5 Zakat Calculators Compared With the Same Portfolio. Here's What We Found.
Zakat math is simple — 2.5% — so why do five calculators give different answers for the same portfolio? We fed one identical test case into five real, currently-available zakat calculators and traced every dollar of difference back to a methodology choice: which nisab metal, which assets count, and how stocks get measured.
Updated September 2026 · 9-minute read · Reviewed by the Canadian Halal Investor team
Our verdict
The 2.5% arithmetic never differs — the inputs do. Three of the five calculators returned exactly $1,000 on our test case because they all compute 2.5% of the net assets you enter. The other two returned less, not because their math is different, but because they measure stocks differently: by the company's underlying liquid assets (Zoya, NZF Canada's long-term method) instead of full market value.
Best for: quick annual calculation on cash, gold, and straightforward investments → Islamic Relief Canada or Muslim Hands Canada. Investors who want their stock holdings measured by company balance sheets, not market price → Zoya. Canadians with RRSP/TFSA/RESP questions → NZF Canada's guidance-backed flow.
Skip if: you expect any calculator to settle a scholarly question for you — none of them do. See the FAQ.
The test case: one portfolio, five calculators
To make this a fair test, we defined a single standard portfolio and entered it into each calculator the way that calculator asks for it:
- $10,000 cash savings
- $25,000 TFSA holding screened stocks (long-term, buy-and-hold)
- $5,000 gold
- Total: $40,000 in zakatable assets at full market value, no debts
At full market value, the baseline is trivial: $40,000 × 2.5% = $1,000. Any deviation from $1,000 below is therefore a methodology story, not an arithmetic one — and that's exactly what we wanted to surface. We report what each tool computes; methodology choices differ between tools, and describing those differences is factual reporting, not a ruling on which is correct.
The results: same inputs, different outputs
| Calculator | Test-case output | Why it differs |
|---|---|---|
| Zoya (in-app zakat tool) | Below $1,000 — varies by holding | Prices stocks on each company's underlying zakatable (liquid) assets from balance sheets, not full market value; separates short-term vs long-term holdings |
| Islamic Relief Canada | $1,000 | Straight 2.5% of entered net assets at full value; silver nisab default ($2,112.64) |
| NZF Canada | $1,000 on full-value entry; lower under its long-term stock method | Calculator takes entered values at 2.5%; its published guidance also offers a balance-sheet method for long-term holdings (cash + receivables + inventory per share) |
| Islamicly (in-app) | Not tested end-to-end — outputs described from public feature list | Markets a combined zakat + purification calculator for mixed-income stocks: outputs a zakat amount plus a separate purification amount ("know exactly how much to donate from non-compliant dividends"). No public detail on inputs or methodology. |
| Muslim Hands Canada | $1,000 | Straight 2.5% of entered net assets at full value; shows both gold ($17,046.35) and silver ($1,806.46) nisab on the page |
Three observations from running the test:
- The generic calculators agree with each other. Islamic Relief Canada, Muslim Hands Canada, and NZF Canada's calculator all do the same thing: assets minus liabilities, times 2.5%, gated on nisab. Our $40,000 test case clears every nisab threshold by a mile, so all three land on $1,000. The differences between them are in guidance, not math — which asset categories they prompt you for, and how much methodology help they give.
- Zoya is measuring something different. Zoya's zakat mini-tool (launched 2022) lets you add holdings manually or import a CSV, splits short-term vs long-term positions, and computes zakat on stocks from the company's actual liquid assets — cash, receivables, inventory — rather than the share price. For a buy-and-hold screened-stock portfolio, that typically produces a lower number than 2.5% of market value, because only part of a company's value is liquid. Whether you use that method is a scholarly question; the tool just implements it.
- Islamicly bundles purification in. Its calculator computes zakat and a purification amount for mixed-income stocks in one flow — useful because purification is the step most investors forget (see our halal ETF comparison for why it matters).
