Question

Paying Zakat on money saved to buy a car

304

Question

I saved some money to buy a car. I didn't find a suitable car yet. Still I am looking for a car. The money is in bank account at present. So should I pay Zakah for this money?

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Ruling on Using Fundraising Proceeds for Event Expenses

The entrusted does not guarantee damage unless he has transgressed or was negligent

Wants to Give Zakat Money to His Indebted Brother

Giving Zakat to People Affected by Natural Disasters Such as Earthquake, Flood, and Fire

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The Money of Zakat Is Paid Out to Its Beneficiaries in Cash

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Accepted Answer

Praise be to Allah, the Lord of the World; and blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions.
If the money you mentioned reaches the Nisaab (the equivalent of 85 grams of gold) and if it stays with you (in your account or else) for a whole lunar year, then you should pay its Zakah. You can consult a bank for the current price of gold to calculate how much you owe.
In fact, your intention to buy a car does not influence the rule of the obligation of Zakah.
Allah knows best.

Fatwa

Paying Zakat on money saved to buy a car

Question

Answer

Related Fatwa

Ruling on Using Fundraising Proceeds for Event Expenses

The entrusted does not guarantee damage unless he has transgressed or was negligent

Wants to Give Zakat Money to His Indebted Brother

Giving Zakat to People Affected by Natural Disasters Such as Earthquake, Flood, and Fire

Zakat on Purchased Property

The Money of Zakat Is Paid Out to Its Beneficiaries in Cash

No Zakaah on money in possession less than lunar year

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