Upvote:-3
Most if not all denominations have gone through a period where mutual aid, with no interest was attached to the plans to build a church, orphanage, etc. Modern Banking - with interest, begins in Italy, and other places, but also with more advanced math systems, and war funding.
You can also see inflation, house prices, and sizes grow with it...
The Catholic church history, as well as nearly every denomination I can think of was opposed to it.
The real answer may be when it become acceptable to take out loans? Make them? Google for this term to learn more.
Generally, to lend to foreigners / non-believers - people outside the group, is acceptable.
Islamics are also opposed to profit via interest...
Side note: Jesus talks in a parable about the servant who should have put his money with the bankers who would have returned interest... so there is a positive view from Him.
Upvote:2
Strict Eastern Orthodox Christian teaching requires this.
Although written in the 18th century, Counsels on the Particular Duties of Every Christian by Tikhon of Zadonsk is still considered by Orthodox Christians to be one of the most practical guides available for Christian living. (It is available in an English translation of the Greek version entitled Journey to Heaven). Tikhon writes:
When a debtor comes to such destitution and poverty that he genuinely has nothing with which to pay back his creditor, Christian love demands that the creditor either be patient, or, what is better, even to forgive the debtor his debt. Christian! He who took a loan from you is truly your debtor, but you are God's debtor. He is indebted to you for material things, but you are indebted to God for sins. His debt is very small against your debt of sin, it is as though it were nothing. Thus when you beg God to forgive you your ten thousand talents, forgive your neighbor his hundred pence. Spare the poor that God may spare you. Be a man merciful to men, that you may pray to God without pangs of conscience, God, be merciful to me a sinner! (Luke 18:13).
Tikhon also taught that the taking of interest in loans was expressly forbidden by Luke 6:35.
The holy word of God forbids the taking of interest. Lend, hoping for nothing again, says the Lord.
Interest or usury is considered to be among the greater sins as we see in the 14th Psalm, He hath not lent his money on usury. Read this Psalm for yourself diligently, and you will see the truth.
It is safer before the all-seeing God and before His just judgement not to take from those that do not have, than to take interest. Then choose the safer course.
I think I should add that Tikhon also cautions those who decide to take a loan to be careful to pay back everything "lest you appear before Christ's Judgement in debt".