For online loans with an annual interest rate of more than 24% but not more than 36%, customers can't help but pay back. Because the annual interest rate does not exceed 36%, it is not usury. So when you borrow money, you must look at the annual interest rate in the loan contract, sometimes in the form of daily interest rate, and you should convert it into annual interest rate. For example, the daily interest rate of ants borrowing money is 15000 yuan, which is 0.05%, and the annual interest rate is 0.05%×365= 18.25%. It can be seen that the annual interest rate of ants borrowing money is no more than 24%, while the interest rate of ordinary bank loans is 4.9%. In this way, the annual interest rate of ant loans is more than three times that of bank loans.

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1. peer-to-peer lending refers to direct lending between individuals through the Internet platform. According to the relevant provisions of the Supreme Court, if the interest on online loans exceeds the legal provisions, some lenders may not pay the excess. But the part that meets the legal requirements must be repaid. Although high interest rate is not protected by law, creditors can sue in court to demand repayment of principal and legally protected interest.

2. According to Article 211th of the Contract Law, if the loan contract between natural persons does not stipulate or clearly stipulates the payment of interest, it shall be deemed as non-payment. If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate. (The Contract Law will expire on February 3, 20201No.65438) Article 680 of the Civil Code prohibits high-interest loans, and the loan interest rate shall not violate the relevant provisions of the state. If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest. If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free. (The effective date of the Civil Code is 202 1 1 1)

3. Among private lending, the Supreme People's Court does not support loans with annual interest rate exceeding 24%. Secondly, when the interest rate exceeded 36%, it was a veritable usury, and many people knew it. In addition, because the law does not support usury and protect the legitimate rights and interests of every citizen, China Internet Finance Association and other online loan supervision departments prohibit usury and high-interest loans, so when borrowers encounter high-interest loans,

4. When the borrower wants to reduce the interest after encountering an online loan with excessive interest rate, but the online loan platform does not agree, the borrower can only solve such problems through some channels. At this time, some borrowers will follow the advice of lawyers and seek legal assistance. Usually, for large-scale online loans, borrowers will defend their rights through prosecution, and the people's courts will take the legal interest rate in private lending as a reference. Then, after careful investigation, make a judgment. If the interest of the online lending platform sued by the borrower is really high, then the borrower has the right to refuse to pay the interest beyond the legal provisions. If the interest on the online lending platform is legal, then there is no doubt that the statement that the interest on online lending is too high is untenable among borrowers, and borrowers will eventually lose.