Is Zakat due on the price of gold deposited in the bank immediately upon its sale, or after a full year has passed?

Gold prepared for jewelry and personal use is not subject to zakat, according to the majority of scholars. When sold, its price is not subject to zakat until a hawl (lunar year) has passed and it reaches the nisab. However, gold prepared for trade or saving is unanimously subject to zakat, as is its price, and its hawl is tied to the hawl of its original acquisition. Depositing money in Islamic banks is permissible, while in usurious banks it is not permissible except out of necessity.