Legal analysis
The determination of the loan interest rate means that the lender determines the interest rate of each loan according to the upper and lower limits of the loan interest rate stipulated by the People's Bank of China, and specifies it in the loan contract; At present, the People's Bank of China authorized the National Interbank Funding Center to announce that the loan market quotation (LPR) on June 202 1 day was: 1 year, and the LPR was 3.85%. LPR is valid until the next version of LPR. So far, the LPR data has remained unchanged for 14 months. Multiplying the market quotation of one-year loans issued by the National Interbank Funding Center in the current month (or last month) by 4, the agreed interest rate can be the highest annual interest rate, which is also the highest interest rate for private lending stipulated by national laws. In addition, don't remind me that it is ok to pay interest on loans, but interest needs to be paid first when handling loans, that is, informal institutions, and formal lending institutions will not ask for advance payment. Therefore, loans should be cautious to avoid being cheated.
legal ground
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases
Article 24 If the borrower and the lender have not agreed on interest, and the lender claims to pay interest, the people's court will not support it. If the interest agreement between natural persons is unclear and the lender claims to pay interest, the people's court will not support it. Except for the loan between natural persons, if the agreement on the loan interest between the borrower and the lender is unclear, and the lender claims interest, the people's court shall determine the interest according to the contents of the private loan contract, the local or the parties' trading methods, trading habits, market quotation and other factors.
Article 25 If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the market quotation of one-year loan at the time of the establishment of the contract. The "one-year loan market quotation" mentioned in the preceding paragraph refers to the one-year loan market quotation issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20th, 20th, 20th19th.