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I took a fixed interest loan….


Assalamu Alaykum warahmatullahi wabarakatuhu,

Sheikh ,Please I’m in a mess , I took a fixed interest loan a while a go. I tried to get rid of it, however the bank said to me if you make more than $1000 early payment a year you will be penalised . Please advise me, jazaka llah


Wa Alaikum al-salam

Thanks for your question

Since they don’t allow you, and you don’t have any option, you have to follow their rules, and repent from what you did.

According to the office of Ayatollah Sistani, if the bank is not an Islamic one, then the interest you pay could be in the form of Istinqadh (a payment to get your money).


Sheikh Mahdi Mosayyebi