"Several Opinions on People's Courts' Trial of Lending Cases" Article 6 The interest rate of private lending may be appropriately higher than the bank's interest rate, and local people's courts may specifically grasp it according to the actual situation in the region, but the maximum shall not exceed four times the bank's interest rate of similar loans (including this interest rate). Beyond this limit, the excess interest will not be protected.
According to the above regulations, as long as the interest rate is within 4 times of the loan interest rate in the same period, the high interest rate is protected by law and should be paid, and the excess is not protected, but it is not illegal.