Is zakat obligatory on an amount of EGP 20,000 deposited in the bank for three years in savings certificates, if it does not reach the nisab estimated at 85 grams of gold, and how is zakat calculated for past years if it is obligatory?

The gold considered for the nisab is pure, 24-carat. The nisab for gold is eighty-five grams, and the nisab for silver is five hundred and ninety-five grams.

So, whoever possesses money equal to the nisab of gold or silver, and a year has passed over it, zakat becomes obligatory on it, and its amount is a quarter of a tenth (2.5%).

Therefore, if the money does not reach the nisab of gold but reaches the nisab of silver, zakat is obligatory after the passing of a year. If you have not paid it for the past years, it is obligatory to pay it now for every past year. If the money does not reach the nisab of gold or silver, then no zakat is due on it.