Quick answer: Zakat is 2.5% of net zakatable wealth held for a lunar year once it reaches the nisab: with gold at 450 a gram the nisab is 85 × 450 = 38,250, and net wealth of 52,875 gives 52,875 × 2.5% = 1,321.88.
How it's calculated
Add your zakatable wealth: cash and bank balances, gold and silver at today's value, goods held for sale at their current market value, and money owed to you that you expect to be repaid. Subtract debts that are due now. If the net total is at least the nisab and has been held for a full lunar (Hijri) year, the zakat is 2.5% of it.
The nisab is 20 mithqal of gold, which most contemporary scholars and fatwa bodies put at 85 g of pure gold, or 200 dirhams of silver, about 595 g. Using silver gives a much lower nisab, so more people pay; many scholars recommend it for cash because it is better for the poor. Choose the one your scholar or fatwa authority follows.
Gold of lower karat is converted to pure gold: grams × karat ÷ 24. Prices change daily, so enter today's price per gram from a gold dealer, your bank or your country's gold market. Personal jewellery that is worn is treated differently by the schools of law: the Hanafi school counts it, while the majority do not. Include it in the gold field if your school counts it.
Your zakat year runs on the Hijri calendar: the Ramadan and Eid countdown and the Hijri to Gregorian converter help you find the date.
Worked examples
- 50,000 cash, 20 g of 21K gold at 450 (24K), 5,000 debts: 50,000 + 7,875 − 5,000 = 52,875 × 2.5% = 1,321.88
- Nisab on gold at 450 a gram: 85 × 450 = 38,250
- Nisab on silver at 5.50 a gram: 595 × 5.50 = 3,272.50
Frequently asked questions
What is the nisab for zakat?
The value of 85 g of gold or 595 g of silver. Multiply the grams by today's price per gram to get it in your currency.
Which nisab should I use, gold or silver?
Both are recognized. The silver nisab is lower, so it makes zakat due on smaller savings. Follow the view of the scholar or fatwa authority you rely on.
Do I pay zakat on my jewellery?
Scholars differ. The Hanafi school requires zakat on gold and silver jewellery; the Maliki, Shafi'i and Hanbali schools generally do not for jewellery worn in a normal way. Gold kept as savings or investment is zakatable in all views.
Can I deduct debts?
Debts that are due now are deducted here. Scholars differ on long-term debts such as a mortgage; a common view deducts only the instalments due in the current year.
Where do I find today's gold price?
From a licensed gold dealer, your bank, or the published daily gold rates in your country. Use the price per gram of 24K gold.
When does zakat become due?
When your net zakatable wealth has reached the nisab and a full lunar year has passed on it. Many people pick one Hijri date each year and calculate on that day.