{"id":41031,"date":"2026-04-20T09:59:58","date_gmt":"2026-04-20T09:59:58","guid":{"rendered":"https:\/\/daruliftabirmingham.co.uk\/home\/?p=41031"},"modified":"2026-04-20T09:59:58","modified_gmt":"2026-04-20T09:59:58","slug":"ruling-on-fixed-rate-interest-savings-accounts","status":"publish","type":"post","link":"https:\/\/daruliftabirmingham.co.uk\/home\/ruling-on-fixed-rate-interest-savings-accounts\/","title":{"rendered":"Ruling On Fixed-Rate Interest Savings Accounts"},"content":{"rendered":"

Fatwa ID: 08876<\/strong><\/span><\/p>\n

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Written by Alimah Saleha Bukhari Islam<\/span><\/strong><\/p>\n

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Question:<\/strong><\/span><\/p>\n

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Is it halal to put my money in fixed rate saver in bank in HSBC here in England?<\/span><\/p>\n

The fixed interest rate now is 3.5 %<\/span><\/p>\n

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In the name of Allah, the Most Gracious, the Most Merciful<\/strong><\/span><\/p>\n

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Answer:<\/strong><\/span><\/p>\n

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No, it is not permissible. Fixed-rate savings accounts that guarantee a return based on interest fall under riba, which is explicitly forbidden in Islam. Allah \ufdfb clearly states in the Quran:<\/span><\/p>\n

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\u201cThose who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, “Trade is [just] like interest.” But Allah has permitted trade and has forbidden interest. So, whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah. But whoever returns to [dealing in interest or usury] – those are the companions of the Fire; they will abide eternally therein. Allah has permitted trade and forbidden interest.<\/em>\u201d[1]<\/a><\/span><\/p>\n

(Surah al-Baqarah, 2:275)<\/span><\/p>\n

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Receiving a guaranteed increase on capital without risk or business activity is one of the core definitions of riba, and it is prohibited regardless of the rate (3.5% or otherwise) or the intention behind the deposit. Placing money in such an account is not allowed, even if the intention is safekeeping or saving.<\/span><\/p>\n

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Instead, it is advisable to use a Shariah-compliant bank, such as Al Rayan or Gatehouse Bank. If no Islamic bank is available, you may opt for a basic current account (non-interest) only for holding and accessing funds. If interest is earned unintentionally then dispose of it in charity, without seeking reward.<\/span><\/p>\n

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Abu Qatadah reported: The Prophet, \ufdfa, said:<\/span><\/p>\n

\u201cVerily, you will never leave anything for the sake of Allah Almighty but that Allah will replace it with something better for you.<\/em>\u201d[2]<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n

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(Musnad Ahmad 23074)<\/span><\/p>\n

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Abandon what is prohibited, place your trust in Allah, and you will be granted something better and rewarded for your righteousness.<\/span><\/p>\n

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References:<\/span><\/strong><\/p>\n

