Frequently Asked Questions about Zakat
What is the Nisab for Zakat?
Nisab is the minimum threshold of wealth a Muslim must own for one lunar year before Zakat becomes obligatory. It is usually calculated as the current market value of 85 grams of Gold or 595 grams of Silver.
How is Zakat calculated on Gold and Silver?
Zakat is due at a rate of 2.5% on the total weight of gold and silver you own, provided it meets the Nisab. This includes jewelry, coins, and bars. If your jewelry is for daily wear, consult a scholar as opinions vary between schools of thought.
Is Zakat due on cash and bank savings?
Yes. Any cash, bank balances, or digital savings that have been in your possession for one full lunar year are subject to Zakat at 2.5%, as long as your total net assets exceed the Nisab value.
How often should I pay Zakat?
Zakat is paid once every lunar (Hijri) year. Most people choose to pay it during the month of Ramadan to maximize the spiritual rewards, but it can be paid at any time once the one-year mark (Hawl) is reached.
Quick Tip: Our calculator uses live market rates to automatically convert the Nisab threshold into your chosen local currency for better accuracy.