• Transactions & Dealings >> Interest & Insurance

    Question ID: 50527Country: India

    Title: Interest related question?

    Question: (1) The interest which I get from bank in saving account, where I can give without the intention of reward? (2) If I pay income tax can I give interest amount into that? (3) As we know that bank charges yearly ATM card fees can we leave interest in bank account and same can be debited from account. Please answer the validity of paying interest in above three situations listed.

    Answer ID: 50527

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 365/326/H=03/1435) (1) It should be given to the poor and needy ones without the intention of reward. (2) You may do it. (3) If that interest is deducted in the fees levied for ATM card then it is not allowed.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India