As long as private lending is allowed by the state, it should abide by the relevant provisions of national laws and administrative regulations and follow the principles of voluntary mutual assistance, honesty and credit. Can be achieved.
At present, the state expressly stipulates that the interest rate of private lending is legal within 4 times (inclusive) of the bank interest rate. For example, a bank loan is 6% for six months to one year (inclusive). Then the lending rate between individuals can be within 24%. If the bank loan interest rate is less than 4 times in the same period, it belongs to the legal interest rate, and if it is more than 4 times, it belongs to usury, and the usury part is not protected by law.