Transactions & Dealings >> Interest & Insurance
Question ID: 56717Country: India
Answer ID: 56717
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 120/117/B=02/1436) The extra amount which you will pay while paying the instalment shall be interest as per the Shariah. However, it shall be lawful in this way that you buy the car with the total amount of the car and the payment along with the total amount of interest whatsoever it may be and then you pay it in instalment. Thus you shall be saved from interest.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India