I have given loans to people. Is Zakaat payable on the loans?

Answer

Zakaat has to be paid on money loaned to others. However, the Zakaat is not due as long as the loan is outstanding. But when they repay the loan, then you will have to pay for the past years as well. For example, if they pay you after three years, then Zakaat will have to be paid for three years. It is therefore better to pay every year.