Ruling pertaining interest money on saving bank account

Answered according to Hanafi Fiqh by
I have a salary account which is now turned as savings account and at present I am unemployed. I have some money in that account from which bank gives me some interest. I am giving the interest money to poor without any intension of reward. Is it ok? Or my whole food and main capital money become Haram? Please reply me as I am very anxious and really fearing for Allah’s wreath.

بسم الله الرحمن الرحيم

(Fatwa: 26/46/D=1/1438)

The ruling pertaining interest money is that it should be given in charity to the poor and needy ones without the intention of reward. You did the same. Your food or income is neither haram nor there is any problem in it. However it is makrooh to open saving account unnecessarily, but it is lawful at the time of need or due to business purpose or for the intention of safety and in such cases it is allowed to open the saving account.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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