General Islamic Matter - Question about personal loan from bank

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Question about personal loan from bank

Printed From: IslamiCity.org
Category: Religion - Islam
Forum Name: General Islamic Matter
Forum Description: Discuss Islamic matters/issues that not covered by other sub catagories
URL: https://www.islamicity.org/forum/forum_posts.asp?TID=43043
Printed Date: 27 April 2024 at 4:19am
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Topic: Question about personal loan from bank

Posted By: Axxaz123
Subject: Question about personal loan from bank
Date Posted: 31 July 2018 at 3:26am

I wanted to ask that a family member of mine took personal loan from of 3 lac from bank using my details.The agreement made at that point was that my account will only be used to apply for the loan where as the loan amount and all the installments along with interest will be paid by her. At that time i had no idea that interest taking and giving is haram in Islam. I agreed for that , the amount was taken by her and it has been four months the installments have not been given by her , every month giving a reason of not having cash to pay installments. Since the bank has my details therefore i have to pay the installments as a compulsion or out of helplessness, as the family member is not agreeing to pay the installments and comes up with a new excuse every time.
I am very worried and want to question that since i had no idea of loan being haram and now that i have come to know it , but now i am bound to pay that .. please tell me what should i do as i am afraid of ALlah for being punished as being a facilitator in applying for loan and now also paying the installments.

Please please do guide me what should i do??

Replies:

Posted By: Dr. Aslam
Date Posted: 09 August 2018 at 5:41pm

Wa alaikum salam,

Regardless, the loan is in your name and you are liable to pay it legally, and morally. You should not have agreed to it in the first place without informing the bank about that.

The issue of haram and halal is not relevant now because you already have taken a loan in your name and you have to pay the installment with all the expenses associate with it.

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Best Regards,
Aslam Abdullah

Posted By: hasan459
Date Posted: 24 August 2018 at 11:01pm

witness, writer and every single person who related with ribah, they all of guilty. we should use islami bank.

Posted By: seb345
Date Posted: 31 January 2020 at 8:02am

hey! I see that you have problems with loans from the bank? However, what led to this problem ? Since I believe that a lot depends on money, I think you should take another loan to pay this one. Since I had a similar situation in which after my wife left in a joint marriage, the loan went to me alone, and I had to take another with a huge budget. By the way at that time the site helped me http://https://credit-10.com/fi/bondora-luotto/" rel="nofollow - https://credit-10.com/fi/bondora-luotto/ which added many options for selecting a percentage. < ="text/">

Posted By: ScarletJohnson
Date Posted: 27 September 2020 at 2:24pm

What is the best place to take loan from?

Posted By: Dr. Aslam
Date Posted: 31 January 2021 at 7:38pm

Wa alaikum Salam

Try to Guidance Residential,

Dewan Bank and University of Islam.

Aslam

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Best Regards,
Aslam Abdullah

Posted By: elizajurning
Date Posted: 16 October 2022 at 10:01am

From a legal point of view, it is you who should pay off the loan. Surprisingly, when making an apartment on credit, it becomes possible to save some money. This option is suitable for those who fall under special categories of borrowers (young families, military, etc.) – they are provided with benefits in the form of reduced interest rates or subsidies to cover part of the costs. In addition, part of the loan can be paid at the expense of the maternity capital or with the help of refunded tax deductions. I used the http://https://leedsmoneyman.com/mortgage-broker-in-wakefield/" rel="nofollow - Mortgage Broker Wakefield to solve possible failures.

Posted By: Lumetronik
Date Posted: 02 February 2023 at 5:44am

It may be helpful to speak with the bank about your concerns and see if there is a way to transfer the loan to your family member's name. Keep in mind that it's important to prioritize your financial well-being, so don't hesitate to seek professional advice from a financial advisor if needed.

Posted By: Overslept
Date Posted: 08 February 2023 at 7:41am

Posted By: JuliusCuevas
Date Posted: 08 February 2023 at 7:43am

Hey there! It sounds like you're going through a tough situation with this personal loan. I'm sorry that you're feeling stuck and worried about being punished by Allah. Have you tried talking to the bank about your concerns? It's important to reach out to a religious scholar for guidance on this matter. As for the loan, if you agree to be a co-signer, the bank may hold you responsible for the payments. As for the missed payments, maybe it's worth having a heart-to-heart with your family member and figuring out a solution together. Hope this helps! And if you're ever in need of financial advice, don't hesitate to hit up https://Sunderlandmoneyman.com" rel="nofollow - https://Sunderlandmoneyman.com . Stay strong!