I am from India where every salaried individual gets an interest on his salary account by default. I have accumulated a significant sum of this haram money which I am planning to donate.
I am also saving some money to buy house by paying all upfront and not involving bank. Alahmdullilah, I have reached very near to my goal in savings.
I wanted to know is it permissible for me to draw a bank loan for home such that interest paid by me to bank is equal to the interest bank pays me on my savings account ?
This way the interest that I have accumulated will be returned to its rightful owner (who is bank in this case) and I shall have paid only principal amount for my home.
Please help me in this regard.