1. Financial loan interest rate
According to relevant regulations, the loan interest rate of financial institutions cannot exceed the annual interest rate of 36%, and it is illegal to exceed it. Loan annual interest rates below 24% are within the scope of protection; loan interest rates between 24% and 36% are within the natural debt zone, which remains neutral and the borrower is obligated to repay. If the annual interest rate is higher than 36%, and the borrower has paid more than 36% of the interest, the borrower has the right to require the lender to return the loaned portion. What is the loan interest rate? The loan interest rate is the interest rate that banks and other financial institutions charge borrowers when they issue loans. It is mainly divided into three categories: the central bank's loan interest rate to commercial banks; the commercial bank's loan interest rate to customers; and the interbank lending rate. What are the legal provisions on the calculation of borrowing interest rates and interest? The creditor's rights that financial institutions have against borrowers basically consist of two parts: the loan principal and the loan interest. The amount of the loan principal is determined and generally there will be no disputes. The calculation of loan interest is relatively complicated. The prerequisite for calculating interest is to determine the interest rate. Different interest rates will result in different interest amounts. The reason why the interest calculation problem is complicated is that the borrowing rate is not fixed. According to the "RMB Interest Rate Management Regulations", interest rates are divided into many types. The loan interest rates and penalty interest rates of financial institutions are stipulated by the People's Bank of China. The level of interest rates is closely related to the type of loan and the borrower's performance behavior. Notes on loans: 1. When applying for a loan, the borrower must make a correct judgment on his or her repayment ability. Design a repayment plan based on your income level, and leave appropriate room for it so as not to affect your normal life. 2. Choose the appropriate repayment method. There are two methods of equal repayment and equal principal repayment. Once the repayment method is agreed in the contract, it cannot be changed during the entire loan period. 3. Make monthly repayments on time to avoid penalty interest. Starting from the next month after the loan is initiated, the loan is generally released on the repayment date in the next month. Don't incur default penalties due to your own negligence, which will lead to failure to approve the bank's loan application again. 4. Keep your contract and IOU properly, and read the terms of the contract carefully to understand your rights and obligations. The above is a summary of the content about financial loan interest rates. I hope it will be helpful to you. Legal basis: Article 26 of the "Regulations of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" stipulates that if the interest rate agreed between the borrower and the borrower does not exceed the annual interest rate of 24%, and the lender requests the borrower to pay interest according to the agreed interest rate, The people should support it. If the interest rate agreed upon by both parties exceeds the annual interest rate by 36%, the excess interest agreement is invalid. If the borrower requests the lender to return the interest that has been paid in excess of 36% of the annual interest rate, the people shall support it.
2. Is there an upper limit on the loan interest rates of financial institutions?
With the approval of the State Council, the People's Bank of China decided to fully liberalize the control of loan interest rates of financial institutions starting from July 20, 2013. The lower limit of 0.7 times the loan interest rate of financial institutions will be removed, and financial institutions will independently determine the level of loan interest rates based on commercial principles.
3. Will the loan interest rates of financial institutions be affected by the judicial interpretation of private lending?
The recently promulgated and implemented new version clearly states that it does not apply to the loan business of licensed financial institutions. However, with the deepening of judicial practice, first, it will definitely affect financial institutions
Everyone knows , in the promulgation in 2015, the "two lines and three areas" were delineated, that is, the legal debt area, the natural debt area and the illegal debt area were demarcated with annualized interest rates of 24% and 36% respectively. Since then, whether it is non-bank financial Institutions, including consumer finance companies, licensed online lending platforms, etc., set an annualized interest rate of 24% as the upper limit for protection, and any interest rate exceeding 36% is considered invalid debt. Generally speaking, it is related to private lending interest rate protection
In theory, based on the latest judicial interpretation of private lending, there is still room for downward adjustment of the upper limit of interest rate protection for financial institutions. According to the principle of fund pricing, the greater the risk, the higher the cost should be, in order to effectively cover the risk and curb the rise of non-performing loans. However, private lending funds are obviously inferior to financial institutions in terms of basic cost and risk control level. According to the non-protection limit, taking the July LPR as an example, the maximum does not exceed 1. The credit card cash advance interest rate is as high as 18.25%. The installment fee is right, which is obviously unreasonable and goes against the interests of the real economy
The upper limit of interest rate protection for banking financial institutions is still lower than the upper limit of interest rate protection for industrial operating loans and lending.
Taking credit cards as an example, for cash advances and consumer bills that are overdue, the highest interest rate is 50,000 per day, equivalent to an annualized interest rate of 18.25%. The renewal rate for credit card bills is around 0.7%. However, since the principal and interest are repaid in equal installments each period, the actual interest rate is not 0.7%12=8.4%. The comprehensive calculation should be 18%, which is interpreted as the standard. It is obviously more than the partial interest of 15.4%. is controversial.
Who has the final say in this kind of controversy? Of course, in legal practice, this kind of dispute will often be based on a typical case, and other similar issues will also have a reference standard. Although the new version of the Judicial Interpretation on Private Lending was promulgated and implemented less than one month ago, controversial cases have already emerged. On August 27, in the first instance of Ouhai District, Zhejiang Province, Ping An Bank’s interest claim of 24% annualized interest rate against the defendant was rejected, and it became a new version of the private lending department. Regardless of the outcome of the second instance and the final instance, it has a significant impact and is a milestone.