Zakat on Bank Accounts

Include all accessible balances in checking and savings accounts.

Use the Zakat Calculator

Bank accounts are fully zakatable if you have access to the funds. This includes checking, savings, and most short-term deposits.

Quick answer

  • Use the account balance on your Zakat due date.
  • Include balances in all banks and credit unions.
  • Exclude non-halal interest from Zakat calculations.

How to calculate

  1. List all account balances on your Zakat date.
  2. Convert foreign accounts to your base currency.
  3. Subtract interest that should be purified separately.
  4. Add balances to other zakatable assets.
  5. Pay 2.5% if above Nisab.

Common mistakes

  • Forgetting joint accounts you control.
  • Mixing business and personal accounts without separating.
  • Including interest income in the zakatable total.
Calculate bank account Zakat with the calculator.

FAQ

Are locked term deposits zakatable?

If you can access them within the year, include the balance.

What about joint accounts?

Include the portion you own or control.

Does an overdraft reduce Zakat?

Short-term debts may reduce your net total. See the debts guide.

Related guides

Zakat on Cash and Savings

Include all cash on hand, savings, and digital balances in Zakat.

Zakat on Debts and Loans

Learn which debts reduce your net Zakatable wealth.

How to Calculate Zakat

A simple step-by-step guide for calculating your Zakat.

Zakat in Canada

Calculate Zakat in Canadian dollars and include local assets.

More resources: FAQ and About Zakat.