What should I do with bank interest?

“The receiving and giving of interest is totally impermissible. In the unfortunate event of being involved in an interest bearing transaction, the interest money must be returned to its original owner (the one from whom interest was received).”

“Aameen to your duas. It is permissible to dispose of interest money to poor and needy Muslims without the intention of reward.”

“If you are poor, then it is permissible for you to use the interest money or to give it to someone poor without the intention of receiving any reward. However, if you are wealthy, then you should spend from your halaal wealth upon your daughter and grandchildren.”

“As a general rule, it is Haraam for person to take or give interest loans. If an interest loan had been taken or given to a person, the interest money has to be returned to its original owner. A person should make sincere Taubah and Istighfaar for involving himself in such loans.”