Zakat Calculator (Gold and Silver Nisab)
Zakat Calculator (Gold and Silver Nisab)
Add up your zakatable wealth, take off debts due now, compare the result with the nisab in gold or silver at today’s prices, and see 2.5% of it if the nisab is reached.
Zakat due
Cash $3,00,000, gold $5,00,000, investments $2,00,000, debts due $50,000; silver $180 a gram
Zakat on wealth
- A
- zakatable assets: cash, gold, silver, investments, money owed to you, trade stock
- D
- debts due now
- nisab
- the value today of 595 g of silver or 85 g of gold (612.36 g or 87.48 g in the tola reckoning)
Worked example
Cash $3,00,000, gold $5,00,000, investments $2,00,000, debts due $50,000; silver $180 a gram
Net wealth = 3,00,000 + 5,00,000 + 2,00,000 − 50,000 = $9,50,000
Silver nisab = 595 × 180 = $1,07,100; the wealth is above it
Zakat = 2.5% × 9,50,000 = $23,750
With the gold nisab instead (85 × 15,000 = $12,75,000) the same wealth is below the threshold, and no zakat would be due on these figures: the choice of standard decides it
The nisab standards at gold 15,000 and silver 180 a gram
| Standard | Weight | Nisab value |
|---|---|---|
| Silver: 595 g | 595 g | $1,07,100 |
| Gold: 85 g | 85 g | $12,75,000 |
| Silver: 612.36 g (52.5 tola) | 612.36 g | $1,10,225 |
| Gold: 87.48 g (7.5 tola) | 87.48 g | $13,12,200 |
How zakat on wealth is worked out
Zakat on wealth is 2.5%, one fortieth, of what a Muslim owns above their immediate debts, once that wealth has reached the nisab and been held for a lunar year. The usual approach, followed here, is to total cash, bank balances, gold and silver, investments, money owed to you that you expect back, and stock held for trade, then subtract debts that are due now. Your home, car, furniture and tools of your trade are not included.
Gold or silver nisab. The nisab was set as 20 mithqal of gold or 200 dirhams of silver, usually taken as 85 g of gold or 595 g of silver; South Asian scholars working in tola give 87.48 g (7.5 tola) and 612.36 g (52.5 tola). When gold and silver were worth about the same, the two standards gave similar thresholds. Today they are far apart: at the example prices the gold nisab is 12 times the silver one. For cash, the Islamic Fiqh Council of the Muslim World League, Saudi Arabia’s Council of Senior Scholars and its Permanent Committee have said to use whichever threshold is better for the poor, which today is silver, and the UK’s National Zakat Foundation recommends silver. Other scholars, including Yusuf al-Qaradawi in his Fiqh al-Zakah, hold that the gold nisab is the right measure for money today. This page does not choose between them; it shows both.
Where scholars differ. Jewellery worn regularly is zakatable in the Hanafi school and exempt in the majority view of the other schools. How much of a long-term debt, such as a home loan, to deduct is also debated; many deduct only what is due in the coming year. Shares may be counted at market value or by the company’s zakatable assets. For these questions, and for your own circumstances, ask a scholar or your local zakat body.
Use today’s prices: the defaults are illustrations. The gold price calculator values gold by karat and weight, and the gold unit converter converts tola to grams. This is arithmetic on the figures you enter, not financial advice.
Frequently asked questions
How much zakat do I pay?
2.5% of your net zakatable wealth, if it is at or above the nisab. On $9,50,000 that is $23,750.
Should I use the gold or the silver nisab?
Both are recognised. Several bodies, including the Muslim World League’s Fiqh Council, Saudi Arabia’s Permanent Committee and the UK’s National Zakat Foundation, recommend the silver nisab for cash because it is better for those who receive zakat; other scholars use gold. Ask a scholar you trust.
What is the nisab in grams?
85 g of gold or 595 g of silver in the common metric reckoning, or 87.48 g of gold and 612.36 g of silver when counted as 7.5 and 52.5 tola.
Is zakat due on gold jewellery I wear?
Scholars differ. The Hanafi school counts it; most scholars of the other schools exempt jewellery worn in normal use. Ask a scholar about your situation.
Related calculators
References
- Islamic Fiqh Council of the Muslim World League. Resolution on paper currency (resolution 6): zakat on paper money is due when it reaches the lower of the gold and silver nisab.
- Permanent Committee for Scholarly Research and Ifta (Saudi Arabia): the nisab for currency is the value of 20 mithqal of gold or 140 mithqal of silver, whichever is in the best interests of the poor; as quoted by IslamQA, answer 370380 (595 g of silver).
- National Zakat Foundation (UK). Nisab: 87.48 g of gold or 612.36 g of silver; NZF recommends the silver nisab. https://nzf.org.uk/nisab/
- al-Qaradawi Y. Fiqh al-Zakah (trans. Kahf M.). Scientific Publishing Centre, King Abdulaziz University, 1999: the case for the gold nisab for money.