Prayers & Duties >> Zakat & Charity

Question ID: 153346Country: INDIA

Title: Zakat on recurring deposit (RD)

Question: Opened a recurring deposit account (RD) to deposit a fixed amount every month (eg Rs 1000). After the end 12 months, how much the amount has to given for zakah?

Answer ID: 153346Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 1267/1276/H=12/1438)

You will have to pay 300 rupees as zakah on 12000 rupees. However, zakah is paid as per lunar calendar. Thus, mark the day of the lunar date on which you became sahib-e-nisab and pay your zakah on the same date each year.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Zakat on recurring deposit (RD)

Question: Opened a recurring deposit account (RD) to deposit a fixed amount every month (eg Rs 1000). After the end 12 months, how much the amount has to given for zakah?

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