assalaamualaikum, Today i planed to purchse one flat in mumbai cost 20 lakhs,but i could not,becouse need some more mony and only the way to take loan from the bank like 30% loan.Then i refused not to take loan and will purchase after one year with full money without loan.but after one year cost of flat gone to 30 laks and now also same situation as above.so my question is that loan from the bank is possible?becouse rate are going high and high.If i purchase that flat in 20 lakhs with loan then i could gain more flat cost.my monthly salary is around 0ne lakhs ALHAMDULILLAH.Please advise me in light of quran and hadith.
Answer
(Fatwa: 1605/1226=H/1429)
In this condition also, it is haram to take interest-based loan from bank.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband