assalamualaikum respected sir,i have a pigme account in amanath bank.i took 25000/- from my account but now the banker is telling me that i should not withdraw amount from my account till 9 months are completed,so he is telling me that he has given that amount as loan for 1% is it jayaz or haram.
Answer:
(Fatwa: 693/494/L=1431)
Giving loan on interest is unlawful and haram though the rate of interest is only one percent.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband