Is zakat obligatory on money borrowed for installment-based trade, and how is it calculated, taking into consideration the repayment of loan installments to the bank?

If the loan is usurious, one must repent to Allah and repay the loan to minimize the payment of usury. As for zakat, it is obligatory on money and trade goods if they reach the nisab (threshold) and a full year has passed on them, and it is calculated as one-quarter of one-tenth (2.5%) of their total value. Installments of debts owed by people can be paid as zakat immediately or after they are collected for past years. As for debts owed by the muzakki (the one paying zakat), there is a difference of opinion regarding deducting them. The more cautious approach is not to deduct them, and if they are deducted, the more cautious approach is not to deduct the usurious interest from them.