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The Ramsey Show Highlights

Is Giving the Bank Our Money Biblically Immoral?

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6682 Ratings

🗓️ 16 January 2025

⏱️ 6 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

Brought to you by CHM, a biblically based alternative to health insurance. Learn more at

0:06.9

ch ministries.org slash budget. So I had a question about interest bearing loans. My understanding

0:14.0

is that interest bearing loans between brothers is prohibited. If I put my money in a savings account and I'm getting 4% interest back,

0:24.6

am I just removing that responsibility from my loan because now the bank is then charging another

0:30.5

believer interest using my money?

0:33.2

You're not in charge of the bank and the bank is not a brother.

0:38.7

Well, what if the bank is being run by believers?

0:42.0

It's not a bank is an institution.

0:44.8

It's not the employees.

0:46.9

If an individual, we can have a discussion about an individual loaning and individual money,

0:51.2

but institutions don't have souls.

0:55.8

And I promise you, banks don't have souls.

0:59.3

Sure.

1:00.1

Right.

1:01.3

But then on the back end of that, if somebody goes to a bank, like if I were to go to a bank

1:06.7

and borrow money for a mortgage, I'm using the money of other believers.

1:12.9

Am I enabling them to charge?

1:16.3

How do you know that?

1:17.1

They didn't loan you the money, though.

1:21.1

Right.

1:21.6

The bank pooled a whole bunch of people's money,

1:24.4

and so I don't know who the money belongs to.

...

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