"Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases" Article 26 If the interest rate agreed by both borrowers and lenders does not exceed 24% per annum, and the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it.
The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. The people's court shall support the borrower's request to the lender to return the part of the interest paid that exceeds 36% per annum.
The above provisions can be understood as follows: in the case of simple interest payment, if the annual interest rate does not exceed 24% (2% or 2 points per month), the people's court will support it, that is, the agreement is legal; If the annual interest rate is between 24% and 36%, it is a natural debt. If the debtor voluntarily performs, he may not claim the return to the court; If the annual interest rate exceeds 36%, it is invalid because it violates the law, and the debtor may claim unjust enrichment for the excess. In the following, the author analyzes how much money Li should repay the lending company if the lending company goes to court in accordance with the relevant provisions of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases.
Interest rate agreed in the loan contract between the loan company and Li:
Monthly interest rate 2.5/40 = 6.25%;
The annual interest rate is 6.25X 12%=75%.
Judging from the provisions of the Interpretation, it has far exceeded the standard of 24% annual interest rate supported by the court, and has exceeded the red line of 36% annual interest rate, which should belong to usury. However, the two sides did not take any illegal actions such as beheading, calculating compound interest beyond the prescribed amount, creating false running water, and making false accounts. So this case is not a regular loan, but a civil loan dispute. If both parties can't reach an agreement, they can resort to the court, and the court will make adjustments according to law.
The amount of interest that Li has repaid to the loan company for one year is:
2.5x12 = 300,000 yuan
The amount of interest that the court can support is:
Part I: Interest amount with annual interest rate of 24%: 40x 24% = 96000 yuan.
Part II: The interest amount between 24% and 36% is 40x36%-9.6 = 48,000.
According to the explanation of private lending, the court cannot support the annual interest payable of 300 thousand yuan stipulated in the loan contract between the lending company and Li; The amount of interest supported by the court is 9.6+4.8 =144,000 yuan, of which 48,000 yuan is a natural debt, which Li has paid and cannot claim to be returned.
Through the above calculation, the interest charged by the lending company is: 300-14.4 =156,000 yuan.
According to the contract between the two parties, the amount of principal and interest that Li should pay to the loan company is:
40+30 = 700,000 yuan
The loan company shall return the loan interest to Li:
30-14.4 =156,000 yuan
Li also needs to repay the loan to the loan company:
40+30-15.6 = 544,000 yuan
In this case, the loan company signed an interest-bearing loan agreement with Li, which is relatively easy to calculate. In practice, compound interest (rolling interest) is widely used to calculate interest. If it is within the scope permitted by the interpretation of private lending, it is legal to compound interest at an annual interest rate of 24% (2% per month), which is relatively complicated to calculate.