Interest with Non-Jews: Difference between revisions
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→Interest with Non-Jews
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#Even outside Israel one should be strict if one can.<ref>Chachmat Adam 130:6 writes that any honest man who could avoid taking interest from non-Jews should do so.</ref> Some say that for an impersonal bank it is permitted since one hardly interacts with the non-Jews.<ref>Chelkat Binyamin 159:1 s.v. vhaidna writes that one doesn’t have to be strict for the Chachmat Adam if one is lending to a bank and one only has to interact with them minimally.</ref> | #Even outside Israel one should be strict if one can.<ref>Chachmat Adam 130:6 writes that any honest man who could avoid taking interest from non-Jews should do so.</ref> Some say that for an impersonal bank it is permitted since one hardly interacts with the non-Jews.<ref>Chelkat Binyamin 159:1 s.v. vhaidna writes that one doesn’t have to be strict for the Chachmat Adam if one is lending to a bank and one only has to interact with them minimally.</ref> | ||
#It is permitted to borrow with interest from non-Jews.<ref>Rambam Malveh Vloveh 5:2 explains that they never prohibited it lest one come to learn from their ways since it is normal for a borrower to avoid the lender and not learn from him. Meiri b”m 70b agrees. Chazon Ovadia Shabbat v. 1 p. 7 and Malveh Hashem 5:5 codify this as the halacha.</ref> | #It is permitted to borrow with interest from non-Jews.<ref>Rambam Malveh Vloveh 5:2 explains that they never prohibited it lest one come to learn from their ways since it is normal for a borrower to avoid the lender and not learn from him. Meiri b”m 70b agrees. Chazon Ovadia Shabbat v. 1 p. 7 and Malveh Hashem 5:5 codify this as the halacha.</ref> | ||
==Interest with a Convert== | |||
# If a Jew borrowed from a non-Jew with interest and then the non-Jew converted the convert may not collect the interest from the Jew even if it accrued before he converted unless it was already established as a loan. That is, if it was already due or prematurely they agreed that the borrower will owe the capital and interest then it is viewed as a complete interest free loan from that time forward.<ref>Shulchan Aruch Y.D. 171:1</ref> | |||
# If a non-Jew borrowed from a Jew with interest and then converts the convert has to pay for the interest of the loan that accrued before he converted.<ref>Shulchan Aruch Y.D. 171:1</ref> | |||
==Interest with Non-Religious Jew== | ==Interest with Non-Religious Jew== | ||
