2. However, the interest rate of private lending cannot exceed the standard set by the state. If it exceeds the standard, the excess part is not protected by law. At present, the national interest rate standard for private lending is 24% per annum. If the borrower pays interest voluntarily, the maximum annual interest rate can reach 36%).
Legal basis: Interpretation of the Supreme Court on the Applicable Law in the Trial of Private Lending Cases Article 26 If the interest rate agreed by both borrowers and lenders does not exceed 24% per annum, the people's court shall support it.
The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. The people's court shall support the borrower's request to the lender to return the part of the interest paid that exceeds 36% per annum.