Answer
The extra amount on the loan will be interest.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai
Home » Hanafi Fiqh » Askimam.org » If a person borrows money and repays the loan plus extra as fees with no time restrictions, is this still interest?
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If a person borrows money and repays the loan plus extra as fees with no time restrictions, is this still interest?
Related Q&A
- Qurbani and Interest Loan
- Can we use interest received on PPF A/c to pay personal loan interest?
- Can interest money be used to help a friend who has taken home loan to purchase a home?
- Is taking a loan from a private banker with a fixed extra amount lawful?
- Can I use interest to pay for an extra semester of fees?
- Is it permissible to take an educational loan under these circumstances?
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