Legal analysis: According to the laws of our country, the interest exceeding four times the interest rate agreed by both parties when the contract is established and the quoted interest rate in the one-year loan market is illegal interest.

Legal basis: Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases.

Article 26 If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the quoted interest rate of the one-year loan market at the time of the establishment of the contract. The "one-year loan market quotation rate" mentioned in the preceding paragraph refers to the one-year loan market quotation rate issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20, 20 19.