Answer
It is permissible to use the interest earned from one bank to offset interest charges of the same back only.
And Allah Ta’ala knows best
Mufti E. Desai
Home » Hanafi Fiqh » Askimam.org » Are you allowed to take your interest from your bank account and use it for yourself in this country (Britain)?
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Are you allowed to take your interest from your bank account and use it for yourself in this country (Britain)?
Related Q&A
- I would like to know if I can pay off the interest of my mortgage with interest received from my savings account?
- What can u do if your interest?
- Paying off Interest on a Loan with Interest from a Bank Account
- Can interest earned on the bank account be used to offset bank charges (mainly govt taxes) for that same account or other accounts.
- What is the legal procedure for dealing with interest earned on a bank account of a masjid?
- Is it permissible to use Interest money earned on an account to offset bank charges from the same account?
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