Savings Accounts which Automatically Receive Interest

Asalamualaykum Mufti,

What is the ruling on putting money into a savings account that automatically receives interest and you can’t cancel it? I have no intention of using the interest and would give it away; I just like putting my money in different accounts, so it looks neater. I wanted to get a Starling account as well as it looked really cool, but I read even their current accounts have an uncancellable interest rate attached to it as well.

Jazakallah Khayr

Wa Alaykum Salaam,

There are many banks which offer non-interest accounts. You should switch over as alternatives are available.

Allah knows best

Jazakallah Khayr! :grinning: