Questions tagged [loan]

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Need loan to expland business operation

I am running a business and I would like to take loan from a bank to buy larger property for business expansion. The property reamins with bank as collateral until debt is paid off. Bank asks for 10%...
2
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0answers
139 views

Is a UK university student loan riba, and if so, is it “necessary” if I have no other means to pay for education or to provide for my family?

I’ve heard student loans deemed as Ribaa. However, for a UK university student loan, the conditions are documented: How much you repay You pay back 9% of your income over the minimum amount ...
2
votes
0answers
101 views

Can the sum of already-contracted future debt be deducted from zakat due now?

I have paid a deposit to buy a home and an agreement of sales and purchase has been signed. But the full amount is to be paid next month and I'm calculating my zakat this month. Question: Can a ...
1
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0answers
23 views

Can I use interest earned from savings account to pay interest on home loan

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 ...
1
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1answer
2k views

Can we perform hajj or umrah with loan money?

I am not having money to perform my ummrah I have taken some money from my elder sister as a loan and I know that i could return her later. So is this allowed in Islam or should we have our own money?