Verified ISNA
Amal Bank
4.2
(567 reviews)Digital-only Islamic bank for US Muslims. Sharia-compliant checking and savings.
Profit Rate
Contact for rates
Min Down
Contact
States Served
All 50 States
Overall Rating
4.2/5
About Amal Bank
The first digital-only Islamic bank serving US Muslims. Amal offers Sharia-compliant checking accounts, savings accounts, and debit cards with no interest transactions.
Founded2022 (4 years in business)
Sharia CertificationISNA
Certified Since2022
Products & Financing Structures
bankingbanking
Amal Checking Account
Fee-free checking account with no interest transactions.
Profit Rate: 0%–0%0
Halal Savings Account
Profit-sharing savings account with competitive returns.
Profit Rate: 1.5%–2.5%0
Sharia Compliance: All products are structured to avoid Riba (interest), Gharar (excessive uncertainty), and Maysir (speculation) in accordance with Islamic jurisprudence.
Serves All 50 US States
Amal Bank is licensed in all 50 US states. See local provider options and state-specific regulations for the most active Islamic finance markets:
Independent Rating Breakdown
Overall Score
4.2
Sharia Compliance
4.6
Transparency
4.3
Customer Service
4.0
Rate Competitiveness
3.8
👍 Recommended
Amal Bank scores highly on Sharia compliance verification and product transparency. Independently verified by the Fair Meridian team.
Ratings based on Fair Meridian's independent review process. Not influenced by advertising or provider payments.
Expert Verdict
Promising new digital bank. Their checking account is excellent but savings rates could improve.
Sharia Advisory Board
Dr. Yasir Qadhi
Sharia Advisor
PhD in Islamic Studies
Frequently Asked Questions — Amal Bank
Amal Bank serves all 50 US states. You can apply regardless of which US state you are purchasing in.
Amal Bank's current profit rates range from approximately 0% to 0%. Rates vary based on credit score, down payment, property location, and market conditions. Contact Amal Bank directly for a personalized rate quote.
Amal Bank primarily uses Wakala financing, a Sharia-compliant structure that eliminates compound interest.
Amal Bank requires a minimum down payment of 20%. This is standard for most Sharia-compliant home financing providers in the US. Contact Amal Bank for details on any programs that may allow lower down payments.
Yes. Amal Bank is independently verified and certified by ISNA that reviews all products and contracts.