Do Christianity or Judaism ban interest on money?

Question

I thought there were a few references in the Bible and Torah about the evils of 'usury'. Whether this is interest or excessive interest I don't know. But then again what is excessive interest. Are credit cards charges usurious?

If this is so - doesn't this mean that there is a huge untapped market for non-interest bearing products for the whole world, not just the middle east?

Answer 1

what about tithing do you know that christian are not under the old covenant (ephessians 2:15) an tithing belongs to old covenant.

Answer 2

Well, if an interest rate is too high, then I would say don't sign for the loan. The Christians seem to have wanted interest loans through out time, but never wanted to be the ones charging the interest, so they set up a system where if you were a Jew, and you wanted to support your family, you would have to work as a tax collector or money lender. Neither of these kinds of people are the types one is happy to see, as they are both there to take your money away. When it came to both, the christian rulers were always happy to see them. Tax collectors were bringing them their money, and if they ever needed a loan, they would ask a Jew, and then if they could not repay it, they would just have the Jew, and usually his family or entire extended family, killed. This was a common practice, and the only almost universal example of something uniquely "christian" in nature... and the reason why when someone asks me if I think something is the "christian" thing to do, they invariably are not happy with my answer...

Answer 3

There was a time when the Christian Church (at the time there was only one) banned interest as usury. I believe the ban was based on Jesus throwing the money changers out of the Temple. This is one of the reasons Jews became money lenders.

There are also Islamic prohibitions against charging and/or receiving interest on loaned money but I am not sure of specifics.

Answer 4

There are some strictures against "usury", but it isn't clear whether the references are to "excessive" interest, or to interest generally. Islam prohibits interest altogether (Qur'an 2:278 et al). Of course, the interplay between capital and return on it is the most fundamental principle of economics -- it applies even if you are all by yourself on a desert island; so any attempt to prohibit interest is simply an indication of economic ignorance.

Answer 5

Both do but only to same faith members do they provide interest free loans. I wouldn't call usury evil, it is a matter of security for loan defaults, something irrelevant when lending to other Jews. Christians used this basis for their internal ban.

Answer 6

Judaism does, but only between Jews who are members of the Jewish religion. (Sabbath breaking Jews, and Jews who worship idols, and Jews who commit sins in public to anger their Creator can be charged interest by Sabbath keeping, but cannot be given interest. I'm hoping some Jew says I'm wrong, so I can hit them with 15 or so sources and embarrass them for not knowing their own religion, as usual.) A non-Jew can be charged interest.

According to a very lenient opinion, a Jew may only charge interest to another Jew if he does the things above after having been raised a religious Jew. This view was rejected by Rav Aurbach, and Rav Shach.

Answer 7

The hebrew Torah forbids takin interest from your people (Jews). Look at Deut. 23,20-21.
About the Christians I am not sure.

Answer 8

it is a biblical commandments that jews are not allowed to charge other jews interest. i have no idea what the christian stance is, but since they have "done away with the law" my guess is they just follow whatever their particular denomination says about it.