Legal analysis: this is not usury, and the interest rate restriction of usury is a civil act. The interest rate of private lending can be appropriately higher than the bank interest rate, but it shall not exceed 4 times the interest rate of similar loans of banks. Therefore, the principal of private lending is protected, and the interest that does not exceed 4 times the interest rate of similar loans of banks is also protected by law, and the excess is not protected by law. The benchmark interest rate for the same period refers to the benchmark interest rate announced by the central bank, such as 1 year. The benchmark interest rate is 6 and 4 times 24, that is, more than 24 is legally recognized as usury.

Legal basis: Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 28 If there is an agreement between the borrower and the lender on the overdue interest rate, such agreement shall prevail, but it shall not exceed four times the market quotation of one-year loan at the time of the conclusion of the contract.

If the overdue interest rate is not agreed or clearly agreed, the people's court may handle it according to different circumstances:

(a) the people's court shall support the lender's claim that the borrower should bear the liability for breach of contract for overdue repayment with reference to the interest calculated by the one-year loan market at that time from the date of overdue repayment;

(2) If the interest rate during the loan period is agreed, but the overdue interest rate is not agreed, the people's court shall support the lender to claim that the borrower shall pay the interest during the capital occupation according to the interest rate during the loan period from the date of overdue repayment.