What the Bible says about Money Lending

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sachin mittal
What the Bible says about Money Lending

Like the holy books of all religions, the Bible is a book of wisdom and an instruction on how to live an ideal life which may lead to attainment of the blessings of Jesus, the Savior. When in doubt, believers turn over the pages of the Bible to seek advice on various situations. This advice is through a didactic system i.e. delivering morals through storytelling.

Bible is not just the word of God

For many believers, the Bible is not just the word of God. It is a faith-building activity to read the Bible. For many families, the Bible prescribes the ideal lifestyle of a believer. The family adheres to these prescribed values and expresses its honesty and devotion to Jesus. To a layman like you and me, the Bible is divided into two major sections- the Old Testament and the New Testament. These are disperse instructions and certain do’s and don’ts which would help the believer lead a life of honesty, integrity and achieve holistic peace.

The Bible’s Take on Money Lending

The Bible consists of numerous verses which talk about money lending.

“If you lend money to one of my people among you who is needy, do not be like a moneylender; charge him no interest”
(Exodus 22:25; Psalm 15:5).” (Extract fromThe Old Testament)

Above is a law enacted by Moses. This law prohibited his people (Israelis) to charge any interest to poor persons because that would put into action a vicious cycle and lead to much suffering for them.It is invaluable blessings, rather than interest which such congenial lenders would receive fromGod himself, claimed Moses.It is important to note that the wealthier sections of society were excluded from interest free loans, owing to their ability to pay back in full.

Jesus says one should not turn away from the one who wants to borrow from us, even if they are our enemies. It is reiterated that one must have be benevolent, giving and gracious to people who are in need.

Rules for Money Lending in the Bible

The Bible does not encourage money lending. Here are some simplified instructions:

  • Those who are lending should be conscientious, ethical and fair.
  • Interest will not be charged to a brother
  • Indebtedness to another is created by loans

A common concept that is seen often in the Bible is that loans are accompanied by servitude and debt

The Bible’s Take on Money Lending

The Bible constantly instructs people to be generous. Many stories cite examples of persons who were generous while they themselves had very little. It also preaches us to fight the temptation to hoard or overspend money.

“For the love of money is a root of all kinds of evil.” 1 Timothy 6:10a

Money is not the Prime Evil

Thus, we must remember that money is not the prime evil. It is the attachment towards money which makes us disrespect and abandon our relationships owing to greed.