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[1]<\/a> \u00a0\ufd3f\u0627\u0644\u0651\u064e\u0630\u0650\u064a\u0646\u064e \u064a\u064e\u0623\u0652\u0643\u064f\u0644\u064f\u0648\u0646\u064e \u0627\u0644\u0631\u0651\u0650\u0628\u064e\u0627 \u0644\u064e\u0627 \u064a\u064e\u0642\u064f\u0648\u0645\u064f\u0648\u0646\u064e \u0625\u0650\u0644\u0651\u064e\u0627 \u0643\u064e\u0645\u064e\u0627 \u064a\u064e\u0642\u064f\u0648\u0645\u064f \u0627\u0644\u0651\u064e\u0630\u0650\u064a \u064a\u064e\u062a\u064e\u062e\u064e\u0628\u0651\u064e\u0637\u064f\u0647\u064f \u0627\u0644\u0634\u0651\u064e\u064a\u0652\u0637\u064e\u0627\u0646\u064f \u0645\u0650\u0646\u064e \u0627\u0644\u0652\u0645\u064e\u0633\u0651\u0650 \u06da \u0630\u064e\u0670\u0644\u0650\u0643\u064e \u0628\u0650\u0623\u064e\u0646\u0651\u064e\u0647\u064f\u0645\u0652 \u0642\u064e\u0627\u0644\u064f\u0648\u0627 \u0625\u0650\u0646\u0651\u064e\u0645\u064e\u0627 \u0627\u0644\u0652\u0628\u064e\u064a\u0652\u0639\u064f \u0645\u0650\u062b\u0652\u0644\u064f \u0627\u0644\u0631\u0651\u0650\u0628\u064e\u0627 \u06d7 \u0648\u064e\u0623\u064e\u062d\u064e\u0644\u0651\u064e \u0627\u0644\u0644\u0651\u064e\u0647\u064f \u0627\u0644\u0652\u0628\u064e\u064a\u0652\u0639\u064e \u0648\u064e\u062d\u064e\u0631\u0651\u064e\u0645\u064e \u0627\u0644\u0631\u0651\u0650\u0628\u064e\u0627 \u06da \u0641\u064e\u0645\u064e\u0646 \u062c\u064e\u0627\u0621\u064e\u0647\u064f \u0645\u064e\u0648\u0652\u0639\u0650\u0638\u064e\u0629\u064c \u0645\u0651\u0650\u0646 \u0631\u0651\u064e\u0628\u0651\u0650\u0647\u0650 \u0641\u064e\u0627\u0646\u062a\u064e\u0647\u064e\u0649\u0670 \u0641\u064e\u0644\u064e\u0647\u064f \u0645\u064e\u0627 \u0633\u064e\u0644\u064e\u0641\u064e \u0648\u064e\u0623\u064e\u0645\u0652\u0631\u064f\u0647\u064f \u0625\u0650\u0644\u064e\u0649 \u0627\u0644\u0644\u0651\u064e\u0647\u0650 \u06d6 \u0648\u064e\u0645\u064e\u0646\u0652 \u0639\u064e\u0627\u062f\u064e \u0641\u064e\u0623\u064f\u0648\u0644\u064e\u0670\u0626\u0650\u0643\u064e \u0623\u064e\u0635\u0652\u062d\u064e\u0627\u0628\u064f \u0627\u0644\u0646\u0651\u064e\u0627\u0631\u0650 \u06d6 \u0647\u064f\u0645\u0652 \u0641\u0650\u064a\u0647\u064e\u0627 \u062e\u064e\u0627\u0644\u0650\u062f\u064f\u0648\u0646\u064e\ufd3e<\/span><\/p>\n

[ \u0627\u0644\u0628\u0642\u0631\u0629: 275]<\/span><\/p>\n

[2]<\/a> \u00a0\u0639\u064e\u0646\u0652 \u0623\u064e\u0628\u0650\u064a \u0642\u064e\u062a\u064e\u0627\u062f\u064e\u0629\u064e \u0639\u064e\u0646\u0652 \u0627\u0644\u0646\u064e\u0651\u0628\u0650\u064a\u0650\u0651 \u0635\u064e\u0644\u064e\u0651\u0649 \u0627\u0644\u0644\u064e\u0651\u0647\u064f \u0639\u064e\u0644\u064e\u064a\u0652\u0647\u0650 \u0648\u064e\u0633\u064e\u0644\u064e\u0651\u0645\u064e \u0642\u064e\u0627\u0644\u064e \u0625\u0650\u0646\u0651\u064e\u0643\u064e \u0644\u064e\u0646\u0652 \u062a\u064e\u062f\u064e\u0639\u064e \u0634\u064e\u064a\u0652\u0626\u064b\u0627 \u0644\u0650\u0644\u0651\u064e\u0647\u0650 \u0639\u064e\u0632\u0651\u064e \u0648\u064e\u062c\u064e\u0644\u0651\u064e \u0625\u0650\u0644\u0651\u064e\u0627 \u0628\u064e\u062f\u0651\u064e\u0644\u064e\u0643\u064e \u0627\u0644\u0644\u0651\u064e\u0647\u064f \u0628\u0650\u0647\u0650 \u0645\u064e\u0627 \u0647\u064f\u0648\u064e \u062e\u064e\u064a\u0652\u0631\u064c \u0644\u064e\u0643\u064e \u0645\u0650\u0646\u0652\u0647\u064f<\/span><\/p>\n

23074 \u0645\u0633\u0646\u062f \u0623\u062d\u0645\u062f \u0628\u0646 \u062d\u0646\u0628\u0644<\/span><\/p>\n

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Only Allah (\u0639\u0632 \u0648 \u062c\u0644) knows best.<\/span><\/p>\n

Written by Alimah Saleha Bukhari Islam<\/span><\/p>\n

Checked and approved by Mufti Mohammed Tosir Miah<\/span><\/p>\n

Darul Ifta Birmingham<\/span><\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

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