What is the method for calculating zakat on a loan amount of 200,000 Saudi Riyals deposited in a bank account, from which 42,000 Riyals have been repaid, knowing that the loan was for home renovation and marriage, and withdrawals are made as needed?

The majority of scholars hold the view that debt waives Zakat on concealed wealth. Therefore, you should deduct the amount you owe. If, after this deduction, the remaining amount reaches the nisab (minimum threshold) and a hawl (one lunar year) passes, then Zakat becomes obligatory on you. This applies if you do not have surplus wealth on which Zakat is not obligatory, such as houses and cars. Otherwise, consider that money as offsetting the debt, and pay Zakat on the entire amount in your account after a hawl has passed, provided it does not fall below the nisab. The nisab for banknotes is approximately equivalent to 85 grams of gold or 595 grams of silver, and one-quarter of one-tenth (2.5%) must be paid.