Question Summary:
1. A person can keep a sum of money in bank in a special account frozen for a period of a year with rent percentage of for example 5 %…. 2. If a person can keep his money at a bank with 0 % rent, should he choose this rather then take rent and give it thereafter to the poor ?

Question Detail:

Situation 1;
A person can keep a sum of money in bank  in a special account frozen for a period of a year with rent percentage of for example 5 %
A other method is that this person can keep his money in a regular account for a rent percentage for 2,5 %
In this case which rent percentage should the person take, and give it thereafter to the poor ? Is it correct to say take as much as much rent to give it to the poor thereafter ?

Situation 2;
If a person can keep his money at a bank with 0 % rent, should he choose this rather then take rent and give it thereafter to the poor ?

Answer :

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatuh
 
It is not permissible to earn interest on your bank deposits.  Therefore, when a person has an option to deposit his money in an interest-free account, then it is impermissible for him to deposit it in an interest-bearing account [i]. 
 
However, if he does not the option of an interest-free account nor can he safeguard his money elsewhere such that he does not gain interest, then it will be permissible to deposit his money in an interest-bearing account [ii].  In such a case, the permissibility will only be to the extent of the necessity.  Therefore, if one account pays 2.5% interest and another 5%, then he can only deposit his money in the account that pays the lesser amount, i.e. 2.5% [iii].  It is not permissible to take interest with the intention of giving it to the poor, nor is it permissible to take a higher interest rate with this intention [iv].
 
In principle, it is necessary to return the interest money to its original owner [v].  However, if this is not feasible, then one must donate the interest money to the poor without the intention of thawāb [iv]. 
 
[i]
فالعقد فاسد للربا ووجب نقضه لحق الشرع
(شرح المجلة 2/443، أحكام الربا؛ رشيدية)
 
[ii]
(فتاوى محمودية، كتاب البيوع، باب الربا: 16/312-313؛ فاروقية)
 
[iii]
الأصل المعهود في الثابت ضرورة أنه يتقدر بقدر الضرورة
 (بدائع الصنائع، كتاب الاستيلاد: 3/103؛ العربي)
 
[iv]
(فتاوى رحيمية، باب الربا: 9/270؛ الإشاعة)
 
[v]
الواجب حقا للشرع رد عين الربا لو قائما لا رد ضمانه
(البحر الرائق 6/125، باب الربا؛ رشيدية)
 
وإنما الذي يجب حقا للشرع رد عين الربا إن كان قائما لا رد ضمانه
(رد المحتار 5/169، باب الربا، مطلب في الإبراء عن الربا؛ سعيد)
 
And Allah knows best
Wassalamu Alaikum
Ml. Abrar Mirza,
Student Darul Iftaa
Checked and Approved by:
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In'aamiyyah