• Transactions & Dealings >> Interest & Insurance

    Question ID: 54849Country: India

    Title: Helping the elders in getting the interest

    Question: My grandfather and grandmother are residing in a rented house near my house. They have some amount. They wanted to invest the amount in bank and with the interest they aimed to pay the house rent. I explained them about the interest. Still they wanted me to deposit the amount in my name and they asked me to get the interest from the bank and to give them. Shall I do that? If I do that, then I will also come under the category of helping in getting the interest.

    Answer ID: 54849

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1553/1284/B=10/1435) It is not lawful to pay house rent with interest money which one receives from bank after depositing money in the bank. It is like using interest in one’s personal need, whereas it is not lawful to get benefit from interest money. It is wajib to give it in charity to poor and needy ones without the intention of reward. It is not lawful to use it in one’s personal need. Note: You should not support him in this regard. It is not lawful. [N]

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India