Zakat Calculator

 At Baitulamal, we think paying your Zakat should be as easy as possible, which is why we have created a handy calculator for your ease and convenience.

 

Use our  calculator below to determine how much Zakat to pay this lunar year. If you’ve already worked out how much you owe, then you can donate below, it’s quick and easy! How to work out Zakat? Giving Zakat is obligatory for all eligible Muslims and is based on the current nisab values. These can vary year to year, which makes knowing how much to pay quite difficult. To simplify the rules around paying zakat, use the nisab values for 2020 below then enter your personal values into the calculator to determine your zakat contribution.

 

How much is Nisab for Zakat 2020 (Silver) 612.36g equating to $238.82 (Gold) 87.48g equating to $3,753.77 Calculate Your Zakat With Our Easy To Use Calculator 100% Donation Policy What is the meaning of Zakat? One of the Five Pillars of Islam, Zakat is a fundamental part of being a Muslim. Meaning purification, Zakat is the act of giving a set percentage of your total wealth to charity each lunar year and is required of every sane, adult Muslim whose accumulated wealth exceeds the current Zakat nisab value.

 

Zakat is so much more than just giving to those in need; paying Zakat is an act of worship. At Baitulmal America, we understand this wholeheartedly, which is why we strive to ensure that your Zakat payment reaches the most vulnerable and needy communities in the world, quickly and effectively. Considering all the different items and details that must be kept in mind when calculating Zakat, understanding the Zakat nisab value, when to pay Zakat and who we can give it to, the whole process can be complicated. We are here to help, though; we have put together a brief guide around how to calculate Zakat, including the correct Zakat percentage of your wealth to be paid, and whether any Zakat tax is applicable in the Pak

 

What is Nisab?

 

Firstly – what is the nisab threshold? The Zakat nisab value is the minimum threshold required for an individual to be eligible to pay Zakat in that specific lunar year. Your total overall wealth must meet or exceed the nisab value in order for you to be eligible to pay Zakat.

 

What is the Nisab value? The most up to date nisab for gold and silver can be found at the top of the page. The nisab value is directly related to the current values of gold and silver. In the Holy Qu’ran, the nisab value is described as 612.36g of silver or 87.48g of gold. Originally, these values of silver and gold were equal but in the current day, they have become different, with the silver nisab being significantly lower than its gold counterpart. You can calculate the nisab value at any given time by converting these weights into your local currency.

 

What is the Zakat Percentage? Your Zakat donation should amount to 2.5% of your total wealth accumulated over the year. As an example, if your total assets (after any debts owed) amounted to $10,000, then you would be required to pay $250 as Zakat.

 

What is Zakat Due On? When calculating your total wealth and assets, you must consider the following: The value of gold and silver items owned Money in your bank accounts or in cash at home Loans that you have given out Pensions, stocks, shares and investments Property owned as an investment (excluding the property you live in) Farm and agricultural produce You can use our Zakat calculator for gold, silver, cash and on other assets to determine your overall wealth, and subsequently work out how much Zakat you need to pay.

 

Please note that any debts you currently have outstanding, including any form of loan, are ineligible for Zakat so they must be deducted from the overall total.