Miscellaneous >> Halal & Haram

Question ID: 11742Country: Pakistan

Title: AA We receive house building loans equal to 36 months basic pay salary from university and return it in 120 installments with 4% administrative charges. Is it halal or not?

Question: AA We receive house building loans equal to 36 months basic pay salary from university and return it in 120 installments with 4% administrative charges. Is it halal or not?

Answer ID: 11742Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 472/430=B/1430)

The 4% administrative charge given with 120 instalments is not lawful, it is interest.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: AA We receive house building loans equal to 36 months basic pay salary from university and return it in 120 installments with 4% administrative charges. Is it halal or not?

Question: AA We receive house building loans equal to 36 months basic pay salary from university and return it in 120 installments with 4% administrative charges. Is it halal or not?

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