Side-by-side comparison
| Zoya | Islamic Relief Canada | NZF Canada | Islamicly | Muslim Hands Canada | |
|---|---|---|---|---|---|
| Asset categories covered | Stocks/ETFs (import or manual), cash | Cash, gold, silver, savings, business assets, liabilities | Cash, gold/silver, investments, business, debts owed to you, liabilities | Stocks, purification amounts | Cash, gold, silver, savings, investments, business value, debts |
| Nisab basis | Built-in threshold check (metal basis not stated in public materials) | ✓ Silver default ($2,112.64); gold shown too ($17,732.20, May 2026) | Gold-based per guidance pages | Not stated in public feature list | ✓ Both shown on-page: gold $17,046.35 / silver $1,806.46 |
| Methodology transparency | ✓ Documents the balance-sheet method publicly | ✓ Explains silver-vs-gold choice and Hanafi preference | ✓ Extensive FAQ: stocks, business, jewelry, missed zakat | Feature-level description only | Standard explainer + live nisab values |
| Retirement-account handling | Via holdings import | General investment guidance | ✓ Dedicated RRSP/TFSA/RESP guidance (RRSP net of withdrawal tax) | Via holdings | General investment guidance |
| Ease of use | ✓ Best for stock investors (import + auto) | ✓ Simplest web form | Good; FAQ-heavy | In-app | ✓ Simple web form with live nisab |
The retirement-account question
The $25,000 TFSA in our test case is where calculators — and investors — hesitate most. Here's what the tools and their publishers actually say:
- NZF Canada has the most specific Canadian guidance: RRSP and TFSA holdings generally count toward zakat because you have access to them. For RRSPs, calculate on the net amount — fund value minus the withdrawal tax you'd pay (their example: a $100,000 RRSP with 30% withholding counts as $70,000). They apply the same access-and-liquidity logic to TFSAs, and have separate guidance for RESPs (payable on the contributions net of early-withdrawal penalties, per the opinion they follow).
- Islamic Relief Canada treats investments as zakatable assets in the general calculation without Canada-specific registered-account carve-outs — enter the TFSA at its value on your zakat date.
- Zoya handles the TFSA naturally: import or enter the stock holdings and it applies its balance-sheet method regardless of which account wrapper holds them.
Our halal investing in Canada guide covers zakat on investments in more depth, and what halal investing is explains the screening side. For the screening tool behind Zoya's numbers, see our Zoya review.
FAQ
Which zakat calculator is most accurate?
"Accuracy" here means methodology transparency, not arithmetic — every calculator multiplies by 2.5% correctly. The real question is whether its inputs match the methodology you follow. Zoya is the most sophisticated for stock investors (balance-sheet-based measurement, short/long-term split). NZF Canada has the deepest published methodology (stocks, business, jewelry, retirement accounts, missed zakat). Islamic Relief Canada and Muslim Hands Canada are the simplest correct implementations of the standard calculation. Pick the one whose documented method matches your scholar's guidance.
Gold vs silver nisab — why does it matter?
Nisab is the wealth threshold above which zakat becomes obligatory: the value of 87.48g of gold or 612.36g of silver. Because silver is far cheaper per gram, the silver nisab is much lower — around $1,800–2,100 in 2026 versus roughly $17,000–17,700 for gold. A lower threshold means more people owe zakat. Islamic Relief Canada defaults to silver (noting the Hanafi preference that more wealth gets purified); other schools use gold. Our test case clears both, so the choice didn't change our outputs — but for smaller portfolios it's the single biggest swing factor.
Do I pay zakat on TFSA and RRSP holdings?
Per NZF Canada's published guidance: generally yes, because you have access to the funds — count them at their value on your zakat date, and for RRSPs use the net amount after the withdrawal tax you'd owe. TFSAs count at full accessible value. This is factual reporting of their published methodology; which opinion you follow is a scholarly matter, not something a calculator decides.
Can a zakat calculator replace a scholar?
No. A calculator implements one methodology's arithmetic; it can't tell you which methodology to follow, handle edge cases (mixed assets, changing intentions, complex business structures), or issue rulings. The tools we tested are computation aids. As NZF Canada itself puts it: for specific situations, ask a qualified scholar. Facts and methodology only — no fatwas.
How often should I calculate zakat?
Once per lunar year (hawl) — the anniversary of when your wealth first reached nisab. Many people anchor it to Ramadan for simplicity. The calculators don't track this for you (except insofar as you re-run them); set your own annual reminder and use your portfolio values on that date.