Ask Qul - Business / Investment - Interest bank accounts

The most abstemious of people is he who renounces the prohibited things.'

Prophet Muhammad al-Mustafa [sawa]

Amali al-Saduq, p. 72, no. 41

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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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