Received bank interest you don't want to keep?
Clear it simply through ILM. Enter the amount, transfer it, and it leaves your possession.
Not an appeal. A disposal service.
What this service is for
Most UK current and savings accounts credit interest automatically. Many account holders never asked for it and cannot switch it off. Because interest is riba, a Muslim may wish to remove it rather than retain it or benefit from it in any way.
This page exists for that one purpose. You enter the amount that reached your account, transfer it through ILM, and the funds leave your possession. ILM then allocates the amount under its Interest Disposal Policy.
If interest appears again next year, come back and clear it again.
This is not Sadaqah
Money transferred through this service should not be treated as Sadaqah, and it should not be transferred with the intention of earning reward. The purpose is simply to remove money you do not wish to retain.
How it works
- 1
Check how much interest you have received. Banking apps usually list it as interest paid.
- 2
Enter the amount you want to clear. If you are unsure, use a careful estimate and round up.
- 3
Complete the transfer through ILM. It is logged as interest disposal.
- 4
ILM allocates it according to its approved Interest Disposal Policy.