Here, let me introduce what usury is. According to the legal document on private lending issued by the Supreme People's Court on 20 15, the usury standard is greater than the annualized interest rate of 36%, and the Supreme People's Court divides the interest rate into three ranges.

If the interest does not exceed 24%, the borrower has the business to repay the interest in this part of the interval.

The borrower has no right to return more than 36% interest, and the court supports the recovery of the returned interest.

Whether it belongs to usury, you borrowed 32,000 yuan, with a term of 12, and the total interest was 6,565.48 yuan.

Calculate the annualized interest rate when the interest is known: (total interest/total loan) * 100%= annualized interest rate.

6565.48/32000=0.205* 100%=20.5%

The calculated annual interest rate is 20.5%, so it is not a usury product.

Calculate whether your monthly repayment amount is correct: 32,000 yuan/12 installments = 2,666.66 (principal payable in each installment).

6565.48 Total interest/12 installment =547. 12 (interest per installment)

(26666.66+547.12) *12 = 38565.36 yuan.

32,000 yuan+6565.48 = 38,565.48 yuan as you said.

Only the wrong basis of 1 Mao can confirm that your story is true.

According to the monthly interest method, the total monthly interest is calculated according to the loan amount of 547. 12 /3.2 * 100%= 1.709% (monthly interest per ten thousand yuan).

1.709% monthly interest * 12 Term =20.05% (annualized interest rate)

The monthly interest rate of 1.7% is not low, but it is still reasonable for peer-to-peer lending products. It must be borrowed from WeChat micro-loan Alipay, and the average user's daily interest rate is10.5 million. The monthly interest also reached 1.5%.

Therefore, Lacarra's loan products do not belong to usury with an annualized interest rate of 20.5%, but only when the annualized interest rate exceeds 36%.

I hope I can help you.