Question # : 145469
Answer : 145469
Published on: Dec 5, 2016
بسم الله الرحمن الرحيم
(1) You may take 35% of subsidy loan on condition that in view of the fixed interest rate of the loan that you will pay be paying in the name of the interest to the government it should not exceed the 35% of subsidy, rather it is less than it or equal to it. But if it is not so then you may also not take 35% of subsidy loan. In the first case it is possible to interpret that whatsoever you paid in the name of interest was as if you returned the amount of the subsidy to the government, while in the second case, it is fully interest according to Shariah and thus there is no explanation possible.
(2) After all, interest is interest, whether the rate of interest is less or more, it is necessary to avoid it. (Fatawa Darul Uloom Deoband 14: 491, Question: 61, Pub. Maktaba Darul Uloom Deoband); Thus, it shall not be lawful to take the loan with 4% interest. The Messenger of Allah (may peace and blessings of Allah be upon him) has cursed those who take interest and give interest. (Muslim Sharif 2:27, pub. Maktaba Ashrafia Deoband).
Allah knows Best!
Darul Uloom Deoband
I am living here in Godhra and practicing since from last 13 yrs. I was also working in homoeopathic medical college since from last 12 yrs. Now recently appointed as professor in govt.college around 60 k.m. from Godhra now the big question is that i am getting salary around 20000/ twenty thousand rupees p.m.and medical practise is also officialy allowed so per month gaining will be around 40000/ so i have to pay around 45000/ rs. per annum in income tax which will be the best solution for me to save this amount. There are so many ways among them one is house loans (most of my coligue has taken which are non muslims) second is investing money in differnt funds where not a single way is intrestless kindly guide me for the same as such i am badly in need of home near vadodra which is around 30 k.m. from my working place. May god gives you instead of your service. Kindly reply soon.