Accumulating interest money with the intention of using it later

All types of interest dealings are prohibited in Islam. The hadith has sounded severe warnings for those who have any involvement in interest.

Hazrat Jaabir (radhiyallahu ‘anhu) reports that Rasulullah (sallallahu ‘alaihi wasallam) cursed the one who consumes riba (interest), the one who feeds it to others, the one who records it (i.e. the transaction) and those who are witness to it (i.e. the transaction). Rasulullah (sallallahu ‘alaihi wasallam) also said, “All of them are equal (in the sin of interest).”

The ulama explain that if, one without his intention, receives riba (e.g. from the bank), then he should immediately dispose of it by giving it to the poor without the intention of receiving any reward. If one has to accumulate the interest with the intention of using it at a later stage, then one will be sinful in the court of Allah Ta'ala for accumulating the interest. Therefore, you should immediately dispose of the interest.

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