In order to promote the stable and healthy development of private lending regulations, in August 2020, the Supreme People's Court issued the newly revised "Regulations on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases", which includes judicial protection of private lending interest rates The upper limit has been adjusted, so what is the new upper limit of private loan interest in 2020? Let’s find out together!

What is the upper limit of private loan interest in 2020?

According to the new upper limit of private loan interest in 2020 According to Article 26 of the revised "Decision of the Supreme People's Court on Amending Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" (Fa Shi [2020] No. 6), the lender requires the borrower to pay interest according to the interest rate agreed in the contract. , the people's court shall support it, except where the interest rate agreed upon by both parties exceeds four times the one-year loan market quoted interest rate at the time the contract is established.

Take the loan contract signed on September 8, 2020 as an example. The one-year loan market quotation rate announced on August 20, 2020 is 3.85, and the loan interest rate for the loan contract signed during this period exceeds 15.4 If the lender requests the borrower to pay interest according to the interest rate stipulated in the contract, the court will not support it.

In addition, the one-year loan prime rate (LPR) can be found on the official website of the National Interbank Funding Center (www.shibor.org) or the official website of the People's Bank of China (www.pbc.gov.cn) For inquiries, LPR is updated once a month at 9:30 on the 20th of each month, and will be postponed during holidays.

The above is the answer to what is the upper limit of private loan interest in 2020. I hope it will be helpful to you.