What is Halal Savings?
Halal Savings gives you the flexibility to choose whether a specific savings plan should be halal or not. This means you can choose whether or not to earn interest on each individual savings plan.
2. How do I activate Halal Savings?
You can activate Halal Savings when creating a new savings plan. During the setup process, you will see a toggle asking if you want to make the plan halal. Turn it on before completing your savings plan setup.
3. Where can I find the Halal Savings option?
You can find the Halal Savings option when creating a savings plan.
4. Can I make all my savings halal automatically?
No. Busha allows users to choose this setting for each individual savings plan. This means you can decide which savings plans are halal instead of applying one setting across all your savings.
5. Can I have both halal and non-halal savings plans?
Yes. Because the setting applies to each individual savings plan, you can have different savings plans with different preferences.
6. Can non-Muslims use Halal Savings?
Yes. Anyone can choose to use Halal Savings if they prefer. However, users should understand that halal savings plans do not earn interest, and once a plan has been set as halal, the decision cannot be reversed for that specific plan.
7. Will my halal savings plan earn interest?
No. A halal savings plan will not earn interest.
8. Can I switch my halal savings plan back to a regular savings plan?
No. The choice is permanent for that specific savings plan once it has been enabled.
9. What happens if I accidentally enable Halal Savings?
Once a plan has been created as halal, the setting cannot be reversed. Please review your selection before confirming the savings plan.