How to calculate zakat on gold, silver and savings (worked example)

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Not a fatwa. This is an arithmetic walkthrough, not religious, financial or tax advice. Where scholars differ, it says so. For your own situation, ask a scholar you trust or your local zakat authority. All figures are examples.

The basic rule

Zakat is due on wealth that is at or above the nisab and has stayed there for a full lunar year (the hawl, about 354 days). The amount is 2.5%, one fortieth, of your net zakatable wealth.

Step 1: Pick your zakat date

Choose one date and keep it every lunar year. Many people use a date in Ramadan, which is expected to begin around 8 February 2027 (the exact day depends on the moon sighting). Any fixed date works. Everything below is valued on that date.

Step 2: Add up what you own

• Cash at home and money in bank accounts
• Gold and silver, by weight (see step 3)
• Shares, funds and other investments
• Business stock held for sale, and business cash
• Money owed to you that you expect to get back

Do not count your home, your car, furniture, or personal belongings you use.

Step 3: Value gold and silver correctly

Gold prices are quoted for pure (24K) gold. Jewellery is usually 22K, 21K or 18K, which contains less gold, so convert it first:

Pure gold (g) = weight (g) × karat ÷ 24

• 20 g of 22K gold = 20 × 22 ÷ 24 = 18.33 g pure
• 10 g of 18K gold = 10 × 18 ÷ 24 = 7.5 g pure

Then multiply by today’s price for one gram of 24K gold. Silver works the same way with purity: sterling silver is 92.5% pure, so 30 g of sterling contains 27.75 g of fine silver.

Step 4: Subtract what is due now

Subtract debts and bills that are due now, before your next zakat date. For long-term debts such as a mortgage, many scholars deduct only the instalments currently due, not the whole balance.

Step 5: Compare with the nisab

The nisab is the value of 87.48 g of gold or 612.36 g of silver. Some use rounded weights of 85 g and 595 g. Because silver is much cheaper, the silver nisab is far lower. With the example prices below:

• Gold nisab: 87.48 × 124.99 = 10,934.13
• Silver nisab: 612.36 × 1.56 = 955.28

Many scholars and charities recommend the silver nisab as the cautious choice, because more people reach it and more zakat reaches those who need it. Others use gold. Use the one your scholar or community follows.

A full worked example

Example prices (USD, 14 November 2026): gold 124.99 per gram, silver 1.56 per gram.

• Cash and bank: 6,000
• Gold: 20 g of 22K = 18.33 g pure × 124.99 = 2,291.48
• Investments: 3,000
• Money owed to you: 500
• Total assets: 11,791.48
• Bills and debts due now: 800
• Net zakatable wealth: 11,791.48 − 800 = 10,991.48

That is above the silver nisab (955.28), so zakat is due: 10,991.48 × 2.5% = 274.79.

Where scholars differ

• Jewellery you wear. The Hanafi school counts gold and silver jewellery even if worn. The Shafi'i, Maliki and Hanbali schools generally do not count jewellery worn regularly in a normal amount.
• Shares. Some count the full market value; others count only the zakatable part of the company’s assets.
• Long-term debt and pensions. Opinions vary on how much to deduct and whether pensions you cannot access count.

Who receives zakat

Surah at-Tawbah 9:60 names eight categories (asnaf): the poor, the needy, those who collect zakat, those whose hearts are to be reconciled, freeing those in bondage, those overwhelmed by debt, in the cause of Allah, and the stranded traveller. Many people give through a trusted local organisation that distributes to these categories.