- Transactions & Dealings >> Interest & Insurance
- Total Questions : 349
- Q. Presently i am repaying a personal loan of Rs 5 lac. Total amount including interest is 6.5 lacs.Current outstanding Loan amount is 1.5 lacs and as per the loan statement from bank it consists of 25k interest & 1.25L principal.It means I have already paid 1.25L interest till date.
I just received a refund from my Employee PF account of Rs 3.25 lacs out of which 1.25 lacs is interest earned.
Could i use this interest amount(1.25L) earned to prepay entire 1.5L and close my loan?
1462 views
- Q. Some people use their interest money of banks to pay off bribes to policemen (for traffic fines etc)
Is this permissible according to the Shariah?
3167 views
- Q. CAN I TAKE LOAN FROM BANK . FOR AVOIDING INCOME TAX PAYING .BECAUSE ONE OF MY BROTHER HAS TOLD . TO AVOID PAYING INCOME TAX .U CAN TAKE LOAN FROM BANK. THIRTY LAKH LOAN I HAVE APPLIED .WHAT I WANT TO DO NOW . PLEASE TELL ME.
6009 views
- Q. I already availed home loan. Now Can I pay Home loan interest by saving bank account or Fixed deposit interest?
1618 views
- Q. My name is sania, sir will u please tel me about making insurance policies is legal in islam or not, and if it is legal then will u please tel me only those policies which are legalised by Islam.
1414 views
- Q. I have some money in Bank.Please clarify whether I can pay Income tax to the Govt.from the intrest earned on the said money,If not ,then what to do with that money ?.I do not want to leave it to Bank.I pay zakat as per sharia.
1675 views
- Q. I am govt. servent.please clarify that 1)interest given on GPF is valid or not? If yes how? 2) can I transfer interest money to Income Tax? please explain in the light of fatwa.
3268 views
- Q. Pls inform that if I make a insurance through LIC. and I want to back only my deposited money. Rest I will give to poor/needy person without any intension of reward. But if there any scheme that after my death my nominies (after my death they will be offcourse orphan and needy) will get some money (this will not be my deposited money, this will be only under a scheme after my death). Pls inform if that money will be halal for them or not.
Pls also inform one more thing that can I give the name "Musa" to my child. Is this ok ?
Pls reply as soon as possible.
1171 views
- Q. If i kept some gold items to a jweller for a certain period he charge me interest.in that case can i give my bank interest amount to release my gold items or it is jayez to keep the gold items to a jweller in case of urgent need.
1575 views
- Q. I work in a Software department (IT) in Pune. The company i work for has a business if Insurance in US. I want to know if my earning is Valid (Halaal)?
1480 views
- Q. I am farooq from bangalore i am working for citibank credit card collection can i know this work is jayaz to work?
1311 views
- Q. I was not aware of the prohibition of interest and gravity of its "hurmat". I came to Mumbai from Lucknow and started working in a Call Centre, I did not have my own house so I bought one by taking loan from a Bank. Now I realise the ill effects and evil of interest, I want to sell off that house and get rid of interest. I paid approximately Rs.1,30,000 out of my own pocket and got a loan of Rs.6,80,000, the house cost in all approximately Rs.8,10,000. Now I want to sell off that house, it may fetch around Rs.13 lakhs today. I want to know how much can I keep and how much will be the interest which I should not use. Please let me know out of the sale price how much will be HALAL for me and what percentage will be HARAM for me? Also let me know what could be the possible ways of disposing the HARAM amount.
1187 views
- Q. Please give me guidance about " Is it halaal to take a policy in LIC ? " according to Shariya in Islam. Please give the reference of Quran and Hadith.
1858 views
- Q. i have a pigme account in amanath bank.i took 25000/- from my account but now the banker is telling me that i should not withdraw amount from my account till 9 months are completed,so he is telling me that he has given that amount as loan for 1% is it jayaz or haram.
932 views
- Q. Can i spend the bank interest amount to pay income tax?
2112 views
- Q. At Present I am Working in Pvt Ltd Co As an Accountant. I want to Know about Bank Job. Can Muslim Do Job In Bank or Insruance Company.
1251 views
- Q. I plan to buy a plot. It costs around Rs 150000.00(15 Lacs). But I am not able to arrange the entire amount. I fell short of Rs 5 Lacs to 7 Lacs. By the grace of Almighy ALLAH I have the capacity to pay nearly Rs 15000(15 Thousands per month).Shall I go for Housing loans offered by bank.
1849 views
- Q. salam aly kum,we are running a petrol pump,and for that we require to take over draft from banks.Please advise me that ,can we take bank help for running our business,becoz without that it is not possible for us to run the business smoothly at initial stage?
1062 views
- Q. Please help me on this issue pertaining to interest earned on capital amount in a bank account or any financial Investment Scheme. Particularly, I wish to understand how I may treat such amounts. Having deposited say $100,000.00 into an account for 1 month in a bank which offers 18% interest per annum means that within a month, I am able to receive $1,500.00. Clearly withdrawal of this money for use will be haram. However another scenario may arise whereby the same bank might charge me interest for services it may render to me. Lets say this commission amounts to $650.00; the transactions will thus appear like this: DR CR Bal 01/01/2010 10000 10000 31/01/2010 Int. 500 10500 01/02/2010 Withdr 5000 5500 01/02/2010 Charge 250 5250 Which amount can I use for that charge; the $500 or $250, implying am I going to use the intertest to pay for the bank charge or not? Please kindly give a reply as soon as possible.
1025 views
- Q. Every debt that brings some profit is interest
1021 views