usury is a financial term, which refers to a loan that requires extremely high interest. It is illegal, so there is no specific phone number. In addition, the telephone number for complaining about usury is 12378, which is China Banking and Insurance Regulatory Commission's telephone number. If you borrow usury, you can complain to China Banking and Insurance Regulatory Commission.

what is usury?

usury is a crime of illegally absorbing public deposits when high-profit loans and high-profit loans reach a certain amount. For the purpose of lending, using the credit funds of financial institutions to lend to patients at high interest, the illegal amount is large, which constitutes the crime of lending at high interest. For the purpose of illegal possession, illegal fund-raising by fraudulent means constitutes the crime of fund-raising fraud; Usury can easily lead to criminal offences such as illegal detention, kidnapping, injury and fraud. Private institutions' high-interest private lending and the legitimate income of individuals' own funds belong to private lending behavior. In case of loan dispute, it belongs to the category of civil adjustment. Usury interest = loan amount * interest rate * term, which is a common calculation method of loan interest.

Is usurer illegal?

usury in private lending is illegal only in the form of interest agreement, but it does not constitute a crime. Usually, usury is often accompanied by threats to the personal safety of debtors and violent debt collection. In this process, breaking the law may constitute a crime. According to Article 26 of Several Opinions of People's Courts on Handling Loan Cases, the interest rate agreed by both parties shall not exceed 24% per annum, and the people's court shall support the lender's request for the borrower to pay interest at the agreed interest rate. The interest rate agreed by both parties exceeds the annual interest rate of 36%, and the excess interest agreement is invalid. The people's court shall support the borrower's request to the lender to return the interest paid exceeding 36% per annum.

usury is more than 4 times higher than the benchmark interest rate of the People's Bank of China in the same period, and it is not protected by law. In the eyes of ordinary people, "private lending" is not much different from usury. Actually, it is not. The dividing point between the two is the size of the loan interest rate. Interest rate is four times lower than the bank's interest rate in the same period, which is regarded as private lending, and interest rate is four times higher than the bank's interest rate in the same period, which is called usury.