Mufti Online — Madrasah Ta'leemuddeen

Is profit paid on a savings account by the bank halaal or haraam?

Published as Profits paid by the bank on a savings account

· 28 Dhuʻl-Hijjah 1441 AH1 min readEnglish

Question

Is profit paid on a savings account by the bank halaal or haraam?

Answer

The profits given to you by the bank for the money you deposit into your account will be counted as interest which is haraam and a curse.

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

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/31528
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-31528

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