1. Peer-to-peer lending is a kind of private lending, which is legal. Peer-to-peer lending is just a form of private lending, that is, private lending concludes a loan contract in the form of a network contract, and fulfills the contractual obligations of providing loans and repaying principal and interest through the network. Article 22 of the "Supreme Provisions on Private Lending", the borrower and the lender form a lending relationship through the peer-to-peer lending platform. The provider of the online lending platform only provides media services, and the parties require it to bear the guarantee responsibility, and the people will not support it. \ If the online lending platform provider explicitly provides a guarantee for the loan or has other evidence through websites, advertisements and other media, and the lender requests the online lending platform provider to assume the guarantee responsibility, the people shall support it.

Second, is online legal?

Private lending is a civil act, which is bound and protected by civil law and contract law. However, if the online small amount exceeds the interest rate stipulated by the state, it is illegal and not protected by law.

legal ground

Article 26 of the Supreme People's Court's Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases stipulates that if the interest rate agreed by both borrowers and lenders does not exceed 24% of the annual interest rate, the people's court shall support the lender to demand the borrower to pay interest at the agreed interest rate.

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. If the borrower requests the lender to return the interest paid in excess of 36% per annum, the people shall support it.

3. Is online lending legal?

As far as the borrower is concerned, it is generally not illegal.

PS: The law does not protect the annual interest exceeding 25% of the principal.