Transactions & Dealings >> Interest & Insurance

Question # : 168192

India

I have purchased a car on loan and the interest ammount of the car is Rs.1,20,000. My father gave me Rs.1,20,000 which He was saving from the interest amount getting from the bank.
He did not use this interest amount which He was getting from the bank. He told me you can use this Rs. 1,20,000 to pay the interest which is also Rs.1,20,000.
I have purchased a car on loan and the interest amount of the car is Rs. 1,20,000. My father gave me Rs. 1,20,000 which he was saving from the interest amount getting from the bank. He did not use this interest amount which he was getting from the bank. He told me you can use this Rs. 1,20,000 to pay the interest which is also Rs. 1,20,000. Is there any possibility to use this method to pay the interest amount? Are there some other points which we have to keep in mind before using this method?
Is there any possibility to use this method to pay the interest amount? Are there some other points which we have to keep in mind before using this method?

Answer : 168192

Published on: Feb 5, 2019

بسم الله الرحمن الرحيم



(Fatwa: 455/374/D=05/1440)



 



If the interest money with your father is from government bank and the bank to whom you are paying the interest is also government bank, then you may give his interest money to your bank. In short, if both the interests belong to the same bank, or company or person then the interest may be given in due payment.



In the above mentioned case, you will get rid of the evil of the interest based dealing and its use but you shall get the sin of doing interest based dealing which requires taubah and istighfar.




Allah knows Best!


Darul Ifta,
Darul Uloom Deoband

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