Add up cash, bank balances, gold, silver, investments, business stock and money owed to you, subtract debts that are due, and compare the total with the nisab. You enter today's gold and silver prices, so the result reflects current market rates.
How to use
- Enter today's gold and silver prices per tola or per gram.
- Enter your assets and the gold and silver you own.
- Enter debts and payments currently due.
- Choose the silver or gold nisab and read the zakat payable.
Example
Net zakatable wealth of 1,000,000 that has been held for a lunar year and is above the nisab gives zakat of 25,000 (2.5%).
Methodology
Zakat is 2.5% of net zakatable wealth held for a full lunar year, provided it is at or above the nisab. The nisab used here is 87.48 g (7.5 tola) of gold or 612.36 g (52.5 tola) of silver, at the price you enter.
Many scholars recommend the silver nisab for cash and mixed assets because it is lower and benefits more recipients; others use gold. Views also differ on jewellery for personal use, long-term debts and retirement savings. The calculator lets you choose the basis; it doesn't decide questions of fiqh.
Good to know
- Personal home, car, furniture and tools of your trade are generally not zakatable.
- Please consult a qualified scholar for your specific circumstances.