Transactions & Dealings >> Interest & Insurance

Question ID: 51651Country: India

Title: intrest

Question: Is it halal for me to use the interest money to pay the interest of my bank loans which I am getting from bank against fixed deposit?

Answer ID: 51651Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 544/L-178/TL=05/1435) It is allowed to pay the interest money with interest provided both are government banks or private but the owners are same. It is not lawful to pay interest money in exchange to basic loan. It should be noted that it is haram to take interest based loan without a severe need which is not allowed as per the Shariah. Note: Fixed deposit is also haram.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: intrest

Question: Is it halal for me to use the interest money to pay the interest of my bank loans which I am getting from bank against fixed deposit?

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