Allah says: “And let not those who hold back miserly from giving that which Allah has bestowed on them from His Bounty think that it is good for them. Nay, it will be worse for them. The things that they held back from giving will be tied to their necks like a collar on the Day of Recompense. And to Allah belongs the heritage of the heavens and the earth, and Allah is well-Aware of all that you do.” [Surah Aali ‘Imraan: 180]

And in Saheeh Al-Bukhari, Abu Hurairah (radyAllaahu ‘anhu) reported that Allah’s Messenger (sallAllaahu ‘alayhi wa sallam) said: “Whoever Allah has given money to and does not give his Zakat for it, it will take the form of a shiny-headed male serpent with two black spots over its eyes, which will encircle him on the Day of Judgement and bite his cheeks saying: ‘I am your money, I am your wealth.’”

Allah says: “And those who hoard up gold and silver and do not spend on them in the Way of Allah (i.e. by giving Zakat), give them the tidings of a painful punishment. This will be on the Day when those treasures (i.e. gold and silver) will be heated in the Fire of Hell and with it their foreheads, bodies and backs will be branded. (And it will be said to them): ‘This is the treasure that you hoarded for yourselves, so taste what you used to hoard.” [Surah At-Tawbah: 34]

And in Saheeh Muslim, Abu Hurairah (radyAllaahu ‘anhu) reported that the Prophet (sallAllaahu ‘alayhi wa sallam) said: “There is no one that possesses gold and silver and doesn’t give his due (Zakat) on it except that on the Day of Judgement, it will be made into plates of fire, then dipped into the Fire of Hell and with it his body, forehead and back will be branded. Each time the plates grow cool, they will be reheated and brand him again. This will occur on a Day the length of fifty thousand years, until Allah judges His servants.”