Rent is fixed which is paid every month but when we late with due date we pay some extra fee that is interest.
What Is The Difference Between Rent(kiraya) And Interest(sood)?
There is very big difference between rent and interest.
The rent is the money which the owner gets from his renter on the monthly or annual basis, or according to agreement. Let us suppose that a person has its own apartment and he decide to give that apartment on rent. So when some renter came then he does an agreement with that renter for 1 or more years, and decides the annual or monthly money which the renter will give him at the start of the month. There is not some extra money that the renter will pay. He is just using his apartment and giving money for it.
While the interest is totally opposite of it. Interest is usually given by the banks. It means that we deposit some money in the bank and after a month we get some extra money on that deposited money at the 10% or 12% percentage. And also in the case of interest we are only concerned with the profit, when the bank is in loss for that current month then we are not responsible for that and there will not be any reduction from our deposited money. But if the bank gets profit then we will get profit on that deposited money. So this act came in the circle of un-Islamic act that is interest. If the depositor take both the profit and loss then it is correct but when he is only getting profit so it is not correct.
The rent is the money which the owner gets from his renter on the monthly or annual basis, or according to agreement. Let us suppose that a person has its own apartment and he decide to give that apartment on rent. So when some renter came then he does an agreement with that renter for 1 or more years, and decides the annual or monthly money which the renter will give him at the start of the month. There is not some extra money that the renter will pay. He is just using his apartment and giving money for it.
While the interest is totally opposite of it. Interest is usually given by the banks. It means that we deposit some money in the bank and after a month we get some extra money on that deposited money at the 10% or 12% percentage. And also in the case of interest we are only concerned with the profit, when the bank is in loss for that current month then we are not responsible for that and there will not be any reduction from our deposited money. But if the bank gets profit then we will get profit on that deposited money. So this act came in the circle of un-Islamic act that is interest. If the depositor take both the profit and loss then it is correct but when he is only getting profit so it is not correct.