Transactions & Dealings >> Interest & Insurance

Question ID: 57514Country: India

Title: saving bank interst

Question: I have got some interest money from my saving bank accounts. Can I credit it for some bank deduction (1) Quarterly SMS charges, (2) Annual ATM charges and (3) Inter-branch charges?

Answer ID: 57514Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 164/164/SD=04/1436) The ruling pertaining to interest money is that it should be given in charity to the poor and needy ones without the intention of reward. It is not lawful to derive personal benefit from it. Hence it is not lawful to use the interest money to meet the quarterly SMS charges, annual ATM charges or inter-branch charges.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: saving bank interst

Question: I have got some interest money from my saving bank accounts. Can I credit it for some bank deduction (1) Quarterly SMS charges, (2) Annual ATM charges and (3) Inter-branch charges?

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