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Zakat Calculator
WHAT IS ZAKAT
Offering zakat is a religious obligation for Muslims, and is the third of the five pillars of Islam (right after prayer). In Arabic, zakat means purification, growth, and blessing. Paying zakat is meant to remind Muslims to be appreciative of the blessings that Allah (Subhana Wa Ta’ala) has bestowed upon them, and to help empower those who have less. There are two primary forms of zakat: zakat al-mal and zakat al-fitr.
Offering Zakat
Zakat is payable at 2.5% of the wealth one possesses above the nisab. Nisab, which is equal to Your Nisab will be the equivalent of 87.5 grams of gold or 612.4 grams of silver, is the minimum amount of wealth one must have before they are liable to pay zakat. Zakat is liable on gold, silver, cash, savings, investments, rent income, business merchandise and profits, shares, securities, and bonds. Zakat is not paid on wealth used for debt repayment of living expenses such as clothing, food, housing, transportation, education, etc