Ask Qul - Business / Investment - Interest bank accounts

in his advice to his son, said, ?O My son, do not let the rooster be smarter than you it rises at dawn seeking forgiveness whilst you sleep!'

Luqman the Wise [as]

Mustadrak al-Wasa'il, v. 12, p. 146, no. 13744

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Ask Qul - QA

Question : #438

Subject:	Interest bank accounts
Question:	If I know that the bank will give me interest even without stipulating the conditions, is it permissible for me to deposit in a savings account that takes the form of a term-deposit?
Answer:	Yes, it is permissible, as long as you do not stipulate the conditions of interest.

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