This type of transaction will not be permissible. Because it is not permissible to get any benefit from the borrower in return for the loan. That includes interest. In the case in question, the lender is benefiting from the mortgage-mobile. The document is , Muhammad Ibn Sirin. Narrated from , he said , Abdullah bin Masood Razi. A man approached him and said , "A man has mortgaged a horse to me." I climbed it. (What is the ruling on this ?) Then Abdullah bin Masood agreed. He said : مَا صَصَبْتَ مِنْ ظَهْرِ فَرَسِهِ فَهُوَ رِبًا What you have benefited from it is interest. (Musannaf Abdur Razzaq 15061) Moreover, it is not permissible to make other transaction conditions in this way while giving loan. There is a prohibition in Hadith Sharif in this regard. Abdullah bin Masood agreed. That said , the conditional contract involves interest. (Sahih Ibn Hibban 1053)