Interest rate, the abbreviation of interest rate, refers to the ratio of interest amount to deposit principal or loan principal within a certain period of time. Usually divided into annual interest rate, monthly interest rate and daily interest rate.
Whether the annual interest rate of 22% is usury is mainly discussed in two situations:
1, private lending:
The upper limit of judicial interest rate protection of private lending is four times that of one-year LPR, and more than six times is the scope of usury.
As of June 5438+065438+1October 2 1 day, the one-year LPR was 3.65%, so the four-fold interest rate of the one-year LPR was 14.6%. When the interest rate of private lending does not exceed 14.6%, the interest is within the scope of protection. When the interest rate is 4-6 times that of LPR, the annual interest rate of 22% has exceeded 2 1.9%, so the excess part belongs to usury (the upper limit of judicial interest rate protection for private lending is subject to the LPR that is in effect when signing the loan contract and borrowing).
2. Financial loans:
The upper limit of interest rate protection of financial institutions is 24%, and the upper limit of usury is 36%, which can be understood as follows: the annual interest rate of financial loans does not exceed 24%, which is within the scope of legal protection; If it exceeds 24% but not more than 36%, it is not protected but not illegal; More than 36% is recognized as usury.
According to the standards of financial lending institutions, the annual interest rate of 22% is still within the scope of judicial protection and does not belong to usury.
The borrower must repay the interest within the interest rate in strict accordance with the loan contract.
Legal basis:
civil law
Article 667
A loan contract is a contract in which the borrower borrows money from the lender, repays the loan at maturity and pays interest.
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases
Article 26
The people's court shall support the lender's request to the borrower to pay interest at the agreed interest rate if the interest rate agreed by the borrower and the borrower does not exceed the annual interest rate of 24%. 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 interest paid in excess of 36% of the annual interest rate.