Saving money in a monthly deposit account
Q: Can we save money in margadarshi like monthly deposit. Is it permissible?
saving scheme
Money saving scheme
Q: Is it permissible to save money like any chit funds, for example 40 months scheme for 40 laks but monthly we pay like 60, 70 etc.?
Interest based saving scheme
Q: My father has passed away and since I have no brother, the only source of income for my mother is the monthly payment that comes against the amount deposited in the saving scheme. As it is an interest based scheme, is it permissible for her to use such earnings for all her needs? She is over sixty.