Interest Archives - Page 2 of 363 - IslamQA

A vast repository of Islamic Q&A, provided by Darul Uloom Deoband in India. It’s the official site of the Ifta department of Darul Uloom Deoband.

Provident Fund

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I am an employee working in a PSU company of Govt. of India. Company gives option to employees to keep their provident fund (PF) money for 3 more years after retirement, if they wish. In the event an employee keeps PF money for 3 more years, does he/she shall have to give zakah on the… read more »

Investment and intrest

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I am a central govt employee and paying income tax which is deducted from my salary. (1) I am investing in PPF account in SBI bank and eligible for some return as a interest. (2) I am also investing in society run by our office and it is govt registered society. My query is that,… read more »

The bank account of the masjid has earned some interest. My question is that what is the legal procedure of the said interest?

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The bank account of the masjid has earned some interest. My question is that what is the legal procedure of the said interest? بسم الله الرحمن الرحيم (Fatwa: 1104/954/SD=9/1439)   Interest money should be given in charity to the poor and needy ones without intention of reward whether the interest money is earned from the… read more »

Whether my job is halal or haram

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I need to clarify regarding my work in my company I am technical in charge of a software that carries information and sends to banking systems and get response back and shows details to users, like when you buy things in market – you pay using credit or debit card, the software taking care of… read more »

Intrest from Bank

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I have my current account in Kotak Bank. Normally banks don’t pay interest to current account holders. But Kotak Bank gives an option to receive interest on current account. If I don’t opt they won’t pay. Now with the intention to receive the interest and spend it to the needy people is it right to… read more »

Taking bank loan

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My father is a farmer. They have to marry me. My job is also 20000 rupees. Can we take have some loan from agricultural card? بسم الله الرحمن الرحيم (Fatwa: 835/778/M=7/1439)   When your salary is twenty thousand then why do you need to take bank loan? If you have to pay interest in case… read more »

Use of bank interest

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(1) Can I spend my interest income to poor Muslim or Non Muslim? Will I get reward by that? (2) If I bear a non interest account of a interest based bank and take their discount offer from different product, is it legal in Islam? بسم الله الرحمن الرحيم (Fatwa: 951/778/L=7/1439)   (1) The ruling… read more »