Assalam alikum, Please Help Me Out. I did a shopping of rs. 50000/ with credit card, later on i converted that amount as EMI for 3 months, it is 0% interest (Interest free), and service charge of 2%. Is this legal? Jazakallah!
Answer
(Fatwa: 1245/258=TL/1430)
You are allowed to purchase if you have not to give interest while paying the price. The service charge deducted by the bank is lawful. Nevertheless, you can do shopping through credit card if you are not asked to pay interest.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband