Zakat Calculator

What is zakat?

Zakat is the obligatory annual charity in Islam: 2.5% of the wealth a Muslim has held for one lunar year (the hawl), once that wealth is at or above a minimum called the nisab. It is paid to those entitled to receive it, such as the poor and people in debt.

The nisab is the value of 87.48 grams of gold or 612.36 grams of silver. Because silver is far cheaper, the silver nisab is much lower, so more people pay zakat and more reaches the poor; many scholars recommend it for that reason.

Formulas

• Net wealth = cash + investments + gold × price + silver × price + business stock + money owed to you − debts due now
• Zakat = net wealth × 2.5%, if net wealth is at least the nisab

Worked example

With 450,000.00 in cash, 150,000.00 in investments, 20 g of gold at 15,000.00 a gram and 30,000.00 owed to you, less 80,000.00 of debts due now, your net zakatable wealth is 850,000.00. That is above the silver nisab of 153,090.00, so 21,250.00 of zakat is due.

How to use the zakat calculator

1. Enter your figures: gold price per gram today and silver price per gram today. Cash at home and in bank accounts, shares, funds and savings certificates, gold you own, silver you own, business stock and cash, money owed to you that you expect back and debts and bills due now are optional and count as zero when left empty.
2. Read the result. It updates as you type, so there is no button to press.
3. Try other numbers to compare scenarios. Reset brings back the example values.

Getting it right

• Use today’s market price per gram for the purity of gold you own, and enter all values in the same currency.
• Count wealth you have held for a full lunar year. Many people pick one date each year, such as a day in Ramadan, and calculate everything they own on that day.
• Your home, car, furniture and personal clothes are not counted. Gold jewellery is treated differently by different schools of thought; ask a scholar you trust when in doubt.

Frequently asked questions

What is the nisab for zakat?

The value of 87.48 grams of gold or 612.36 grams of silver at today’s price. If your net zakatable wealth is below it, no zakat is due.

Should I use the gold or the silver nisab?

Both are valid. The silver nisab is lower, so it makes zakat due on smaller amounts of savings, which benefits more people in need. Many scholars recommend it, especially when your wealth is mostly cash.

Are debts deducted before zakat?

Debts and bills that are due now are deducted. For long-term loans such as a mortgage, many scholars deduct only the instalments due in the coming year.