Meaning of Usury (What it is, Concept and Definition)

Usury, in its original sense, are excessive interest charged for a loan, in a certain amount of money.

In the Middle Ages, usury was used as a synonym for interest, and it was a prohibited practice, as it was believed that money could not generate money. At that time, charging interest was considered a way to exploit a person who was going through a This is a difficult situation, therefore all financial loans should be made free of charge.

With the evolution of the financial system, the thinkers of the time began to think it fair for the creditor to receive a part of the profits obtained with his loan, in the form of interest, and at the end of the 15th century the first tables that limited the amounts charged for the loan of cash.

Then came the main difference between interest and usury. Interest was the fee charged within the amounts stipulated in the table provided for by law and usury became the term used to refer to charging fees above the maximum allowed limit.

Usury also has other meanings, such as referring to a petty individual, or to avarice and moneylenders. It can also be synonymous with ambition, greed and greed, or too much profit.

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