Delaying in paying off a loan until it accrued interest

Submitted by user2 on Sat, 2023-09-16 08:05

Q: I took out student loans to pay for my college education, but I paid all of them off 1 day after the interest started accumulating. I could’ve paid it off sooner, but I had a confusion about when the interest would be adding on. Will my income from my job be haram because I had 1 day of interest in the means of earning that education?

A: If your earnings are acquired in a lawful manner, then it will not be haraam. However, you should sincerely repent for delaying in repaying the loan until it accrued interest.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Loans & Debts›Loans

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