Transactions & Dealings >> Interest & Insurance

Question ID: 36567Country: India

Title: Currently I am living in rented house and we have a land and planning to build the house for our use. Can we take the house loan for the same

Question: Currently I am living in rented house and we have a land and planning to build the house for our use. Can we take the house loan for the same? There is income tax benefit for housing loan and can we avail this?

Answer ID: 36567Posted on: Aug 29, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 288/288/M=1433) One has to pay interest in case of receiving home loan and hadith curses doing interest based dealing. Hence one should avoid taking interest based loan without exigent need.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Currently I am living in rented house and we have a land and planning to build the house for our use. Can we take the house loan for the same

Question: Currently I am living in rented house and we have a land and planning to build the house for our use. Can we take the house loan for the same? There is income tax benefit for housing loan and can we avail this?

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