UIF Deposit Account
Halal Bank Accounts in Minnesota
A deposit account lets you keep money for everyday use like receiving income, paying bills, or making transfers — without earning interest.
UIF's time deposit account provides Shariah-compliant banking with FDIC insurance protection. There is no monthly maintenance fee. Best suited for: Everyday banking.
Pros
- Available nationwide in all 50 states
- FDIC insured up to $250,000 per depositor
- No monthly maintenance fee
- Mobile app available for account management
- Full online banking capabilities
Open Account
Visit UIF's website to learn more and get started.
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Product Details
Account Type
Time Deposit Account
Monthly Fee
$0
Min Deposit
$100
Structure
Profit-sharing
UIF in Minnesota
UIF's Time Deposit Account is available in Minnesota, backed by FDIC insurance up to $250,000 per depositor. There is no monthly maintenance fee on this account. Mobile banking is available for on-the-go account management. Minnesota is home to an estimated ~115K Muslims (2% of the population) (World Population Review, 2020 estimates). UIF operates nationwide, so Minnesota residents have full access to this product.
Shariah Compliance & Oversight
Operates as a dedicated Islamic finance provider whose activities are overseen by a formal, independent Sharia Supervisory Board and aligned with recognized Islamic finance standards.
Sharia Supervisory Board chaired by Sheikh Nizam Yaquby. Board reviews/approves UIF programs; fatwas + audits published.
2026-02
State Availability
UIF serves all 50 states + DC
✓ Available nationwide including Minnesota
Open Account — UIF
Visit UIF's website to get current terms, check eligibility for Minnesota, and get started today.
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Compare With Other Options in Minnesota
6 other bank accounts products available to Minnesota residents
Frequently Asked Questions
What is UIF Deposit Account?
What Shariah oversight does UIF Deposit Account have?
Is UIF Deposit Account available in Minnesota?
What Shariah oversight does UIF have?
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Does Minnesota tax halal investment returns?
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Average score: 63/100
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Co-Founder, HalalWallet
Important: HalalWallet is an educational comparison platform. We do not provide financial, legal, or religious advice.
Product structures and Shariah-compliance oversight vary by provider. Before applying:
- Verify halal compliance directly with the provider.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Consult a qualified Islamic finance advisor or scholar for guidance on your individual circumstances.