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Question ID: 27931Country: India

Title: I am un employed , my banker is providing me bank loan of 25 lacks in which a subsidy of 5 lacks is provided. i have to repay only 20 lacks with 7% of intrest i.e. approx 24 lacks 20 thousend in three years. can i use this loan for starting a business.

Question: I am un employed , my banker is providing me bank loan of 25 lacks in which a subsidy of 5 lacks is provided. i have to repay only 20 lacks with 7% of intrest i.e. approx 24 lacks 20 thousend in three years. can i use this loan for starting a business.

Answer ID: 27931Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 2122/B=1726/tb=1431)

If you will not have to pay interest amount separately and the subsidy amount will suffice for the interest of bank, you can invest that loan amount in your business.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: I am un employed , my banker is providing me bank loan of 25 lacks in which a subsidy of 5 lacks is provided. i have to repay only 20 lacks with 7% of intrest i.e. approx 24 lacks 20 thousend in three years. can i use this loan for starting a business.

Question: I am un employed , my banker is providing me bank loan of 25 lacks in which a subsidy of 5 lacks is provided. i have to repay only 20 lacks with 7% of intrest i.e. approx 24 lacks 20 thousend in three years. can i use this loan for starting a business.

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