Calculating zakat on savings: a step-by-step example
AmanaFi team · Updated · 1 min read
To calculate zakat on savings, you add up what you own that is zakatable, subtract short-term debts due, compare with the nisab, then apply 2.5% if the threshold is reached.
Step 1: add up
Count what is zakatable on your due date.
- Cash in accounts and in hand.
- Gold and silver held as a reserve.
- Reliable receivables owed to you.
- Trade goods meant for sale, if you trade.
Step 2: subtract and compare
Subtract debts due in the short term according to the opinion you follow, then compare the net with the nisab. If the net is below it, no zakat is due on money this year.
Step 3: a worked example
Suppose 60,000 DH of cash, 10,000 DH of reliable receivables and 5,000 DH of debts due: the net is 65,000 DH. If the nisab used is 60,000 DH, zakat is 65,000 × 2.5% = 1,625 DH. These figures are fictional; the nisab depends on the gold or silver price on the day of calculation.
Frequently asked
Must I calculate on the exact due date?
Yes, you take the situation at the chosen yearly due date. Note it and keep the same date each year to keep things simple.
Put it into practice with AmanaFi
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