The bank asked me to pay an additional amount due to my delay in paying one of the installments; is this riba (usury or interest)?
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Question:
He says: Honorable Shaykh, may Allah grant you success. I took a loan from one of the banks here and I was late in paying one of the installments. I took a loan from one of the banks here and I was late in paying one of the installments, so the bank asked me to pay three hundred riyals in addition to the installments because I was three days late. Is this riba?
Answer:
They will demand this from you. You must dispute with them in the court, and the judge will look into the matter. This is a dispute.
He says: Honorable Shaykh, may Allah grant you success. I took a loan from one of the banks here and I was late in paying one of the installments. I took a loan from one of the banks here and I was late in paying one of the installments, so the bank asked me to pay three hundred riyals in addition to the installments because I was three days late. Is this riba?
Answer:
They will demand this from you. You must dispute with them in the court, and the judge will look into the matter. This is a dispute.
Source
قناة «العلامة الدكتور صالح الفوزان»، [3185- 4717] طلب مني البنك دفع مبلغ زيادة بسبب تأخري في دفع أحد الأقساط فهل هذا من الربا؟ — youtube.com
The Arabic text is a machine transcription of the audio recording.