I assist borrowers in obtaining HELOC loans from Citizens Bank. I don’t work for the bank I’m a independent contractor and get paid from the borrowers directly. recently someone told me they heard that someone getting a loan from Citizens Bank needs a heter iska – he told me it was an email he received from Hakhel. I didn’t see it in writing. but he got me concerned. I called the branch that handsels the closings and to their knowledge Citizens Bank is a public company and they don’t know what a heter iskah is.
what do you recommend ?

Answer:

If it is a public company, one who takes a loan would have what to rely on to take the loan. However, ideally If it is Jewish majority owned, one should arrange for a heter iska.

One Response to “Heter Iska on Bank Loans”

  1. It turns out the email from Hakhel listed 3 other banks NOT citizens bank.

Leave a Reply

Your email address will not be published. Required fields are marked *