Is it permissible to deposit money in the bank for interest and then donate the entire interest to the needy?

It is not permissible to use an unlawful means for a lawful purpose, based on the Almighty's saying: (And do not aim for what is bad to spend from it), and the Prophet's (PBUH) saying: "Indeed, Allah is good and accepts only what is good." Consequently, there is no reward in it; rather, there is sin if it is done intentionally, unless it was due to ignorance or necessity.