Peer-to-peer lending is a very popular way to borrow money now. Many users will choose to borrow money through the Internet for capital turnover when funds are scarce. Now there are many loan outlets in the market, so is it reliable to use foreign currency jars as old loan outlets?

The piggy bank is actually a P2P platform that provides intermediary services for users to borrow money. The products of piggy bank are mainly divided into piggy bank APP and piggy bank loan APP, among which piggy bank loan APP is what we call piggy bank loan, and the name of piggy bank loan APP is "cash loan", which mainly provides online credit consumption loans for borrowers.

The "cash loan" of the piggy bank can provide users with a cash loan of up to 5,000 yuan. The loan period for users to borrow money from piggy bank is 6 months. Generally, users with sesame credit of 600 points can borrow money. In addition, the "cash loan" APP has also docked many other loan outlets, such as "immediate consumption" and "small consumption loans".

When users borrow money from the piggy bank, they can mainly judge whether it is reliable by the charge of the piggy bank. According to the users who have made loans in the piggy bank, the fees charged by the piggy bank when borrowing money do not exceed the loan fees stipulated by the state, but if the users are overdue, the corresponding liquidated damages will be higher.

Is the loan interest of piggy bank usury?

At present, there are still some usury in the market. Some borrowers may have accidentally borrowed usury, so the later period may be very miserable. Therefore, many borrowers are still afraid of usury when they want to borrow. So, is the "demand loan" of the piggy bank a usury?

According to China's current regulations, if the loan interest rate does not exceed 24%, there is legal support for the lender to require the borrower to repay the loan interest as agreed. On the other hand, if the borrower's loan interest rate exceeds 36%, the borrower can ask the lender to repay the excess interest. Therefore, as long as the loan interest rate does not exceed 36%, it is protected by law. If the loan interest rate exceeds 36%, it belongs to usury.

Although the loan interest rate of piggy bank loans is higher than that of bank loans and some big platforms, its loan interest rate does not exceed 36% stipulated by the state, which shows that borrowing money from piggy bank is not usury at present.