Mufti Online — Madrasah Ta'leemuddeen

Should one take and a loan from a bank to buy a house or continue paying rent?

· 10 Rabiʻ I 1440 AH1 min readEnglish

Question

I am residing in a rented house for the last 3 years and my monthly rent is being paid to a private owner by my organization. In future, I will remain living in the rented house. If I could get a loan from any bank to purchase a house for myself and pay the same monthly rent to the bank against that loan and in this way I shall become the owner of that house in 15-20 years time without affecting my financial liabilities. Is it Halal or Haram way?

Answer

Taking an interest bearing loan from the bank is haraam. Severe warnings have been sounded in the Mubaarak Ahaadith for the person who gets involved in the grave sin of interest.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/27569
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-27569

Related fatawa