Work out how much Zakat you owe on your gold, silver, cash, savings and business assets. Enter today’s gold and silver prices to set the nisab.
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How Zakat is calculated
- Add up your zakatable wealth: gold, silver, cash, bank balances, investments, business stock and money owed to you.
- Take away debts and bills that are due now.
- If what’s left is at or above the nisab and you’ve held it for a full lunar year, pay 2.5% of it.
| Nisab | Weight | In tola |
|---|---|---|
| Gold | 87.48 g | 7.5 tola |
| Silver | 612.36 g | 52.5 tola |
Many scholars recommend the silver nisab because it’s lower, so more people pay and more people in need benefit. Others use gold. Whichever you choose, use it consistently.
Worked example
Someone owns 2 tola of gold and has Rs 250,000 in the bank and Rs 300,000 in savings certificates, with no debts due. With silver at Rs 8,000 a tola, the nisab is 52.5 × 8,000 = Rs 420,000. Adding the gold at today’s price takes their wealth well above the nisab, so Zakat is 2.5% of the total.
Without the gold (Rs 550,000 in cash and savings), Zakat would be Rs 13,750.
What isn’t counted
- Your home, car, furniture, clothes and household items.
- Tools and equipment you use for work.
- Property you live in or rent out (rental income you’ve saved does count).
Frequently asked questions
What is the Zakat rate?
2.5% of your zakatable wealth, once it reaches the nisab and has been held for a lunar year.
What is the nisab?
The minimum wealth for Zakat to be due: the value of 87.48 g (7.5 tola) of gold or 612.36 g (52.5 tola) of silver.
Is Zakat due on jewellery I wear?
Scholars differ. Many Hanafi scholars say yes; others say jewellery for personal use is exempt. Ask a scholar you trust.
Do Pakistani banks deduct Zakat automatically?
Banks may deduct Zakat from some savings and deposit accounts on the first of Ramadan, unless you’ve submitted an exemption declaration.
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