One has 1,00,000 taka in bank in a saving account. The bank gives him 5000 taka as interest in one year. They deducted 10% of interest, that means 500 taka as “Government tax on interest? They also deducted almost 2000 taka in four installations as “Quarterly Service Charge”. Now there is 1,02,500 taka in his account. My question is that can he use all his 1,00,000 taka for his personal purpose and give 2500 taka to poor? Or should he think the service charge have been cut from his main money, so he can use 98000 for his own purpose, (5000-500)=4500 to poor? Please explain.
Answer
(Fatwa: 1756/L=632/TL=1433)
In the case mentioned above, as much rupees the bank deducts in the name of service charge it should be considered that it has been deducted from capital amount. As these service charges are deducted by bank due to the benefits which the account holder enjoys. If interest money is used in it then it shall imply to use interest money in personal needs and it is unlawful as per the Shariah.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband