ANSWER:

This is totally prohibited as fixed profit is riba and one of the major sins in Islam for which Allah has waged a war against people who deal with it (riba)

QUESTION: Indian government-backed companies offer long-term investment schemes, such as paying ₹6,000 monthly for 17 years to receive ₹25 lakhs after 20-25 years. Is it halal or haram to invest?

Riba | June 30, 2025 11:57 pm
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QUESTION: You mentioned in your previous response that it is not permissible to impose late fee on deferred deposition in fund when any members fail to deposit within the deadline every month, even if there is no lending/borrowing but only fund raising taking place. Is this because the late fee is riba or for other reasons?
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QUESTION: My question is that there is an app which allows you to pay in installments but then the price become slightly higher than the original price. Is it considered as interest too and is it impermissible?