Depositing Money with Interest | Interest on loans | Ask the Rabbi - SHEILOT.COM

Depositing Money with Interest

Question

Is it permissible to deposit money in a bank savings account and receive interest?

Answer

Hello 

When there is a heter iska, it is permissible according to Halacha. 

It is more commendable to deposit in a gemach if it does not result in significant loss. 

Source

Shulchan Aruch Yoreh De'ah 167

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