, as long as you meet the criteria.
If you have a Grow-Your-Savings account and would like to apply for a GYS Home account to join the priority waiting list, you will need to close your Grow-Your-Savings account. Alternatively, you will need to invest a minimum of £50,000 into your GYS Home account to be able to keep your Grow-Your-Savings account active.
If you are a GYS Home account holder but aren’t looking to buy a home with us, you can close your GYS Home account and move your funds to a Grow-Your-Savings account, as long as you meet the criteria.
Our GYS, GYS+ and GYS Pro accounts work together, so when your balance reaches £5,000, your GYS account will automatically upgrade to a GYS+ account. Similarly, when your balance reaches £30,000, your GYS+ account will automatically upgrade to GYS Pro.