Interest on peer-to-peer lending is generally calculated at the daily interest rate. At present, the most common daily interest rate is 0.5/10000, that is, the interest of a loan 10000 yuan a day is 5 yuan. One month is 150 yuan. The interest rate of private lending can be appropriately higher than the bank interest rate, but the maximum annual interest rate shall not exceed 24%. Beyond this limit, the excess interest will not be protected. Legal Basis According to Article 26 of the Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, if the interest rate agreed by both borrowers and lenders does not exceed 24% per annum, and 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.