Loan service fees, late payment fees, collection fees : loan with processing fees

Fatawa Question

AA Dr. Monzer, I wanted to ask you about 0 % Apr credit card loans while they take 3 % processing fee for the loan. Is that allowed given that I plan to invest the money for a short period of time and pay it all back before the time comes when the interest fee starts kicking in. Your response is highly appreciated... Munir

Fatwa

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Publication Date

2009-09-28

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

No. of Pages

4

Data Type

Fatawa

Language

English

Record ID

BIM-729933

American Psychological Association (APA)

Qahf, Mundhir. 2009-09-28. Loan service fees, late payment fees, collection fees : loan with processing fees. .
https://search.emarefa.net/detail/BIM-729933

Modern Language Association (MLA)

Qahf, Mundhir. Loan service fees, late payment fees, collection fees : loan with processing fees. 2009-09-28.
https://search.emarefa.net/detail/BIM-729933

American Medical Association (AMA)

Qahf, Mundhir. 2009-09-28. Loan service fees, late payment fees, collection fees : loan with processing fees.
https://search.emarefa.net/detail/BIM-729933