Wa alaikumsalam wa rahmatullaahi wa barakatuhu,

Any money owned for a year, if it exceeds 595 grams of silver, you must give zakat.

Does one have to pay zakat towards the money kept in a bank in savings account for nearly nine months and later on put in Fixed Deposit a/c for the past three months (purely for security purpose only).

Zakat | June 12, 2016 8:56 am
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Assalamu alaikum,someone has x dolar wealth or cash and x dolar loan.should she pay zakah?She is not able to pay the loan now.
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The balance of cash in my bank account increases and decreases each month. Eg: June 12000 ;July 10,000 ;August 11200; September 13,000. If I pay zakah on 10,000 which is balance I have held for whole year. In August 2016 will I need to pay zakah on 1200 (11200-10,000). Since I would have held it for one year. Please explain how to calculate easily.