Transactions & Dealings >> Interest & Insurance

Question ID: 45579Country: India

Title: Use of Interest received from bank, Govt.

Question: My daughter got loan from bank for purchasing a house and paying interest on loan. My question is whether I can give money from my income of interest which I received from bank/NSSC to my daughter for making interest payment of her loan.

Answer ID: 45579Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 789/622/H=1434) It is haram to take and give interest based loan. However, it is allowable if you give the interest which you have received from the bank to pay the due interest incurred on your daughter.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Use of Interest received from bank, Govt.

Question: My daughter got loan from bank for purchasing a house and paying interest on loan. My question is whether I can give money from my income of interest which I received from bank/NSSC to my daughter for making interest payment of her loan.

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