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Zakat on Savings Calculator

Enter your savings and the gold price per gram to see if zakat on savings is due and how much. The nisab is worked out from the gold price you enter.

RM

Bank savings, fixed deposits and cash you have held for a full year, after any money you owe that is due now.

RM

Use the gold price your zakat authority publishes. The RM400 default is only an example.

Held for a full year?

Zakat on savings is due after the money has stayed above the nisab for one lunar year.

Source: Lembaga Zakat Selangor – Info Zakat ↗

This result is an estimate only. Check with your bank or the relevant authority before making decisions.

How it is calculated

  • Nisab = 85 g × gold price per gram
  • Zakat = 2.5% × savings, if savings are at least the nisab and have been held for a full year

For zakat on gold, use the zakat on gold calculator. For zakat on salary, use the zakat on income calculator.

Worked example

RM50,000 of savings held for a year, with gold at RM400 a gram:

  • Nisab: 85 × 400 = RM34,000
  • RM50,000 is above the nisab
  • Zakat: 2.5% × RM50,000 = RM1,250

Why your number may differ

Authorities differ on the gold price they use for the nisab and on which accounts count. The balance may have changed during the year, and some authorities use the lowest balance or the balance on the due date. Ask your state zakat authority before you pay.

Frequently asked questions

What is the nisab for savings?

The nisab is the value of 85 grams of gold. Zakat of 2.5% is due on savings that reach it and are held for a full year.

Do I pay zakat on savings if I already pay zakat on income?

Zakat on income covers the income itself. Savings you have accumulated and held for a full year may be assessed separately, so ask your state zakat authority how they treat money already assessed.

Which gold price should I use?

Use the gold price your state zakat authority publishes for the nisab. It changes, so the default here is only an example.

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