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While there's no general bank policy offering 0% interest rates solely to Jewish people, Jewish communities often provide interest-free loans through organizations like Hebrew Free Loans and Jewish Free Loan Associations, rooted in the Jewish tradition of tzedakah (charitable works) and interest-free lending.

Here's a more detailed explanation:

Jewish Tradition of Interest-Free Lending:

Jewish law (halakha) prohibits charging interest on loans to other Jews, viewing it as a form of charity rather than a business transaction.

Hebrew Free Loans and Jewish Free Loan Associations:

These organizations offer interest-free loans to members of the Jewish community for various needs, including home repairs, debt consolidation, medical expenses, and business ventures.

Gemach:

Gemachs are another form of interest-free lending within Jewish communities, offering loans with easy repayment terms.

Loans for Jewish Students:

Organizations like JELF (Jewish Educational Loan Fund) provide zero-interest loans to Jewish students pursuing higher education.

Loans for Non-Jews:

While the tradition of interest-free lending is primarily focused on loans to other Jews, some organizations like the Hebrew Free Loan Society (HFLS) offer interest-free loans to residents regardless of heritage or religion.

Alternative Lending Structures:

Some Kosher Financial Institutions may structure mortgages as business partnerships, where the lender becomes an investing partner, and the "interest" is considered a return on investment rather than a fee for borrowing money.

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Jewish Free Loan

Hebrew Free Loan Society (HFLS) | Interest-free Loans for Those In Need

 

Hebrew Free Loan Society

Interest-Free Loans in Judaism | My Jewish Learning

 

My Jewish Learning

Hebrew Free Loans | This Super Sunday Federatin - Jewish Federation in the Heart of New Jersey

Hebrew Free Loans provide members of the Jewish community with zero-interest loans and a personalized, confidential, and respectful application process for need…

Jewish Federation in the Heart of New Jersey

No Interest Loans Available for Jewish Students Pursuing Higher Education

Mar 11, 2024 — Do you or someone you know need help paying for college? JELF (Jewish Educational Loan Fund), a Federation partner agency, provides zero-percent-int…

 

Greater Miami Jewish Federation

Frequently Asked Questions - Hebrew Free Loan Society

Guarantors are required so HFLS may turn to them to repay a loan if the borrower is unable to repay. Because HFLS does not charge any interest or fees and does …

 

Hebrew Free Loan Society

Loans and interest in Judaism - Wikipedia

In the Hebrew Bible, the Book of Ezekiel classifies the charging of interest among the worst sins, denouncing it as an abomination and metaphorically portraying…

 

Wikipedia

Gemach - Wikipedia

Unlike bank loans, gemach loans are interest-free, and are often set up with easy repayment terms. Gemachs operate in most Jewish communities.

 

Wikipedia

Faith-Based Lending - Kosher Financial Institution

Sep 20, 2023 — Instead of structuring the mortgage as a loan, the Heter Iska frames it as a business partnership. In this arrangement: The lender becomes an invest…

 

Kosher Financial Institution

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The Torah and Talmud encourage lending money without interest. But the halakha (Jewish law) that prescribes interest-free loans applies to loans made to other Jews, however not exclusively.