Yes, the annual interest rate of 23.4% means the annual interest rate of 100 yuan is 23.4 yuan. For example, if you lend the other party 100 yuan, the annual interest rate is 234 yuan. This interest is extremely high. Generally, only scammers will promise interest if they collect money to cheat. The profits of general business activities will not be so great. Please invest carefully. If it is private lending, then the annualized interest rate of 23.4% is usury, because the upper limit of judicial protection of private lending interest rate is four times that of LPR in the same period, and generally will not exceed 16%. For financial loans, the upper limit of judicial protection is 24%, and the annualized interest rate of 23.4% is just within 24%, which is the legal interest rate. Users apply for different loans, and the upper limit of judicial protection is also different. Financial loans generally refer to loans issued by licensed financial institutions, such as loans from consumer finance companies, bank loans and loan companies. As for private lending, it is an unlicensed private lending organization.

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1: the judicial interpretation of private lending stipulates that the interest rate of private lending may be appropriately higher than that of banks, but the maximum interest rate shall not exceed ten times that of similar loans of banks. If it is more than four times, the excess interest is not protected by law. The new judicial interpretation of private lending has more detailed provisions on the interest rate of private lending: the interest rate agreed by both borrowers and borrowers does not exceed 24% per annum, and if the lender requests the borrower to pay interest at the agreed interest rate, 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. If the loan interest rate exceeds 24% but does not exceed 36%, the borrower and the lender can independently agree.

2. According to Article 2 1 1 of the Contract Law, "if the loan contract between natural persons has no agreement or the agreement is not clear, it shall be deemed as not paying interest". In other words, the borrower does not need to pay interest from the date of borrowing to the date of prosecution. However, from the date of prosecution, it shall be regarded as the date of reminder, that is, the date when the borrower begins to pay overdue repayment. Therefore, from the date of prosecution to the time of paying off the loan, the borrower needs to pay interest according to the bank's loan interest rate for the same period. There is no repayment time for IOUs, and creditors can demand repayment at any time. First of all, civil law protects the legal relationship between equal subjects. Loan sharks, gambling debts, etc. It is illegal in our country and generally not protected by civil law, that is, you should not support suing the court for high interest rates. Secondly, the civil law embodies a high degree of autonomy between the parties, and the fact of borrowing establishes a loan contract relationship, and the other party can sue the court for return. Generally, the IOUs are clear, and the other party with sufficient evidence should be able to win the case.