Can I use the interest money to pay my student loan or my utility bills?

09.03.23
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PostedMarch 9, 2023

UpdatedMarch 9, 2023

It is not permissible to pay off your student loan or utility bills with interest money. You cannot use your interest money for any of your personal expenses or spend it on the people you are responsible for Islamically to spend on.

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الَّذِينَ يُنفِقُونَ أَمْوَالَهُم بِاللَّيْلِ وَالنَّهَارِ سِرًّا وَعَلَانِيَةً فَلَهُمْ أَجْرُهُمْ عِندَ رَبِّهِمْ وَلَا خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ

Those who spend their wealth in charity day and night, secretly and openly—their reward is with their Lord, and there will be no fear for them, nor will they grieve.”
– The Holy Quran 2:274

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Can I use the interest money to pay my student loan or my utility bills?

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Leadership

More About IAR

Audiences

Featured

Programs

Al-Iman School

An-Noor Quran Academy

Al-Furqan School

Can I use the interest money to pay my student loan or my utility bills?

Become a part of something more

Subscribe to Our Newsletter

Al-Iman
School

An-Noor
Quran Academy

Al-Furqan
School