Is zakat due on a financial deposit in an Islamic bank immediately, or when its profits are added, and how is its zakat calculated?

The calendar considered for the disbursement of zakat on wealth is the Hijri calendar. The calculation of the hawl (one lunar year) begins from the moment the wealth comes into your possession, not from the time it is deposited in the bank. If the deposit reaches the nisab (85 grams of pure gold or 595 grams of pure silver), its zakat becomes obligatory after the completion of a full Hijri hawl. The amount of zakat is a quarter of a tenth (2.5%) of the total wealth. The profits generated from this wealth are zakatable along with the principal.