Is Zakat obligatory on money saved in a bank, given that the father provides for the young man throughout his life, during his working days and after he leaves his job?

Saved money is subject to Zakat if it reaches the nisab (minimum threshold) and a full hawl (lunar year) passes over it. This is done by giving out one-quarter of one-tenth (2.5%) of it annually, and it is to be given to the deserving poor and needy. The nisab for gold is the equivalent of 85 grams, while for silver, its nisab is 595 grams. Supporting one's parent does not affect the obligation of Zakat.