Do You Pay Zakat on Savings Accounts?
Yes, savings accounts are zakatable. Whether the account earns interest or not, the balance is included in your Zakat calculation.
Money in a savings account counts as zakatable wealth. It does not matter if the account is earning interest (which is prohibited in Islam). The balance itself is zakatable.
Why Savings Are Zakatable
Savings are owned wealth.
Zakat is due on wealth you own and control. Money in a savings account meets both criteria. Even if you are saving for a specific purpose like a house deposit or wedding, it is still zakatable if held above nisab for one year.
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Common Mistake
Include all savings accounts in your calculation.
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